Shopping Centre

Melbourne-based IP Generation has swooped on Mildura Central shopping centre in the regional Victorian town in an $81.1 million play showing the heat in the small shopping centre market.

Sales of shopping centres are picking up, with wealthy local ­investors leading the charge in buying some supermarket-based centres and increasingly larger assets that are recovering from the crisis.

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

The housing market could shift into under-supply in growth corridors around major cities in coming years, according to the country’s largest residential developer, Stockland.

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.

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.