Shopping Centre

Billionaire John Gandel and co-owners of the listed Vicinity Centres are readying to again expand Melbourne’s famed Chadstone shopping centre as confidence at the luxury end of the market lifts.

Myer boss John King has had a win with his landlord that could fill the rest of the retail sector with enough confidence to play hardball over rental agreements.

A ninth major shopping centre has hit the market in Geelong region in two years as grocery giant Woolworth cashed in on the sale of two local assets.

Funds manager AMP Capital is set to become the latest company to defy the gloom around the retail sector as it eyes the purchase of Adelaide’s Rundle Place for close to $250 million.

Australia’s most prominent capital markets broker, Simon Rooney, has left Jones Lang LaSalle after a 25-year stint and is now considering offers, including from rival groups.

New owners will have the opportunity to reposition one of the city’s busiest shopping centres ahead of the biggest residential expansion of Geelong’s northern suburbs.

The pile of shopping centres hitting the market is rising with the GPT Group joining Vicinity Centres and Challenger in putting an asset to market this week, with a property in Sydney’s Leichhardt on the block for about $150 million.

Luxury jewellery brands Tiffany & Co and Kailis Jewellery are among high-end retailers taking up space in Charter Hall’s Raine Square development in Perth.

Under-pressure department store Myer could seek to hand back space at 15 shopping centres over the next four years, according an analysis by investment bank UBS.