Operating expenses rose 10.15% in neighbourhood & town centres this year, rose 18.9% in city centres, but fell 11.34% in district & regional centres, the Property Council’s annual survey shows.
The median in neighbourhood & town centres was $47.31/mÂ² (up from $42.95/mÂ²), district & regional centres $82.13/mÂ² (down from $92.63/mÂ²), and city centres $128.90/mÂ² (up from $108.41/mÂ²).
In all categories, rates were down slightly â€“ neighbourhood & town centres $14.05/mÂ², district & regional centres $15.34/mv and city centres $19.48/mÂ².
The cost of cleaning rose 26% in city centres, from $26.89/mÂ² to $33.78/mÂ². In district & regional centres it was down slightly to $17.79/mÂ² and in neighbourhood & town centres it was down almost $2 to $7.92/mÂ².
Administration, including centre management fees, fell slightly in city centres to $22.19/mÂ², rose by $4/mÂ² to $25.45/mÂ² in district & regional centres, and fell slightly to $7.04/mÂ² in neighbourhood & town centres.
The cost of insurance rose 64% in city centres to a median $6.66/mÂ², 23% to $4.93/mÂ² in district & regional centres and 40% to $4.28/mÂ² in neighbourhood & own centres.
The survey covered 47 shopping centres containing 556,302mÂ².