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&lt;br /&gt; European Retail Property&lt;br /&gt; &ndash; light at the end of the tunnel?&lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; 2010&lt;br /&gt; &lt;br /&gt; King Sturge: European Retail Property&lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &lt;br /&gt; Executive summary &bull;&lt;br /&gt; &lt;br /&gt; &lt;br /&gt; &bull; After two years of turmoil, there is growing&lt;br /&gt; &bull;&lt;br /&gt; evidence of light at the end of the tunnel for the&lt;br /&gt; European retail property market. However, this&lt;br /&gt; light could merely be an express train coming in&lt;br /&gt; the opposite direction.&lt;br /&gt; &lt;br /&gt; &bull; There is a signi&#64257;cant divergence between&lt;br /&gt; investment a<a title="ERP 2010.pdf page 1" href="http://viewer.zmags.com/publication/347728e7?page=1">European Retail Property&ndash; light at the end of th</a> European Retail Property&ndash; light at the end of th<a title="ERP 2010.pdf page 2" href="http://viewer.zmags.com/publication/347728e7?page=2"></a> <a title="ERP 2010.pdf page 3" href="http://viewer.zmags.com/publication/347728e7?page=3">King Sturge: European Retail PropertyExecuti</a> King Sturge: European Retail PropertyExecuti<a title="ERP 2010.pdf page 4" href="http://viewer.zmags.com/publication/347728e7?page=4">King Sturge: European Retail Property&bull; The s</a> King Sturge: European Retail Property&bull; The s<a title="ERP 2010.pdf page 5" href="http://viewer.zmags.com/publication/347728e7?page=5">Economics</a> Economics<a title="ERP 2010.pdf page 6" href="http://viewer.zmags.com/publication/347728e7?page=6">King Sturge: European Retail PropertyEconomi</a> King Sturge: European Retail PropertyEconomi<a title="ERP 2010.pdf page 7" href="http://viewer.zmags.com/publication/347728e7?page=7">turnaround in what were hitherto three of </a> turnaround in what were hitherto three of <a title="ERP 2010.pdf page 8" href="http://viewer.zmags.com/publication/347728e7?page=8">King Sturge: European Retail Propertyyears. </a> King Sturge: European Retail Propertyyears. <a title="ERP 2010.pdf page 9" href="http://viewer.zmags.com/publication/347728e7?page=9">Table 2 &ndash; Retail sales (nominal) by country and p</a> Table 2 &ndash; Retail sales (nominal) by country and p<a title="ERP 2010.pdf page 10" href="http://viewer.zmags.com/publication/347728e7?page=10">King Sturge: European Retail PropertyOther m</a> King Sturge: European Retail PropertyOther m<a title="ERP 2010.pdf page 11" href="http://viewer.zmags.com/publication/347728e7?page=11">Table 4 &ndash; Historic and forecast retail sales grow</a> Table 4 &ndash; Historic and forecast retail sales grow<a title="ERP 2010.pdf page 12" href="http://viewer.zmags.com/publication/347728e7?page=12">King Sturge: European Retail PropertyMap 1</a> King Sturge: European Retail PropertyMap 1<a title="ERP 2010.pdf page 13" href="http://viewer.zmags.com/publication/347728e7?page=13">Table 5: Current and forecast retail sales per ca</a> Table 5: Current and forecast retail sales per ca<a title="ERP 2010.pdf page 14" href="http://viewer.zmags.com/publication/347728e7?page=14">King Sturge: European Retail Propertyretail </a> King Sturge: European Retail Propertyretail <a title="ERP 2010.pdf page 15" href="http://viewer.zmags.com/publication/347728e7?page=15">the Hungarian government have had a negativ</a> the Hungarian government have had a negativ<a title="ERP 2010.pdf page 16" href="http://viewer.zmags.com/publication/347728e7?page=16">King Sturge: European Retail PropertyMap 2</a> King Sturge: European Retail PropertyMap 2<a title="ERP 2010.pdf page 17" href="http://viewer.zmags.com/publication/347728e7?page=17">Map 3: Retail sales growth hotspots in Western Eu</a> Map 3: Retail sales growth hotspots in Western Eu<a title="ERP 2010.pdf page 18" href="http://viewer.zmags.com/publication/347728e7?page=18">King Sturge: European Retail Property</a> King Sturge: European Retail Property<a title="ERP 2010.pdf page 19" href="http://viewer.zmags.com/publication/347728e7?page=19">European retailmarkets</a> European retailmarkets<a title="ERP 2010.pdf page 20" href="http://viewer.zmags.com/publication/347728e7?page=20">King Sturge: European Retail PropertyEuropea</a> King Sturge: European Retail PropertyEuropea<a title="ERP 2010.pdf page 