Shopping Centre

Diversified property trust GPT plunged to a $213.1m loss last year after taking heavy writedowns on its malls.

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.

Property developer Con Makris has continued his exodus from the Adelaide property market, selling two prominent shopping centres for $110 million.

The property sector is proving a profitable ground for potential listings of new companies on the ASX, with Newmark Capital the latest to weigh up a move as it readies a potential listing of its $300 million hardware trust.

Retailers hope strong Christmas trading will push them further along the road to recovery after being hit hard by the coronavirus pandemic.

The coronavirus pandemic is likely to accelerate the transformation of more shopping centres into mixed-use precincts offering everything from hotels and offices to medical clinics.

Conditions are positive for commercial property, but some sectors can expect a bumpy ride in the future. Here are eight predictions for 2021.

Commercial property developers and landlords are stepping up activity as confidence flows into the sector in the wake of advances on a coronavirus vaccine.