Retail

Scentre Group, owner of the local Westfield mall empire, has drawn fire from two major proxy houses that have recommended against its remuneration report at its ­annual general meeting to be held on Thursday.

Sydney’s commercial market is also heating up with one property investor paying an incredible price to secure an Adidas outlet store in Lidcombe.

A waterfront pub on the Sunshine Coast and a Brisbane childcare centre each fetched more than $10 million as eager investors snapped up commercial assets with long leases worth in excess of $133 million in portfolio auctions.

A wealthy Sydney family spent more than $15 million on two service stations as high-net-worth investors filled up commercial property leased to blue-chip tenants in a $94.3 million portfolio auction.

Pubs, hardware stores, a burger restaurant and a TAB are expected to be hotly contested by investors in a $135 million portfolio auction.

With the Australian economy showing remarkable resilience post-COVID, the so-called looming ‘March cliff’ may turn out to be more of a ‘step’, with mixed impacts across the commercial property sector.

A fund is selling its half stake in Sydney’s QVB, The Galeries and the Strand Arcade shopping centres for more than $550 million.

Once seen as the poorer, working-class cousin to Melbourne, Geelong is now a serious player in the commercial real estate space, with a “very real” gentrification changing the face of the city.

A Newcomb shopping centre has sold for the second time in three years in an off-market deal.