Quote:
Originally Posted by bitontheslide
The corporate structure that Intu is a part of makes the whole thing quite complicated. Apparently this wont really affect the shopping centres as the ownership falls to the banks etc that had already invested in them, so there *shouldn't* be that much knock on effect. What it affects is the ability of Intu to build new centres
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Yep if the company is dismantled the physical centres will fall into the ownerships of the banks they're indebted to, who will most likely sell them on to someone else at a rock-bottom price. Prepare for "Amazon Supercentres!!" or something
Quote:
Originally Posted by Ammi
...Intu or whoever would own them, must be reliant on individual shop rents being paid as well...(...I’m not up on how these things work..)...but the individual retailers will be struggling as well to pay their rents with the close down of business they’ve had and Intu would have been relying on that...that must also be a knock on effect..?...
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That's true and during lockdown, landlords have a bit of a tough call to make with retailers who can't pay rent. They obviously have the right to kick them out... but chances are they wouldn't be able to fill those units for months (sometimes years) so the only really sensible choice is to suck up the loss and let the store resume rent payments post-lockdown.