City shop rent declines faster

THE price of renting shops has declined faster in Edinburgh than the rest of Scotland.

Figures from the Valuation Office Agency show that rent figures for prime Edinburgh units declined by 8.7 per cent in the year to January 2011.

The average rent fell from 1950 per square metre in January 2010 to 1800 a year later.

In comparison, Glasgow rents fell at a slower rate, from 2800 per sq m to 2725. And London west end rents increased, from 6000 to 6500.