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This paper employs a unique dataset to analyse the retail rental levels of 1108 retail tenants in 148 UK regional shopping malls. The dataset integrates information regarding the characteristics of the shopping centre, the individual retailer, the brand, the individual unit occupied, the tenancy term and the regional location of the centre. Econometric analysis suggests that retail rents behave largely as predicted by theory although there are particular features of the UK rental market which may be somewhat distinct from other countries. To the best of our knowledge, no previ-ous UK or European work has been able to analyse the determinants of retail rents at such a comprehensive level of coverage or such a level of disaggregation. The dataset enables us to model rents in relation to tenant characteristics, mall characteristics and wider catchment characteristics: most prior research has a narrower focus, examining within-mall and tenant characteristics or spatial varia-tions in rent, but not both simultaneously. For example, Carter’s (2009) review article on shopping centres identifies studies that 1