Ireland is second in Europe for shopping centre space per capita; Chartered Surveyors say change was underway in Irish commercial leases before upward only rent reviews ban

Dec 3rd, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Ireland ranks second highest for shopping centre space per capita in Europe, after the Netherlands, in research by Jones Lang LaSalle of 25 countries, with approximately 440sqm of shopping centre stock for every 1,000 people. In sharp contrast, Bulgaria has the least amount of shopping centre stock, with just 25sqm for every 1,000 people. Meanwhile, a survey conducted by the Society of Chartered Surveyors in October last, found that the nature of Irish commercial leases being negotiated between landlords and tenants has already changed, despite the Minister for Justice Dermot Ahern’s decision to sign an order banning upward only rent reviews, which will come into effect on 28th February 2010.

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