The Property Industry Group announces its retail tenant assistance relief package
The Property Industry Group has announced an industry-wide assistance and relief package for retail tenants that are hardest hit by complying with South Africa’s lockdown in the face of the COVID-19 pandemic. The initiative, which focuses principally on supporting affected SMMEs, also provides relief and assistance to all other retail tenants and will be rolled out by landlords nationally. During the week of 23 March 2020, the major representative bodies for real estate in South Africa – the SA REIT Association (SA REIT), SA Property Owners Association (SAPOA) and SA Council of Shopping Centres (SACSC) – formed a collective, which …
Who’s taking over those empty spaces in shopping malls?
Picture yourself doing yoga in a store space in your local shopping mall or even attending lectures at a private college that has just taken over the space once occupied by a shuttered department store? That’s what’s happening in the USA, according to an article in the IFA Franchise Brief newsletter. Residents in Middletown, N.Y., might have lost one of the 80 Sears department stores that closed in recent years, but in its place is Gold’s Gym, capitalising on the vast amount of space where they can operate a full-amenity fitness club offering perks like group fitness classes, smoothie bars …
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