Retail

Melbourne’s stage four lockdowns will have a sweeping impact on the commercial property market, as the city begins another six weeks under more severe restrictions.

A property development and investment company co-run by a Hawthorn premiership player has been revealed as the buyer of David Jones’ Bourke Street Mall menswear store.

More residential development is on the cards for South Geelong as buyers eye the possibilities of a mixed use site now on the market.

The most exciting, potential-packed commercial leasing opportunity in Hobart right now would have to be the FitzGerald’s Building in Collins Street.

South African department store chain Woolworths Holdings has sold the David Jones menswear store on Melbourne’s famed Bourke Street mall to funds manager Newmarket Capital in a $121m deal that could bolster the beaten-down sector.

A trio of Sydney terraces that are home to a popular massage parlour are still waiting on their happy ending, with the properties still on the market despite being the most-viewed commercial listing in Australia.

The pain in the retail sector has been put on stark display with Chadstone co-owner Vicinity Centres slashing the value of its entire portfolio by nearly $2bn as the coronavirus pandemic discourages shoppers from visiting shopping centres.

Leasing opportunities at new shopping hubs continue to be a shining light in the hard-hit retail sector, with future cafe space outside a new Coles supermarket the latest to win over potential tenants.

Arnold Vitocco received a big scare a week ago, when the Narellan Town Centre shopping centre he owns with billionaire Tony Perich and their respective families was named as one of Sydney’s COVID-19 “hot spots”.