Since the pandemic, cost-of-living crisis and inflation-linked interest-rate rises, UK shopping centres have been viewed as unwelcome, secondary assets when pitted against the more fashionable sheds, beds and meds. There has, however, been a significant shift, with 2024 poised to be a year of strong investment in the sector.

Institutional investors are leading a resurgence, with investment volumes projected to be double those of the previous 12 months. This growth is driven by easing inflation and rising consumer confidence, signalling a renewed belief in the stability and profitability of retail assets. If current trends continue, 2024 could mark the highest shopping centre investment volumes seen since 2015, setting the stage for a highly competitive and promising retail investment landscape as we move into the new year.

Happy consumers

The first obvious thing to recognise is that we are operating in a different economic climate than we have i