Retail Space Cape Town
Taking note of the economic climate of our times one would expect retail to be the first dwindling commodity in our industry. However this is not happening. The enquiries for retail space are at a steady pace. We have found that whether companies are expanding or entrepreneurs are starting new ventures the demand for retail premises is still there.
Larger national retailer users will open more stores with a lot more consideration to immediate influences of the area and position. They might even venture into the target markets that they would not normally consider. The size of the stores could also vary from historical specs, but it is still happening. It seems that larger groups feel more visibility in these times will ensure escalation in sales. Some of these nationals may even opt to change to smaller retail spaces, but rather increase the number of stores. These tendencies are seen in all areas.
It is a very positive sign to see the smaller operators also expanding rapidly into larger retail space. Very often these shop owners have a number of outlets already and assist friends or family to create a new business. Their buying power in numbers from the wholesale industry certainly benefits all.
Entrepreneurs are on the rise as is normally seen in harder economic climates. They would normally start with smaller retail outlets to establish the business. Landlords are generally being more sympathetic towards assisting Tenants in establishing their new retail outlets which in turn might lead to lower than expected rentals with higher escalations. This gives the retailer at least a year to get on his/her feet.