COTD: Prime retail rents up by 0.3% QoQ in Q3

Suburban prime malls also saw rents grow 0.3% QoQ.

Prime retail rents rose by 0.3% quarter on quarter during the third quarter of the year as international brands seek to gain a foothold in high-footfall locations, according to a Cushman & Wakefield report.

Recent new-to-market entrants include Australia’s Yo-Chi, China’s Joocyee at Wisma Atria, Denmark’s Flying Tiger Copenhagen, and US’ Alo.

Suburban prime malls also saw rents grow 0.3% QoQ, driven by resilient non-discretionary spending and low vacancy rates across all suburban retail spaces.

Despite closures amongst some F&B and cinema operators, other activity-based retailers are still expanding.

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