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I attended SCIL's agm today.
Very detailed agm.
The Hub has two major tenants,The Farmers and Pak "n Save.
The high presentation standard of The Hub,has attracted strong tenants.
Clothing retail is down while food including the food court is well up.
The strength of the food court is encouraging as often when times are tough people tighten their belts.
High interest rates are a doubled edge sword;higher bank interest expenses together with downward property revaluations also reduce the business's profit.
It is good to know Canterbury's economy is strong and The Hub's catchment area is growing, as is the catchment area's income.
Most Malls lack fun.entertainment or just being a nice place to visit.
The Hub is a very refreshing Mall and it is easy to see why it is attracting the customers.
May take a year or two ,however I see The Hub is "well positioned" to benefit from lower interest rates ,and their strong tenant mix will see upward revaluations,which will lead to higher dividends.for shareholders .
Last edited by percy; 24-07-2023 at 09:21 PM.
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I note Christchurch Mayor Phil Mauger comments when opening the new Matatiki Hornby Centre.
"With over 12,000 new homes expected in Hornby and surrounding areas by 2044".
Be good for The Hub.
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