Capital Shopping Centres (CSC) cast a light on the tough retail environment today, reporting falling occupancy levels and footfall so far this year.
The firm said it had seen a 2% year-on-year reduction in footfall at its centres for the year to date.
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Occupancy across CSC's centres stands at 94.35%, down 2.4% from the end of 2011 due to post Christmas tenant administrations and expiry of seasonal lettings.
The firm said 3% of CSC's rent roll, 75 units, entered administration in the first quarter of 2012.
"While the UK retail environment remains tough, we continue to benefit from last year's transformational Trafford Centre acquisition as we focus on securing the right retailers in the right places paying the right rents with the objective of achieving strong total returns from our assets," said Chief Executive David Fischel.
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