Retail

Sydney CBD retailers are paying a growing premium for space in Australia’s hottest shopping market, with prime rents ballooning by more than a quarter.

A private investor has paid $3.8 million for a Queensland vehicle showroom leased to a Jeep and Chrysler dealership.

A Melbourne commercial agent says overpricing and local government red tape are continuing to hurt Richmond’s Bridge Rd retail strip.

Dexus Property Group has found buyers for two major commercial properties, including Melbourne’s famous Southgate complex on the Yarra River.

The Bondi building that once housed iconic beachside destination Bates Milk Bar is on the block, 65 years after it served its first malted milkshakes.

Sentinel Property Group is continuing to cash in on the demand for neighbourhood shopping centres, selling a pair of centres for a combined $31.6 million.

Listed heavyweight the Scentre Group is striking up an alliance with superannuation fund-backed Cbus Property as it moves to acquire Sydney’s landmark David Jones store. This article originally appeared on theaustralian.com.au/property.

Investors came hard for a KFC outlet in suburban Melbourne but many sat on their hands at a quiet Burgess Rawson investment auction on Wednesday.

Foreign investors have continued pouring money into Australian commercial property, pushing the market to record highs.