Summary: Earlier this year, Revo launched an industry wide consultation on a proposed new classification for retail assets, the results of which were launched at the conference this week.

Earlier this year, Revo launched an industry wide consultation on a proposed new classification for retail assets, the results of which were launched at the conference this week.

Revo has recognised the industry’s need for a far more nuanced approach to classification. The widely used “primary, secondary and tertiary” descriptions are acknowledged to be too simplistic and subjective for the complexity of retail and can also undermine successful schemes operating in the local markets. The proposal provides a far more objective test, meaning strongly trading “community centres” are not belittled by the old “tertiary” tag and investors can recognise their value.  Assuming it is embraced by the industry, this standardised classification will assist with comparing assets more readily, allowing true differentiation on an objective basis,  and should lead to better investor understanding.

Let’s hope the industry gets on board; enabling greater understanding of assets during this more challenging period for retail.