Out–of–town centres on the up

One of the UK’s biggest property firms yesterday said occupancy and footfall at its out-of-town shopping centres continued to improve amid evidence shoppers are deserting high streets.

British Land, whose retail portfolio is 80 per cent in out-of-town locations including sites in Aberdeen, Edinburgh and Glasgow, said the occupancy rate at its retail estate increased 0.2 percentage points on a year earlier to 98.4 per cent in the three months to 31 December. Meanwhile, the number of people visiting its sites rose 3 per cent.

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