Fourways Mall. Picture: JEREMY GLYN
“The fund has experienced considerable income pressure on a number of fronts,” it said on Thursday, citing higher administered prices and finance costs, and pressure on rentals. Accelerate said while it reduced vacancies to 9%, from 10% a year before, “this came at a cost, including softer rentals to retain tenants, rent-free periods and tenant installations”.
But the landlord’s fundamentals remained intact, Costa said, citing a tenant-retention rate of 86%, lease escalations of above 7%, and a weighted average lease expiry of more than 5%. The mall could catalyse the Fourways area just as Sandton City had catalysed that precinct, Accelerate said. “However, given SA’s cloned tenant mix and over-supply of formal retail space, a relevant, high quality tenant mix with both convenience and ‘Shoppertainment’ offerings will be paramount to the success of the mall,” said Eichstadt.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Listed property stocks a hard sell, say fund managersPanel of experts at Sapoa conference points to weak economic growth and less capital raising at home.
Herkunft: BDliveSA - 🏆 12. / 63 Weiterlesen »
Naspers Foundry fund makes first startup investmentSweepSouth, which operates an online cleaning services platform, gets R30m injection
Herkunft: BDliveSA - 🏆 12. / 63 Weiterlesen »