Rent rises set to hit furniture retailers hard

January 2005
Cabinet Maker;1/21/2005, Issue 5422, p38
Trade Publication
This article reports that rents for retail warehousing are likely to continue growing this year because of the continuing restriction of new development in the Government's revised paper PPG 6. Some institutional investors, and Investment Property Databank, believe that prime retail warehousing could show average rental growth of 6-7% a year over the next four or five years, but for general retail warehousing this may well be about 3-5% a year. This rise could hit furniture retailers in particular. The gap between what furniture retailers pay for sales per square foot and what high street retailers such as Gap and Next pay, is unlikely to close significantly because the former lack the same customer draw and hence can't pay the rents for the better properties.


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