GPT's Wollongong shopping center is slowly becoming a ghost town. Shops keep going out of business every month. Look like no one is renewing their lease (when it expires).
What sort of impact does it have on GPT's future earnings? Anyone know how much of GPT's revenue come from the Wollongong Center? Any chance of dividend payment getting cut in the future?
The following businesses have left GPT building in the last 12 months or so:
- David Jones
- Oporto
- NIB
- Few Jewellery shops
- Few clothing stores
- Couple of barber shops
- Couple of Sushi places
- Few Asian and Indian places in the foodcourt.
- Couple of Cafes
- Yogurt place
- Michelles
- Bakers Delight
- Uncle Pete's Toys
- Tarocash
- AND a few others....
It is rumored that Myer and a few other places are on the way out.
Just a few news articles on these:
http://www.illawarramercury.com.au/story/2812072/end-of-an-era-for-uncle-petes-magic-toys/
http://www.illawarramercury.com.au/story/3392510/retailer-merges-stores/
http://www.abc.net.au/local/photos/2015/08/14/4293572.htm
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