Shopping Centre

Former premiership Hawthorn player and ex-AFL Commissioner Chris Langford is selling the Brandon Park Shopping Centre in Wheelers Hill.

The property heavyweight has been selling down its WA assets at a time when smaller players want an exposure to the resources-rich state.

Active shopping centre buyers HMC Capital and Revelop have snapped up two assets amid strong investor appetite for neighbourhood malls.

The project will break the long drought of major new shopping centres in the city.

The property funds house is keeping up its retail property trading, finalising the sale of a Mackay shopping centre for about $43m.

The recovery of Australia’s top shopping centres is starting to resonate with big offshore capital players on the back of the rising population, which is supporting the lift in underlying asset performance.

Shopping centres in large cities are again in heavy demand and private buyers have are making the running as institutions sell.

Construction has begun on a new town centre in Sydney’s north west that aims to rejuvenate the area and provide valuable new housing and retail space.

This year is set to be better for commercial real estate than the quiet 2023 but vendors may need to cut back expectations.