Specialty tenants are still prepared to commit to long-term leases with fixed annual increases, despite growing calls from retailers for more flexible rental agreements, said SCA Property Group chief executive officer Anthony Mellowes.

"Most of our new leases are five-year terms with fixed annual increases," Mr Mellowes told The Australian Financial Review as the convenience mall owner reported lower full-year profits and cut back its distribution because of the impact of COVID-19 on its earnings and property valuations.