21" href="http://viewer.zmags.com/publication/347728e7?page=21">Retailer fall-out/administrationsA drop-off i</a> Retailer fall-out/administrationsA drop-off i<a title="ERP 2010.pdf page 22" href="http://viewer.zmags.com/publication/347728e7?page=22">King Sturge: European Retail Propertyhigher </a> King Sturge: European Retail Propertyhigher <a title="ERP 2010.pdf page 23" href="http://viewer.zmags.com/publication/347728e7?page=23">International expansionAmidsttheturmoilofdomest</a> International expansionAmidsttheturmoilofdomest<a title="ERP 2010.pdf page 24" href="http://viewer.zmags.com/publication/347728e7?page=24">King Sturge: European Retail Propertyexpansi</a> King Sturge: European Retail Propertyexpansi<a title="ERP 2010.pdf page 25" href="http://viewer.zmags.com/publication/347728e7?page=25">Fig 5: Breakdown of cross-border sales by country</a> Fig 5: Breakdown of cross-border sales by country<a title="ERP 2010.pdf page 26" href="http://viewer.zmags.com/publication/347728e7?page=26">King Sturge: European Retail Property&bull; Inte</a> King Sturge: European Retail Property&bull; Inte<a title="ERP 2010.pdf page 27" href="http://viewer.zmags.com/publication/347728e7?page=27">Shopping City, Sibiu, Romaniaof this was Ru</a> Shopping City, Sibiu, Romaniaof this was Ru<a title="ERP 2010.pdf page 28" href="http://viewer.zmags.com/publication/347728e7?page=28">King Sturge: European Retail Property</a> King Sturge: European Retail Property<a title="ERP 2010.pdf page 29" href="http://viewer.zmags.com/publication/347728e7?page=29">European retailproperty markets</a> European retailproperty markets<a title="ERP 2010.pdf page 30" href="http://viewer.zmags.com/publication/347728e7?page=30">King Sturge: European Retail PropertyEuropea</a> King Sturge: European Retail PropertyEuropea<a title="ERP 2010.pdf page 31" href="http://viewer.zmags.com/publication/347728e7?page=31">Table 9: European prime retail rents 2006 - 2009 </a> Table 9: European prime retail rents 2006 - 2009 <a title="ERP 2010.pdf page 32" href="http://viewer.zmags.com/publication/347728e7?page=32">King Sturge: European Retail Propertyprime r</a> King Sturge: European Retail Propertyprime r<a title="ERP 2010.pdf page 33" href="http://viewer.zmags.com/publication/347728e7?page=33">3D Shopping Centre, Zagreb, Croatiaan average </a> 3D Shopping Centre, Zagreb, Croatiaan average <a title="ERP 2010.pdf page 34" href="http://viewer.zmags.com/publication/347728e7?page=34">King Sturge: European Retail PropertyJones L</a> King Sturge: European Retail PropertyJones L<a title="ERP 2010.pdf page 35" href="http://viewer.zmags.com/publication/347728e7?page=35">substantially lower transaction values &ndash; Italy, S</a> substantially lower transaction values &ndash; Italy, S<a title="ERP 2010.pdf page 36" href="http://viewer.zmags.com/publication/347728e7?page=36">King Sturge: European Retail Propertygravita</a> King Sturge: European Retail Propertygravita<a title="ERP 2010.pdf page 37" href="http://viewer.zmags.com/publication/347728e7?page=37">Map 4: Shopping centre investment 1999 - 2008: Do</a> Map 4: Shopping centre investment 1999 - 2008: Do<a title="ERP 2010.pdf page 38" href="http://viewer.zmags.com/publication/347728e7?page=38">King Sturge: European Retail PropertyTable </a> King Sturge: European Retail PropertyTable <a title="ERP 2010.pdf page 39" href="http://viewer.zmags.com/publication/347728e7?page=39">Occupier markets have therefore fallen under the</a> Occupier markets have therefore fallen under the<a title="ERP 2010.pdf page 40" href="http://viewer.zmags.com/publication/347728e7?page=40">King Sturge: European Retail Propertyin&#64258;atio</a> King Sturge: European Retail Propertyin&#64258;atio<a title="ERP 2010.pdf page 41" href="http://viewer.zmags.com/publication/347728e7?page=41">shifted away from the landlord to the tenant. The</a> shifted away from the landlord to the tenant. The<a title="ERP 2010.pdf page 42" href="http://viewer.zmags.com/publication/347728e7?page=42">King Sturge: European Retail PropertyThe fut</a> King Sturge: European Retail PropertyThe fut<a title="ERP 2010.pdf page 43" href="http://viewer.zmags.com/publication/347728e7?page=43"></a> <a title="ERP 2010.pdf page 44" href="http://viewer.zmags.com/publication/347728e7?page=44">LOCATIONSUKEngland &bull; Scotland &bull; WalesTH</a> LOCATIONSUKEngland &bull; Scotland &bull; WalesTH