Retail

The Parkville Store site — in continual business for more than a century — is accordingly a local icon.

A fuel and service centre at the gateway to Torquay has earned a massive yield at a hotly contested portfolio auction.

Retail landlord Aventus has defied the gloom in the shopping centre sector as customers go on a spree in its large format centres to spruce up their homes.

The popular Bunnings chain is set to add an epic new store to its network, and it will be one state’s first three-storey hardware shop.

Local Westfield owner the Scentre Group has plunged to a $3.73bn loss after the coronavirus pandemic ripped through its portfolio, which was written down by $4.25bn amid a shift away from malls.

First-time investors keen to get into the commercial property market are chasing entry-level opportunities in the first big portfolio auctions of the year.

Vicinity Centres, the co-owner of Melbourne’s landmark Chadstone shopping centre, has praised the Victorian government’s handling of the coronavirus pandemic, calling the public health response “world-leading”.

Scentre Group chief executive Peter Allen has outlined a bold vision to evolve the Westfield shopping centre owner into “a house of brands” that could in the future offer education services, more co-working facilities and property development and management services for big retail investors.

A nearly 7ha greenfield site offers buyers the chance to progress the expansion of the Bellarine Peninsula’s biggest shopping centre.