Shopping Centre

Retailer David Jones is moving closer to selling the site of its flagship menswear store in Melbourne’s famed Bourke Street shopping precinct, winning strong interest around the $120 million mark with Newmark Capital one of the groups in the ring.

Shopping centre owners and key national retailing bodies have reached a deal to negotiate behind closed doors about how they will confront the fallout from coronavirus, with unilateral walkouts by tenants threatening to tear up their leases taken off the table.

Shopping centres have been rocked by the six-month freeze on evictions ordered by Scott Morrison on Sunday night.

Australia’s peak shopping centre body has called on landlords to help retailers fight through the COVID-19 pandemic.

Shopping centres have become the major focus of efforts to keep essential services open while also stopping the spread of the coronavirus at a time when their operations are on the brink.

Shopping centre owners are ripping seats out of dining courts as they rapidly refit their malls for an almost overnight shift to food ­delivery.

Developers have placed $60 million price hopes on the first stage of the Armstrong Creek Town Centre.

Shopping mall owners say the collapse of stationery chain kikki.K will not dent profits, despite a summer retail season littered with retail chains going bust.

Neighbourhood shopping cen­tres in Queensland are trading at crisp rates with the returns reflecting the desire of investors for safe assets.