Prime retail rents

Recent figures from Colliers CRE, the international property consultancy, show that between May 2005 and May 2006 average prime retail rents in Scotland increased by just 0.4%, less than the 2.6% achieved in 2004/5.   In Edinburgh city centre, retail rental growth remained static although the city centre did maintain its position as the third highest centre in Scotland by rental value.

An analysis of the performance of the five highest rented centres in Scotland since May 1987 shows that, to 2006, the Gyle Centre has outperformed Edinburgh city centre, achieving rental growth of 157.1% since its opening in 1993.  This compares to a 38.7% uplift in prime rent in the city centre over the same period.