Shoppers crowd the walkways on opening day of the Westfield Stratford City in east London
Shoppers crowd the walkways on opening day of the Westfield Stratford City shopping centre in east London September 13, 2011.REUTERS

Investment in UK shopping centres reached a 10 year high in 2014, according to commercial property adviser, CBRE.

There was a 33% increase of investment in shopping centres and malls last year, hitting a grand total of £5.6bn, dwarfing the ten year average of £4bn per annum.

The largest deal was Land Securities' £656m purchase of Lendlease's 30% stake in Kent-based shopping centre Bluewater.

UK buyers accounting for 70% of all transactions; 13% of deals came from Asian investors; 10% were Americans with Europeans accounting for the rest.

Rhodri Davies, head of shopping centre investment at CBRE said: "2014 has seen strong demand for shopping centre investment.

"The improved economic outlook has boosted confidence that the worst of the retail failures are behind us and an increased appetite for space among retailers is likely to drive rental growth.

"These factors have helped grow the investor pool and volume of money attracted to the sector. We expect 2015 to match, if not surpass, the numbers seen in 2014."

The single largest yearly investment was £8.5bn, which was ploughed into shopping centres in 2005.