Shopping Centre

Shopping centre giant Vicinity Centres has flagged yet another expansion of Melbourne’s massive Chadstone Shopping Centre, that it owns with billionaire John Gandel, with another tower and even residential apartments potentially in the mix.

Online discount retailer Catch has launched its second dedicated bricks and mortar store, cutting the ribbon on a pop-up shop inside a Target outlet at a Melbourne shopping centre.

The shopping centre industry has been rocked by the largest deal of the year, with a half stake in the $1.34bn Westfield Marion in Adelai­de selling to Singapore-listed SPH REIT, in a transaction showing an 8% discount to the mall’s December value.

Hotel and pub barons the De Angelis family have purchased western Sydney’s Raby Tavern and Shopping Centre for over $30 million.

A Melbourne property syndicate has bought Corio Central shopping centre in a $101 million deal.

Sydney shopping centres are holding their own against the tide of falling values and sluggish trading conditions with activist funds manager Fortius buying Cammeray Square from property trust Stockland for $39.05 million.

Retail behemoth Amazon has stepped up its offering in Western Australia with a new fulfilment centre unveiled in Perth that will boost its last mile delivery capacity, putting traditional shopping under more pressure.

Retail landlord Vicinity Centres is promoting itself as a luxury fightback story even though retail sales are yet to get a bounce from tax stimulus, interest cuts and a lift in house prices.

Shopping centre legend Sir Frank Lowy has called time on the Australian mall empire he co-founded six decades ago after selling an $815 million stake in the listed Scentre Group on Wednesday night.