Retail property value rocketed by 7.9% in 2005, outstripping the 4.5% rise the previous year, according to Christie & Co’s latest annual index.
Its Business Outlook report this week predicts that values will remain buoyant over the coming year as competition for retail space grows.
It also predicts that The Co-operative Group may again be looking at an acquisition in order to enter the symbol group arena. Last year takeover discussions with Nisa-Today’s came to nothing
And, says the report, there will be more consolidation among the co-operative societies, following the merger of Oxford, Swindon & Gloucester Co-operative with West Midlands Co-op to form The Midcounties Co-operative and the Ipswich and Norwich Co-operative’s merger with Colchester and East Essex Co-operative to form the East of England Co-operative Society last year.
The volume of forecourt deals being handled by Christie & Co rose last year and its head of retail, Tony Evans, said there would be no slowdown this year. Tesco, Somerfield and United Co-operatives are the most acquisitive in this arena.