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JANUARY 2024 NEWSLETTER

The retail sector in the second half of 2023 saw consumer sentiment face headwinds amid consecutive interest rate hikes and inflationary pressures.

Bricks-and-mortar retailers in shopping centres bore the brunt of the change in the retail environment although the Landlord’s narrative throughout the year was “traffic is up’’.

The fact remains with the  tightening of household budgets, transactions across the majority of categories were down on previous years.

Leasewise Projects

JUL 2023 TO DEC 2023

Irrespective of retailers performance & viability, Landlords still maintained their demand for payment of rent in full and on time.

In many instances, Landlords displayed signs of aggression, sought to claw back concessions granted during the pandemic, locking out retailers facing financial distress.

This will bring its own set of challenges throughout 2024 as they maintain a more rigid stance on contractual obligations.

However, Landlords with the foresight and willingness to work with SME’s through these economic challenges will benefit the most.

Despite the retail environment in the post covid era, Leasewise in the last 6 months still managed to introduce sixty-one new sites to the market & renewed twenty-five existing sites across the country. This shows there are still great opportunities for retailers to capitalise on and increase their market share, if they obtain good leasing advise and representation.

Leasewise have been the leaders in assisting retailers with all their leasing needs, from sourcing new sites, negotiating renewals at market terms, market appraisals and reshaping existing leases.

New Sites by Region

Store Openings in 2023

FURTHER STORES COMING SOON

Bad Workwear – Highpoint (relocation) VIC

Bad Workwear – Merrylands NSW

13 De Mazo – Emporium VIC

Chatime – Southgate  VIC

Little Bad Wolf – Croydon VIC

KFC -Spencer St   VIC

KFC – Balwyn VIC

Funtopia -Pakenham VIC

Priceline – Werribee  VIC

Play It – Southgate VIC

Wootea – Hurstville NSW

Find out more about our services

Our commitment to our retail partners is to continue achieving exceptional outcomes for their businesses. Retailers looking for tailored leasing assistance, feel free to reach out to one of our expert & passionate team member who can provide specialised retail leasing services across a broad range of retail categories.

We thank you for your ongoing support and we look forward to
connecting with you again in our mid- year Market Update.

The Leasewise Team