Shopping Centre

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.

The fight for the future of French company Unibail-Rodamco-Westfield, which took over the international Westfield shopping centre empire in a $32bn deal almost three years ago, is coming to a head at a crucial vote this week.

Local Westfield owner the Scentre Group is reaping more rent from its malls as it recovers from the coronavirus crisis but is still in dispute with about 11% of its retailers over concessions they are seeking to cover the worst of the pandemic.

The major Australian retailer behind well-known fashion brands including Noni B, Katies and Rivers will close 250 stores amid ongoing rental disputes with landlords throughout the coronavirus pandemic.

roperty developer Mirvac Group has become the latest residential player to report strong home sales on the back of government stimulus, as the company also makes a push into the build-to-rent sector.

Solomon Lew has added some teeth to his years of threats of walking away from bricks-and-mortar stores unless rents are lowered to reflect the new realities of shopping behaviour, with his Premier Investments booking $8.7m in charges to prepare for the possible closure of 350 stores across Australia and New Zealand.