Retail is hard work and covid, working from home, zoom meetings and council infrastructure maintenance or improvements (Especially in Wellington city) really are impacting on business owners.
So sad to see the body shop stores close. My wife Kim and I are very saddened as we were working in London when Anita Broderick (Founder) was expanding around the globe. We loved the Body shop purpose!
I am seeing more vacant shops in Wellington which is not a good look. Surely landlords must become more flexible in their rent expectation? Or are they also locked into increasingly expensive costs and need to rent out they’re shops at a high rental just to make ends meet?
I am seeing more and more vacant shops. Does anyone know how rental office space is going?
Not good. Vacancies seem to be higher. How ever building owners who have good equity will probably be in a position to wait it out.
This may be a good time to buy buildings for residential conversion purposes. Especially when trade charges are a bit lower than previous building boom times.