Shopping Centre

Retirement specialist Aveo Group has exited a major commercial property holding, selling the Gasworks Plaza complex in Newstead, Brisbane, to AMP Capital for $248.4 million.

A series of Queensland shopping centres have changed hands at very sharp yields, reflecting the healthy demand for centres expected to stare down Amazon and continue to produce steady returns.

Commercial property behaved mostly as expected in 2017.

Most Australians are still buying Christmas presents from bricks-and-mortar shopping centres des­pite the much-discussed trend to online commerce and local launch of Amazon, a new survey shows. 

Billionaire retailer Gerry Harvey believes Unibail-Rodamco’s ­acquisition of Westfield Corporation will have little impact on the tenants renting its 35 US shopping malls, but others see the deal as a fait accomplias the internet continues to erode retail.

International property tycoon Frank Lowy has agreed to sell his business empire to ­European shopping centre giant ­Unibail-Rodamco for almost $33 billion in Australia’s biggest takeover, raising doubts over the future of the bricks-and-mortar mall.

AMP Capital’s wholesale Shopping Centre Fund and Diversified Property Fund have teamed up to strike the year’s largest retail property purchase, with the pair ­buying a half stake in the Indooroopilly Shopping Centre in Brisbane for $800 million, in a deal that will help reset retail property values across Australia.

Woolworths is looking to capitalise on investor demand for new centres by preparing for sale a six-strong portfolio worth about $200 million.

Todd Mullins and his wife, Julie, started going to a shopping centre 15 minutes from their Palm Beach Gardens home in Florida about a year ago — after they joined a gym inside it. They …