David Di Pilla’s Home Consortium has struck a deal to merge its own HomeCo Daily Needs REIT with the Brett Blundy-backed Aventus into a $3.2 billion shopping centre owner, a move nicely timed with the reopening bounce expected across the retail sector.

Both listed property trusts have fared relatively well through the disruption, with Aventus’ suburban homemaker hubs spared the worst of the lockdowns while the HomeCo-run fund, which floated less than a year ago, focused on essential shopping.