Retail Estates Conference Call 1H23/24 Feedback
The sentiment on consumer spending was relatively muted with spending from consumers under pressure in certain area's. Retailers that are “price followers” suffer more as it is hard to raise prices for them. City center tenant rents have been under pressure for a long time, now some tenants could come under pressure if they have low margins. As RET has mostly high margin tenants, CEO is not too worried, but tone remains cautious. Also some cities that are under pressure financially have been increasing local taxes on parks, also on parking spaces, etc...Retail Estates is a niche fixed-capital real estate investment fund that invests in retail properties located on the periphery of residential areas or along access roads to urban centers. Co. buys properties from third parties or builds and markets shop premises for its own account. The outlets have a built on surface areas of between 500m2 and 3,000m2. A typical retail property has an average surface area of 1,000m2. As of Mar 2010 Co. had 399 premises in its portfolio. The retail lettable area amounted to 398,754m2.
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