How is it going at your local mall?
The Riccarton Mall currently has nine empty shops & one 'pop up' clothing shop. The 'pop up' looks very temporary with trestle tables etc.
Apart from the empty shops there is a floor space at the South entrance which usually has some retailer but is vacant right now. There is also a
Meccano shop that could be empty soon if the chain does not get a buyer.
The largest empty shop is the former Rebel Sports that moved out of the actual mall and across the road. This has been empty for a while. Several other shop
have been vacant for a while as well. And there is very little sign of activity such as new shops being prepared. Most of the empty shops
have the lights turned off.
There are two empty shops next to Farmers that are being used as advertising for Farmers & I include these in the nine shops. This is quite clever,
you have to be paying attention to recognise them as empty shops!
The CEO of Meccano has commented that retailing in the malls is a tough business & as Meccano are in liquidation seeking a buyer, you'd have to believe him.
This would be the most empty shops I have seen at the Riccarton mall, & far more than Northlands Mall. Strangely enough Riccarton seems to be
the mall with the highest foot traffic by far.
So how about your local mall(s)?
Not surprising though; the rent is huge when compared to operating as a stand alone store - the rent for the organisation I worked for before was $22,000 per month at the Queensgate Mall in Lower Hutt. In the end the rental prices are unaffordable and the only reason many businesses keep in the mall is that they believe they'll lose foot traffic if they don't. The interesting part about Queensgate Mall Lower Hutt is the fact that they're not rebuilding the theatre (I could never see the movie theatre making money given how few people us it outside of the time kids have off from school) plus rumours of some retailers leaving.
I wonder what they are going to do with the part they demolished, which is now just an open air car park and looks bad. The Hutt is missing a decent sized theater these days, QUeensgate was really the only one, apart from the small boutique ones. Guess most people are now just watching at home.