Three quarters of retail landlords turn to repurposing

Up to three quarters of retail property landlords are either considering or undertaking redevelopments, with 18% already completing projects. If the amount of retail space at an asset needs to be reduced – or if efforts at repositioning the retail offer does not work – 85% of landlords would consider residential as an alternative use. This is followed by health and community (80%), according to the latest findings from Savills. The survey gathered responses from 30 companies with 1,000 schemes; these firms collectively comprised 30% high street, 22% shopping centre and 20% retail parks as well as department store, supermarket