Originally Posted by
percy
Mall owners are now facing a few challenges.
The Farmers are now putting pressure on mall owners.
The Farmers own store is a "major" and as such pays a modest rental,as do the likes of Pak'n Save/Countdown, and The Warehouse.
So Farmers now own Stevens,Bed bath and beyond,Pascoes, Whitcoulls,and another Jeweller [whose name I forget].
I believe they have already managed to have Whitcoulls rent substantially reduced in one ChCh mall,which is owned by Kiwi Property.
I would expect they will be doing the same for all their chains' stores.
I do not see Michael Hill, for example, being happy paying a higher rental than Pascoes.
Bookmarks