When you look at a shopping centre in any location, there are many things to review and assess. There are plenty of comparisons to be made and opinions to form. That is because there are so many variations of activity that can impact a property over time.
The Important Retail Property Factors to Know
Many investors, and perhaps those that are more ‘inexperienced’ or ‘small scale’, are focused largely on rental income and boosting that. If only shopping centre performance was so easy! A successful shopping centre and its performance are driven from the fine balance of activities including:
- the tenancy mix
- lease documentation
- property condition
- customer attraction
- tenant selection
- the local economy
- rental stability
- the competing properties
Any experienced professional retail property specialist knows that there are some key factors to retail property performance and all of those elements form part of the bigger picture. I like the checklist approach to the assessment of shopping centres.
In this special retail property report, you can get plenty of ideas as to how I would walk into a shopping centre and assess its potential for performance and opportunity. You can build your checklist from these essential assessments.