Thought we’d share this really interesting piece from Smart Company. It’s called Shopping centre vacancies hit 20-year high as COVID-19 wreaks havoc on retailers.
In it, Matthew Elmas shares some thought-provoking insights. Here’s one of them:
With hordes of office workers stuck at home and many larger retail chains downsizing their physical store portfolios, new research from leasing agent JLL shows the national average shopping centre vacancy rate rose to 5.1% in June 2020, up from 3.8% in December 2019.
The vacancy rate has risen across every retail category, with smaller increases in neighbourhood and sub-regional centres somewhat offsetting the impact of an historic spike in CBD vacancies, which soared past 10% in June.
It’s a really packed article so read the rest of it at this link to Smart Company.