Change in average high street and shopping center rents in the UK 2020-2023
Rental rates of high street and shopping center properties in the UK increased in 2023, exceeding the 2019 levels. In the fourth quarter of 2023, the net effective rent increased by 10.2 percent from 2019. That ended a nearly three-year period of a decline in rents. Headline rent refers to the rental rate written in the lease, but this often differs from the effective rent paid due to rent-free periods or other inducements offered by the landlord.
Prime retail rents in Europe are forecast to rise by 2027. However, in London, this increase is expected to remain below average for the region.
