Super Regionals
Super regional centres achieved the highest market rental rate of R307.97 per square meter in September 2024, despite experiencing a contraction in trading density growth. The growth rate for super regionals was 2.9 % year-on-year, the second-highest of all categories.
Clur notes:“ Super regionals have held the top growth performer position since 2021, but since July 2024, smaller centres have begun to outperform. However, super regionals still command the highest rental rates, showcasing the enduring value of large-scale centres in premium locations.”
Small Regional Centres
Small regional centres, in contrast, showed the highest trading density growth of 3.7 % year-on-year, surpassing even super regionals. They also posted a strong rental growth rate of 6 %, making them the top performers in terms of year-on-year rental growth.
Clur comments:“ Small regionals have increasingly become the go-to spaces for consumers seeking local, accessible retail. The shift towards these centres underscores a broader trend towards social impact retail, where retailers focus on serving the community and local economic needs.” Small regionals also experienced a slight increase in trading density growth compared to Q2 and Q4 2023, suggesting resilience despite broader market challenges.
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