A hopeful summer ahead
Summer has arrived in Europe and with it, a new sense of optimism in the trade environment.
We hear from Atterbury Europe CEO Henk Deist about his perspective on Summer 2021.
After enjoying the longest day and shortest night of the year in Europe, does Atterbury Europe have any special perspective on any trading opportunities offered by the summer solstice?
We waited long this year for summer to arrive in Western Europe, but it is finally here, and we are now enjoying those long summer days. The weather already puts everyone in good spirits and the much lower COVID-19 numbers and higher vaccination numbers add to the positive sentiment prevailing in Europe. We are seeing the release of propped-up demand improving the trading figures of our retail centers as trading restrictions ease.
Moving into summer and out of repeated lockdowns across the various territories AE operates in, must bring a big sense of relief. Where have you experienced the biggest challenge from a development and asset management perspective this year so far?
Probably Cyprus – we had three lockdowns in 12 months resulting in retailers missing two Easters and a Christmas trading period.
How have you been able to mitigate those challenges?
From an asset management perspective by clear communication and discount strategies with our tenants with the aim of the longevity of our shopping centres. Developments could generally continue, but were in some instances slowed down or had to progress in phases.
What is currently on your plate as the main priority for the season?
The focus is on normalising business as soon as possible and we are working on a few strategic initiatives from a group structuring perspective that will have long-term benefits for the group.
Is there clarity yet on the typical summer holiday period yet – will travel be allowed across Europe this summer, and do you plan for that across the various assets?
There is the idea of a travel pass to be applicable to facilitate travel across Europe, we are still awaiting details. Generally, travel restrictions are being increasingly relaxed.
What about the Atterbury Europe team itself – are you able to travel both for work and to take summer breaks, or is this still being curtailed by the pandemic? To what extent?
From a business perspective, the asset and development management teams have started to travel again. Team members are slowly getting the confidence back to book holidays without the fear of cancellation or another travel voucher! I’m sure we will all take a break sometime this summer.
How have things progressed since last summer – has there been learnings throughout this very challenging period that you are able to apply for better outcomes in either asset management or development this summer?
Last summer things also opened up, only to go back into lockdown post summer. I believe the difference this time is the level of vaccinations. Anyway, we are now well rehearsed and trained as to how to deal with lockdowns and trading restrictions should that be necessary again. But I think that is done now… hopefully! Of course, something else may happen that we did not see coming, but then we will deal with that as well.