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Sales per square metre in shopping centres - from large super-regional malls to neighbourhood 'locals' - continued to grow in March.
Sales per square metre in shopping centres - from large super-regional malls to neighbourhood 'locals' - continued to grow in March.

Industry barometer shows strengthening shopping centre trade

MARKETING NEWS

By Belinda Clur Research International - Jun 7th 2018, 14:52

According to the Clur Report of SA Retail Property, an industry barometer tracking performance at more than two million square metres of retail space in South Africa and Namibia, Sales per square metre in shopping centres - from large super-regional malls to neighbourhood 'locals' - continued to grow in March. 

The favourable upward trend seen since September in annualised trading densities has continued and has now broken through zero on a nominal basis, says Belinda Clur, whose company reports benchmarks and other key trading indicators to listed and unlisted property funds.

Year-on-year growth

She says the key consolidated Clur benchmark for subscribing South African shopping centres showed annualised trading density for March of R33 280 per sq m, representing year on year growth of 1.8%. The respective February figures were R33 035 per sq m and 0.4%. This represents a consistent improvement on the -1.7% level reported in September 2017.

The March Clur benchmark for annualised trading density at super regional and regional centres showed year on year growth of 1.2% to R35 332 per sq m. That compared with the February benchmarks of R35 057 per sq m and -0.5%.

At small regional, community and neighbourhood centres, the Clur benchmark for annualised trading density in March was R28 737 per sq m. That meant year on year growth of 3%, better than the 2.3% and R28 558 per sq m reported for February.

Overall turnover across the monitored properties grew 7.1% in March 2018 against March 2017, and were up 3.3% over the 12 month rolling period to March 2018.

 

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