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Retail developments continue breaking ground around the country despite the overall economic climate. Vacancies in the retail market remain the lowest on average compared to the office and industrial markets. Nonetheless, the regional and super regional centres have seen marginal increases in vacancies this quarter. This is largely driven by a decision by certain international brands to close some of their standalone stores to operate primarily under the Edgars umbrella. Smaller centres, on the other hand, continue to deliver great performances with vacancies dramatically declining from 9.0% to 5.2%, a clear indication of increased demand for retail space in these centres.
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01 June 2017