PHOTO: Supplied
The country’s newest upmarket shopping mall is giving some shops a rent holiday to help soften Covid-19’s economic blow.
Commercial Bay – a $1 billion development with more than 120 shops – occupies a city block in downtown Auckland.
It opened last month – just as vacancy signs started appearing in shop windows along Queen Street.
But even in the city’s shiny new shopping precinct, business is tough.
Chris Monaghan owns Cali Press, a wholefoods café on the ground floor of the new shopping behemoth, Commercial Bay.
He says it was a “no brainer” to open a café given it sits at the gateway to Auckland for cruise ships.
But sales were half those expected and the café is among some the landlord – Precinct – has given a rent holiday.
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