I went to go and get Chinese last night and pulled into our favourite takeaway place near Cresta.
The shopping centre I went in had 7 (thats right 7!) shops that had been boarded up and were listed as TO LET out of 25.
A key anchor tenant who had a double story restaurant was one of the most noticeable tenants missing.
Says a lot for the state of the commercial property market in SA... Going to be interesting to see what effect this has on SA commercial property rentals. Anyone noticed whether rental rates are coming off yet??
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With the current world economy I think we are going to see lots of businesses go under. The thing though is that I think we will see the quality businesses get stronger because people are getting much more specific about what they spend their money on.
Fair comment. Going to be interesting to see what happens on the pricing side and the rentals that people are able to command.
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