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AUSTRALIA, 13 MARCH 2013 – A survey conducted by Jones Lang LaSalle has found that sentiment among shopping centre managers is slowly being repaired, consistent with trends in consumer confidence.
The Retail Centre Managers’ Survey, conducted quarterly across Jones Lang LaSalle’s managed portfolio of 173 centres, was taken in February and found:
• 53% of Centre Managers expected some growth in sales over the next 12 months. Only one in five expected a decline in sales, which is the lowest level in the six surveys conducted to date • Only 43% of respondents expected to see rental growth in the next 12 months, slightly higher than in November (39%). Face specialty rental growth is slowly accelerating. The average passing specialty rent for sub-regional centres rose to 3.8% over the year to December 2012 from 3.0% in the year to September 2012, while neighbourhood centre rents rose marginally from 3.5% p.a. to 3.6% p.a.• Sub-regional centre sales growth averaged 3.2% in the year to December 2012, an improvement on the annual growth reported in June and September but slightly lower than the growth rate in 2011 (3.8%)• Centre Managers in WA remain more positive than their interstate counterparts about the year ahead, due to continued strong economic conditions and the relaxation of Sunday trading laws in August 2012• Supermarkets and food retailers are the most active retailers looking to expand their operations, although enquiry in all categories remains subdued
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