Yields, which run inversely to value, have risen to to 7.5 percent for sub-regional malls, while for neighbourhood centres they have sharpened to around 6 percent, the largest gap in almost a decade.
Tide goes out: Small businesses under pressure as insolvency threat mounts
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After losing nearly half of her customers in the coronavirus lockdown in March last year, Sydney small business owner Shirley Sun was starting to think her only option would be to shut down for good.
Her Chatswood-based fitness studio, Leap Health and Wellbeing, had never been quieter, hurt further by its reliance on inner-city office workers. “I was potentially looking at putting my business into administration. It was really difficult and challenging,” she says.
Shirley Sun in her pilates studio.
Credit:Cole Bennetts
Thankfully, after eight months of wrangling with her landlord, Sun has finally renegotiated the terms of her lease and gained rent relief, meaning her business will live on.