This Month
This $2.5b shopping mall deal could help solve the housing crisis
By selling a stake in one of its Brisbane malls, Westfield owner Scentre Group can create growth options from its 650 hectare land bank. One problem stands out.
Alceon follows wealthy downsizers to Coolangatta with $142m retail buy
The investment manager plans to reposition the 32,000-square-metre shopping centre to match the southern Gold Coast’s changing demographic.
Dexus sues AMP after losing stake in $1.8b Macquarie Centre
The ASX-listed property giant was forced to sell its stake in one of Sydney’s biggest shopping malls. Now it’s calling on an indemnity clause to cover its losses.
Why this $140b industry super fund likes shopping malls so much
By 2030, a growing population will need much more retail space to cater for its shopping needs. Even allowing for online buying, we are running out of malls.
June
Investors in marathon auction for $18m Sydney servo
A 7-Eleven petrol station with a McDonald’s outlet in western Sydney sold for $3 million above reserve after a bidding session that ran for more than an hour.
Fund managers going bush for 8pc returns in property
The purchase of a regional Victorian retail centre comes as fund managers chase yield for their investors. But analysts say they need to know their market.
Live Nation spends $30m to stop tours skipping one city
Northbridge Music Hall promises to fill a gaping hole in the West Australian capital’s live performance ecosystem.
May
This Sydney traffic junction sums up our city housing problem
Edgecliff, just east of Sydney’s CBD, shows the difficulty of councils and state governments trying to balance the demands of residents and growing populations.
How this couple earns $150,000 a year in passive income
Peter and Lesley Boyle invested in residential property to increase their wealth. Then they discovered something better.
Stockland goes shopping for partners in $1.2b malls fund
The malls fund is the latest initiative by Stockland boss Tarun Gupta to bring on board major investors to drive the expansion of Stockland’s portfolio.
Perth’s biggest site in a decade could be $1b base for A-League team
Perth Glory club owner Ross Pelligra is talking to a city council about using the site for a planned $1 billion training facility and commercial development.
Construction pins its turnaround hopes on defence spending boost
The slump across construction – with some key exceptions – will stay until the two largest states resume spending.
April
ISPT to plug a gap with Brisbane’s first Intercontinental hotel
The super fund-backed developer and fund manager is pairing with operator IHG for the first part of its 1ha transformation of central Brisbane.
Spotlight’s new Anaconda will teach shoppers to fish
The privately owned large-format retail group will also offer tinnies moored to a life-sized jetty and a cold room for Queenslanders to try on puffer jackets.
Dexus forced to sell $830m stake in Macquarie Centre to super giants
The Supreme Court of NSW has rejected a last-minute bid from the ASX-listed landlord to stave off the transaction, having found it was required to sell.
Blackstone decides time is right to exit big Sydney mall
Blackstone is looking to check out of Sydney’s Top Ryde City, one of the last malls left in the $3 billion portfolio it once earmarked for a float or mega trade sale.
March
Sydney Fish Market posts losses but stays afloat
Concerns about the market’s solvency flared after it failed to lodge its 2024 accounts on time, and design complexities and costs rose at the new facility.
The $3m CBD winery opening in a building where AA meets
A heritage-listed former warehouse on Flinders Lane is home for the new Melbourne Winery. It makes for an unusual tenancy mix.
Property giant GPT seizes on Lendlease’s retail retreat
A Lendlease-run shopping centre fund, once one of the biggest in the country, will now be in charge of running just two malls.
Luxury slump hits shop openings across Europe’s fanciest streets
The slowdown in European luxury retail contrasts with a pickup in Australia’s two largest cities.