Retail is counting on holiday spending

RETAIL property owners are hoping Black Friday and the festive season will inject some much needed consumer spend into the industry as the impact of the Covid-19 pandemic continues to plague tenants and affect shopping malls.

Many tenants are in arrears with their rents and are asking for further payment relief from landlords while lease renewals are also strained, says Theresa Terblanche, divisional director at Broll Retail Leasing.

However, the easing of lockdown regulations has seen a pick-up in the number of shoppers