A deduction in a retail valuation or cash-flow model reflecting expected empty units and rent-free voids between tenancies, so income projections aren't overstated.
Related terms
- Category killer
A large specialist retailer that dominates a single product category on range and price (electronics, sporting goods, home improvement), pulling trade away fro…
- Click-and-collect
A service where customers order online and collect in store, blending e-commerce convenience with store footfall; landlords value it because collection trips d…
- Convenience retail
Small neighbourhood stores serving frequent, need-based top-up shopping (grocery, pharmacy, food-to-go); resilient to e-commerce and a staple of residential co…
- Destination retail
Retail that draws visitors for the experience itself, not just convenience.
- Dwell time
The average length of time a visitor spends at a retail or leisure destination.
- Experiential retail
Store and centre formats built around experiences (dining, entertainment, events, leisure) rather than pure transactions, used to defend footfall against onlin…
- F&B
Food and beverage - an increasingly important driver of retail footfall and dwell time.
- Footfall
The number of visitors passing through or entering a retail location.