According to the Clur Report of SA Retail Property, sales per square metre in shopping centres – from large super regional malls to neighbourhood ‘locals’ – continued to grow in March. The industry barometer tracks the performance of more than 2-million square metres of retail space in South Africa and Namibia.
Belinda Clur, MD, Clur Research International
The favourable upward trend seen since September in annualised trading densities has continued and has now broken through zero on a nominal basis, says Belinda Clur, MD of Clur Research International.
She says the key consolidated Clur benchmark for subscribing South African shopping centres showed annualised trading density for March of R33,280 per m2, representing year-on-year growth of 1.8%. The respective February figures were R33,035 per m2 and 0.4%. This represents a consistent improvement on the -1.7% level reported in September 2017.
The March Clur benchmark for annualised trading density at super regional and regional centres showed year-on-year growth of 1.2% to R35,332 per m2. That compared with the February benchmarks of R35,057 per m2 and -0.5%.
At small regional, community and neighbourhood centres, the Clur benchmark for annualised trading density in March was R28,737 per m2. That meant year-on-year growth of 3%, better than the 2.3% and R28,558 per m2 reported for February.
Overall, turnover across the monitored properties grew 7.1% in March 2018 against March 2017, and was up 3.3% over the 12-month rolling period to March 2018.