RETAIL
In many respects , in looking at this revival , current times can be likened to a renaissance .
TIME FOR ENLIGHTENMENT
Against this backdrop , from our market interpretation of strategic positions , we have seen a move from a chameleon to a hybrid and now to an enlightened shopping centre concept . The chameleon shopping centre represented a move to fluid rather than fixed formats , comprising an ever changing , quickly adaptable , high impact , connected and interactive experiential environment . The hybrid shopping centre concept emerged during the Covid lockdown , embracing the need for a new mixed use format including retail , storage warehousing and showrooms . Agile design as times change allowed vacant retail space to generate
income , albeit at a different rate , shortening the supply chain , limiting stock issues , driving efficiencies and ringfencing lost turnover rental to online sales .
The enlightened shopping centre takes the best from both of these models and also operates at a higher emotional level . Most importantly , it celebrates humanity and holds a higher intelligence with sensitive interpretations . It provides a safe and accepting space for personal expression and evokes a sense of ease and belonging . It has resonance , spanning several dimensions and generations . It honours the old and embraces the new , being both traditional and cutting-edge , global and local .
At its heart , it understands people , holds a rich sense of life and respects the world .
108 AUGUST 2022 SA Real Estate Investor Magazine