Councils have accounted for 12% of all shopping centre purchases since 2016, according to new data.
Research from retail property organisation Revo and Lambert Smith Hampton (LSH) shows local authorities have invested over £770m in shopping centres since 2016, accounting for almost one in five transactions.
The research predicted the investment will top £1bn by the end of next year.
It said centres that also offered better housing and reforms to business rates would improve the future of the high street.
