There appears to be an emerging trend in the secondary shopping centre market with banks now refinancing assets that had previously been considered underwater and up for grabs.

With so many secondary centres on the market sales prices are not meeting banks’ expectations – potentially leaving the lender nursing an even bigger loss.

Rather than face a ‘bargain basement’ sale, which would inevitably cause much embarrassment to the bank, loans are being renewed and landlords are being given much needed breathing space.

This helps the landlord to take a much tougher negotiating position when dealing with tenants and provides cash to carry out much needed asset management initiatives.