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Retail rents set to drop

Demand for retail space between April and June was at its lowest level for six years, and prime retail rents are likely to fall or remain flat over the next 12 months, a new report has said.

More than half (53%) of respondents to a survey by the Royal Institution of Chartered Surveyors (RICS) said they expected a drop in demand for retail space over the coming year.

Almost three-quarters (70%) expected investors to scale back their exposure to retail property as a result of the growing use of company voluntary arrangements (CVAs).


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