Shopping Centre Leasing – How to Optimise Tenancy Mix

When leasing a retail shopping centre as a real estate agent you have to be focused on the net improvement in customers visiting the property, the levels of trade, and the tenancy mix. To achieve that awareness there is a real need to profile what the customer to the shopping centre wants and where they are coming from. A demographics analysis is wise before starting the leasing process. Surveying the customers to a property on different days of the week can also be very useful. Invariably they know what they want and what is missing from the property. The tenancy mix can then be adjusted.

To break down the trading pattern of a shopping centre the data and considerations required are both weekly and seasonal. That says that the trade of the tenants during the average week will change between Monday and Friday as well as the seasonal shift during the year. It could be that the seasons are also impacted by tourists and transient movement through the suburb or location.

The tenant’s trade should also be broken down into sub-sets such as:

  • Ladies fashion (break into subsets)
  • Men’s fashion (break into subsets)
  • Sporting goods
  • Fast Food
  • Restaurants
  • Music
  • Computers and Gaming
  • Books
  • Jewellery
  • Entertainment
  • Electrical
  • Supermarket
  • Anchor tenants
  • Financial Service groups

The main way to get trading figures from tenants is to put the requirement into the lease for the shopping centre. Each month the trading figures are gathered from the tenants and then applied to the groups as above. Tracking the trends in the groups will tell you what is working and what is not. The Property Manager can then see what changes are necessary. 레플리카 시계

Ideally you want to find the poorly performing tenants and the poorly performing products or services. This then allows you to drill down on rectification.

Poor performance in a shopping centre or with a particular tenant has to be solved without delay as it will potentially drag down the other tenants around it. The customers to a shopping centre soon sense when something is not going well and they know when a tenant is struggling.

To lease a shopping centre it is a matter of being on top of vacancies before they occur. New tenants, new leases, refurbishments, assignments, expansion of premises, contraction, or redesign of premises, they all come into the leasing strategy. The lease terms up for negotiation should incorporate basic strategies that pick up these changes.

You may also like