The number of people visiting Main Street Complex increased by one per cent in 2021 compared to 2020, despite the closure of its “anchor” store, Debenhams, for the final half of the year.

This figure was detailed as part of the mall’s review of 2021, released by the publicly listed company that operates the facilities – Main Street Complex plc.

In terms of COVID-related performance, this footfall figure was more promising. Comparing the period from the start of the pandemic in 2020 to the same eight-month period in 2021, footfall in 2021 increased by 13 per cent.

Providing a broader report, the mall reflected that its performance “showed continued resilience,” in spite of the COVID pandemic.

Other than the Debenhams franchise which was wound up due to the collapse of the international brand, and its catering operation, Main Street Complex reported that all other tenants continued to operate throughout the year, except during the period of forced closure in compliance with directives from the public health authorities.

The outlet previously occupied by the Debenhams franchisee has now been fully replaced by two new tenants – Lindex, leasing 562 sqm on the ground and first floor, and I M Home, leasing the remaining 360 sqm on level two.

On these new stores, Main Street Complex said it is looking forward to its opening in the coming months to help further consolidate its offering to its existing mix of patrons.

Lindex, a “renowned” Swedish brand, will be retailing fashion for women and children while I M Home will bring a new category of home decor and accessories to the complex, the mall explained.

Additionally, a new catering operator has taken over the company’s catering premises, and the rest of the complex is fully leased apart from one area occupying around 70 sqm.

Main Street Complex also explained that it continued to support its tenants throughout the year, considering the forced closure period and restriction imposed on various operators, by waiving all charges during periods when tenants were not permitted to operate or by reducing rents where certain tenants were subjected to significant restrictions on their respective operations.

However, these discounts were significantly reduced compared to 2020, and as such, the mall stated that it recorded a “substantial” increase in rental revenue, as incomes gradually approach pre-COVID levels.

As such, the mall’s cash flow and financial position are said to remain healthy.

Looking to the future, Main Street Complex said it plans to give more importance to environmental initiatives, encouraging tenants to participate in this drive.

In addition, following the installation of solar panels in 2018, during 2021 the company further invested in a new energy-efficient cooling system, which resulted in a reduction of 28 per cent in units of energy consumed in 2021 when compared to 2020.

The board of directors said it remains reasonably confident that in view of current indicators related to the COVID pandemic, 2022 will see a continued diminution of the pandemic’s effects on operations, with further improvements expected in the Company’s financial performance.