Investment in retail properties in Europe climbed by 68 per cent during 2010, taking the total volume spent to EUR 20.6 billion for the year. According to research from Jones Lang LaSalle transactions over the course of the last 12 months comfortably overtook those of 2009.
The consultant's latest report shows that there were some 150 transactions recorded just in the fourth quarter of 2010 - almost 80 per cent up on the previous quarter.
In particular, the UK had a successful year, enjoying its busiest period since the end of 2007. In total, the UK accounted for 31 per cent of Europe's total volume in 2010, with Germany adding a further 23 per cent. The Netherlands and France together took EUR 1.4 billion, Jones Lang LaSalle added.
Meanwhile, Poland also continued its strong performance from the third quarter, transacting EUR 677 million during the final quarter of the year and cementing its place as the fifth largest retail investment market in Europe during 2010.
"In the UK retail real estate investment has been dominating performance with volumes encouragingly surpassing levels recorded in 2009 and topping the EUR 6.5 billion mark, with shopping centres accounting for almost 50 per cent of all retail investments," said Adrian Peachey, head of UK Retail Investment at the firm.