Retail

Average retail rents at shopping centre properties owned by listed mall giants Scentre Group and Vicinity Centres will be clipped by 15 to 18% compared to pre-COVID levels as stores close, consumers continue to shift to online shopping and the “new normal” of social distancing measures takes hold, according to analysis from Morgan Stanley.

A discount chemist in Melbourne’s south-east could provide real value for investors, with the property’s location and potential affordable price point already proving a hit. The Direct Chemist Outlet at 1146-1148 North Road in Oakleigh …

Two Sydney shopping centres have been sold off in a pandemic double deal worth more than $91 million.

Mall vacancies have hit a 20-year high as eased coronavirus restrictions and increased foot traffic fail to alleviate the pain felt by many retailers, latest figures from JLL show.

The coronavirus has slugged major regional malls while listed property groups with an exposure to Victoria have also been hit in recent days as lockdowns return.

The lockdown of Melbourne that has left major firms unsure when they will return to their offices and CBD retailers shuttered is hitting listed property developers and investors.

A major Perth supermarket site has been snapped up for $15.5 million, flagging the local market is improving, agents say.

The future of shopping centres is again in the spotlight as the coronavirus pandemic flares in parts of Melbourne, but large shopping centre owners are not putting the crisis to waste.

The redevelopment of the former Larundel Hospital has reached a significant milestone, with the $500 million project entering its 10th year.