Richard Loh, CEO and Founder of Eurostop, talks about the product that has already had major traction in Asia; now being released in the UK and Europe. As advertised in the November issue of Retail Week Property Supplement.
- Eurostop’s Tenant Management System now available in the UK & Europe
- New turnover based rental model is designed to keep shopping centre space leased
- 2 months free trial available (available in the UK & Europe, terms and conditions apply)
Our Tenant Management System, e-mall, is already in use by leading shopping mall operators in Asia such as SingPost, Tanjong Pagar, Frasers Centrepoint Malls and Gardens by the Bay. I’m pleased to let you know that it is also now available in the UK, offering a new way to manage your retail tenants and F&B tenants.
It will allow you to optimise the way in which you lease your retail space.
I think it’s a great time for shopping centre owners, or any owners of retail or F&B leased space to consider this model. With new digital channels, the physical space has still proven to be an equally important part of a brand experience, however economic uncertainty along with the changing retail landscape mean that landlords must also adapt to maintain footfall and lease occupancy.
We have seen that retailers can struggle to keep up with the high annual rental lease options offered by shopping centres in the UK. It leaves them with limited cashflow and can mean that they have to reduce their physical footprint. This can leave landlords with empty space, which isn’t good for the shopping centre. Using a rental plus commission/turnover model, shopping centre owners can offer a more flexible partnership, so that their retailers can have more fluidity with day to day cashflow.
I also encourage landlords using our Tenant Management System to take advantage of the live and on the go reporting available in our system. Being able to react to seasonal, daily and even hourly fluctuations, and retailer promotions means that they can use these valuable insights to see what is working and drive further footfall. I can also let you know that we are soon to release further reporting for tenants that will help the retailers to strategise as well.
If a retailer is doing better, then ultimately, this benefits the shopping centre and keeps the space filled.