LaSalle backs UK out-of-town retail assets with

LaSalle Investment Management ("LaSalle"), the global real estate investment manager with US $37.5 bln. in funds under management, is leading a countercyclical investment in the UK out-of-town retail market. The company has invested heavily in the sector, based on its analysis that retail should out-perform the overall market over the next five years.

LaSalle has acquired 29% of all out-of-town retail acquisitions made over the last 12 months including Borehamwood Shopping Park, Silverlink Retail Park in Newcastle and The Eastgate Centre in Bristol. It believes retail assets in stronger towns and those let with good covenants, will significantly out-perform the market in the medium-term. Good quality warehouses will attract retailers seeking well-configured space in desirable locations and on a more affordable basis than the high street. However, LaSalle warns that tenant covenants need to be examined closely.

Alan Tripp, Managing Director of UK Business, LaSalle Investment Management said, "Our strategy to invest heavily in the retail sector has already been vindicated with yields improving substantially since the start of the year

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