Retail rent arrears hit shopping centre owners

Can shopping centres even guarantee an infection free environment for shoppers and shop owners? Answer is apparently “no” as recent reports show. Infections across Sydney in some of the major shopping centres suggests that this is only going to get worse before it potentially gets better.

Naturally, we’re receiving more calls than usual about rental issues from tenants and landlords – this is mainly due to the coronavirus and its effect on the economy.

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Shopping Centres Australasia Property Group has reported a 22 per cent slump in full-year earnings as specialty tenants fall behind paying rent, with coronavirus restrictions denting their sales.