John Welham, director of European Retail Investment at CBRE said: "As the major office markets in Europe suffer from falling occupier demand and downward pressure on rents, the high street and shopping centres will continue to see largely stable rental values and low vacancy levels. There is good investment demand and not enough product."
Overall, CBRE calculates that nearly 100 shopping centres in continental Europe changed hands during 2002, with an aggregate value of €3.4bn ($3.7bn) while the more active UK market saw £3.9bn ($6.1bn) of turnover.
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