With the dwindling fortunes of the retail sector, property developers are re-strategising by using anchor tenants to woo subscribers to their outlets, thereby increasing patronage of their facilities.
The Guardian investigation shows that shopping malls across Lagos and Abuja are not performing optimally, as traffic has reduced by almost 50 per cent in some cases. The spiral effects could also be felt in the reduction of occupancy levels and financial performances.
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Findings also show that an average shopping mall requires footfall that ranges between 2000-5000 daily to survive. Speaking on the development, an estate surveyor and valuer, Mr. Rogba Orimalade said anchor tenants are pivotal to the success of most retail facilities because they take the biggest space, and drive traffic that is translated into naira and kobo.
Credit: Guardian
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