Retail

The Sydney CBD’s hospitality sector is set to be boosted by the return of workers to the office, as restauranteurs eye off new ventures.

A 2,579smq retail site in Brisbane’s southwest has sold for more than $5 million in a competitive off-market sale, which has seen an interstate investor secure the parcel.

Mirvac have taken the extraordinary and difficult decision to permanently close the Toombul Shopping Centre following irreparable damage from the recent floods in Brisbane.

Mornington Village Shopping Centre has transacted via an off-market deal through Stonebridge Property Group, representing the first Victorian neighbourhood shopping centre transaction for 2022.

Goodman Group are reported to be spending $200m on the Alexandria Homemaker Centre in an acquisition off Arkadia Group.

ISPT has acquired Caloundra Village, an established neighbourhood centre 75km north of Brisbane CBD via the ISPT Retail Australia Property Trust (IRAPT) for $30.5m.

Leading retail property developer Tipalea Partners has lodged a development application with Devonport City Council for a new $40 million 7,500 square metre retail centre set to be delivered in 2024.

Demand for freestanding commercial property investments remains at peak levels, with investors securing over $75 million worth of assets as part of Stonebridge Property Group’s inaugural National Portfolio.

HomeCo have sold their Knoxfield large format retail centre in Victoria for $45m continuing the strong demand for real estate assets.

Riverlakes Village, located in Cornubia south of Brisbane, has sold for $17.4million, adding further to strong transactional activity for convenience retail centres.

Melbourne investor Nick Andrianakos is paying Perron Group over $135 million for a half stake of the Colonnades Shopping Centre in Adelaides south west.

Fawkner Property Group has agreed terms with Waypoint to acquire a national portfolio of 29 fuel and convenience outlets for its next Essential Services unlisted REIT.

Bunnings Warehouse Epsom is set to the test the market for a product that has long been an investor favourite based on recession-proof non-discretionary-spend tenancy profiles and long leases to blue chip tenants.

Justin Dowers said, “The sale of Coles Lalor shows again that investors are seeing more value to freestanding supermarkets than just a pure income investment. Metropolitan Melbourne freestanding supermarkets sit on some of the most strategic and valuable land parcels in Melbourne, which is a factor that we are now seeing consistently priced in.”

Queensland’s best performing super-regional shopping centres is set to spark a fierce contest in excess of $600million.