Well, the second half of the year is only a matter of weeks away and is there any sign of bottoming out? Lloyds TSB is now talking of the credit crunch rumbling on for at least two years.

CSC saw its regional malls lose 4.5 per cent of their value over the three months to 31 March 2008 as prime shopping centre yields moved out a quarter of a point.

And if that's happened to prime stock then you can safely bet that secondary properties have fared rather worse.

One seasoned agent told me - and he's not a 'glass half empty' kind of chap - "I've been in the business for 30 years and this is the worst market I've seen."

It's in times like this that management once again comes to the fore: the quality of operation and marketing can make or break a shopping centre. And that's why we at Shopping Centre have been so delighted by the quality of entrants to this year's SCEPTRE Awards. It's clear that there are dedicated people doing exceptional work out there in the malls.

The judges had a very difficult task whittling down a record entry into a shortlist of three for each category, and the winners will be announced at the Dorchester on June 18 this year, after our mystery shoppers have visited the malls to validate the entries.

But it's not too late for you to influence the outcome in three categories: the Retailer of the Year, Developer of the Year and Managing Agent of the Year awards are based on a vote of Shopping Centre readers, so why not visit http://www.sceptre-awards.co.uk right now to register your votes?

And while you're there why not book a table for the dinner? It promises to be a memorable night and we could all do with a little cheering up, couldn't we?

Graham Parker, Editor

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