DTZ tips Solihull to become top five retail hotspot

PROPERTY consultancy DTZ is predicting that Solihull will become a retail ‘hotspot’ in five years’ time.

The firm’s Retail Property Health Index (RPHI) identifies the most and least healthy retail locations in terms of changing economic, socio-demographic, and retail characteristics.

Whilst none of the current top five are in the West Midlands, DTZ suggests Solihull will break into that group in five years’ time. It will be accompanied by Inner London (West), Surrey, Outer London (West & North West) and Oxfordshire, the property firm predicts.

The RPHI has also identified Worcestershire and Shropshire as being amongst the retail ‘hotspots’ to watch, underpinned by expected increase in retail sales, falling vacancy rates which are currently above average and rental growth over the next five years.
 
Richard Yorke, head of UK research at DTZ, said: “The effects of  economic recovery on the retail property market is still presently concentrated in the South East which has seen growth in consumer spend and retails sales underpinning vibrant retail recovery.

“However this is changing. As the economic recovery broadens, the variance in forecast economic indicators between the regions is reducing, closing the gap between north and south.”