Although investors were previously downbeat about retail, the last two years have been good for the sector, according to Paul Kusmierz, principal, of the Master Management Group.
“You talk to other shopping mall owners and landlords and they’re telling us the same things that we’re seeing. We’re almost 100% occupied across our portfolio, we see rents stabilised and actually growing with inflation, and tenants are paying and want to open new locations,” he told Real Asset Insight’s Richard Betts at the 9th annual CEE Summit, staged in Warsaw.
“I think the worst is over. As someone said earlier today, ‘we hit the bottom, so there’s only one way: up’.”
“I absolutely believe retail is doing very well and will continue to do well,” Kusmierz said.
He said that covid was a tough period for retail across the board but there was a rush to get back to the shopping malls and retail parks afterwards.