“The good oil”, an old Australian expression that refers to the practice of giving reliable, sound and truthful advice on a given subject - I thought this was an appropriate name for my blog.
The following articles have been written by me and primarily relate to retail property leasing and more broadly the retail industry in Australia. They are designed to be interesting and to assist retailers, however from time to time I will also make comments and observations about economics, geopolitics and social affairs here in Australia and overseas that I believe have a bearing on the retail industry.
All articles that I write are my own personal views and whilst I take great care when researching all subject matter, anyone reading these articles should do their own research and should not rely on any views expressed in my blog. You should always do your own independent research to satisfy yourself before embarking on any business venture.
I hope you enjoy my blog, “The Good Oil”
Cheers
Michael
Outlook for the retail leasing market in 2015…
This time last year I wrote an article about the outlook for the retail leasing market in 2014, so I thought we should re-visit some of my predictions, before I give my views about what to expect in 2015.
In 2014 retail rents came back a little, but probably not a great deal, however significant lease incentives continued to be offered by larger landlords which I did predict would occur. During 2014 it wasn’t unusual for savvy retailers to secure capital incentives from large landlords when negotiating new leases, particularly where their shopping centre was undergoing re-development. Smaller landlords generally don’t have the access to cheap capital, so their incentives came in the form of rent free periods. (more…)