Provide the ideas/plans and strategies to help improve businesses for the subject shopping center for next several
Question:
Provide the ideas/plans and strategies to help improve businesses for the subject shopping center for next several years.
Subject shopping center have 22 tenants and remaining lease term is 7 years. WALE income is 3.09 and WALE area is 3.16.
There are now no direct rivals for the subject shopping center in the area, however this is soon to change in the coming year. A larger newer and more convenient shopping centre is currently under construction less than a kilometre away opposite the Train Station. Moving future, this will have a serious impact on turnover and business. The $140 million new shopping center development, which will include a 12,000 square metre retail centre with 1,400 parking spaces for commuters and retail consumers, is expected to be finished in the fourth quarter of 2023. The subject shopping center is listed as soon as possible as there will also likely be a decrease in WALE values