Malls report an increase in foot traffic

File: An image of Sandton City.

File: An image of Sandton City.

Flickr

JOHANNESBURG - Property group Liberty Two Degrees has experienced a steady increase in activity at its malls after a further easing of the country's lockdown restrictions earlier in September

Liberty Two Degrees owns the likes of Melrose Arch and Sandton City.

The group says the latest weekend foot count across the portfolio is at 80-percent of 2019 levels.

Weekend foot traffic in Sandton City sits at 85-percent compared to the same period last year.

READ: Malls becoming COVID-19 health hazards

Midlands Mall is at 88-percent and Eastgate Mall has seen 97-percent of the foot traffic compared to last year.

Rental collections are also improving.

The group says based on the full amounts due and before any rental relief, rent collections increased to 74-percent at end-August, from 38-percent in April.

Source
eNCA