Super-neighbourhood centres will outperform market benchmarks of financial performance by engaging local communities. Urbis National Director Matt Cleary explains why to Inside Retail.
A super-neighbourhood centre is defined as around the same size as a subregional centre, but with a tenancy mix more similar to neighbourhood centres with a focus on convenience and specialty retail, fresh food and entertainment, as well as emerging services like work environments and social spaces.
“Our analysis of the emerging super-neighbourhood category shows these centres have the capacity to deliver higher in-store sales through longer and more stable shopping patterns, in turn supporting higher rental growth which, in turn, drives value,” Matthew Cleary said.