Retail

The private Milligan Group has won initial approval for plans to develop a near $2bn skyscraper in the heart of the Sydney CBD.

Five neighbourhood shopping centres have been sold for a combined $180 million, as convenience-based and non-discretionary assets remain highly sought-after by investors.

New data has found the estimated insurance loss from the flooding in parts of NSW and Queensland earlier this year has reached more than $4 billion. For many business owners, affording the insurance premiums has been a major hurdle in the rebuilding process.

First-time investors in commercial property are showing their interest in 16 separate retail assets being sold by Fitzroys in a portfolio auction of the estate of the late Harry Oviss.

An Asian investor linked to Shayher is looking to buy the Homeworld Helensvale complex on Queensland’s Gold Coast for close to $300m in one of the biggest deals in the hot large format sector.

Deals are taking longer. Some are falling over. Buyers are chipping. It’s the same story almost right across commercial real estate.

The rapidly rising cost of living is leading consumers to rethink their spending habits and adding to the already challenging conditions many retailers are operating in.

A private Gold Coast family has fended off competition from national investors to snare a major large format retail property at Burleigh Heads for $72.5m.

Developers and academics are divided over plans to increase Sydney’s cultural space.