We top the league for shopping centre space
Published 28/09/2011 | 05:00
Ireland's expanding population has done little to improve its position in European league of shopping centre development. The country is severely over-shopped.
"We have 356.7sqm of shopping centre space per 1,000 of population. This compares to the western European average of 233.9sqm, and our closest neighbours, the UK, at 264.5sqm," says Aoife Brennan, head of research at Lisney.
Whilst Europe as a whole is expected to see 5.8 million sqm of new shopping centre development completed in 2012, she does not expect any significant completions in Ireland.
She was commenting on a report by Lisney's international alliance partner Cushman & Wakefield. It shows an upturn in shopping centre development in Europe.