Supermarket chains are driving a revival on the high street property market as they take advantage of cheap rents and reduced competition, according to a new study.
The claim is made in a report by property group Colliers International, to be published later this week. It cites the expansion of Tesco Express and Sainsbury's Local, with other major retailers also looking to develop smaller stores.
The 2010 Midsummer Retail Survey found that high street landlords and property developers are targeting the major supermarket chains, as they are willing to sign 25-year leases.
Other retailers are seen as reluctant to commit to leases greater than 10 years in length.
Grocery Retail Structure 2010 (12 June 2010)
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