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.

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.