Australian retail markets listed as most expensive in the world
CBRE’s quarterly survey which tracks the most expensive global retail markets has listed Sydney (above), Melbourne and Brisbane in the top 10 for Q1 2013. Ranked fifth, Sydney recorded prime retail rates at…
Westfield tenants receive 5% rent reduction due to slow retail conditions
Specialty tenants in Australian Westfield malls signing new leases have scored an average 5.1% rent reduction than the expired rents, according to the Westfield Group’s March quarter update. 380 leasing deals were completed…
Coles enters into $532m joint venture with ISPT
Coles has entered into a joint venture with Industry Super Property Trust (ISPT), which will acquire a 75 per cent interest in an initial portfolio of 19 Coles-owned shopping centres. The initial portfolio…
Multi-million dollar Costco development approved for North Lakes
Approval for multi-million dollar Costco development in the Moreton Bay region of North Lakes has been granted by the Newman Government this week. Deputy Premier and Minister for State Development, Infrastructure and Planning,…
Sydney’s iconic Kings Cross Centre sold to an international investor
The Kings Cross Centre located beneath Sydney’s iconic Coca-Cola sign has been sold to an offshore investor for $23.81 million. CBRE and City Commercial, on behalf of the Challenger Premier Hybrid Property Fund,…
Sustainable and fashion-forward: $300m Highpoint Shopping Centre expansion complete
Highpoint Shopping Centre in Melbourne’s West has officially opened its new $300 million retail expansion to the public, making it one of Australia’s largest shopping centres. The mall’s co-owners – GPT Wholesale Shopping…
The outlook for shopping centre investments in 2013: JLL
Jones Lang LaSalle has released their annual Shopping Centre Investment Review and Outlook 2013 which has revealed retail investment volumes hit record highs in 2012. And it looks like 2013 will continue the…
Hong Kong retail property continues to rise
Hong Kong is a sophisticated, dynamic and high growth retail market, with a well-established network of shopping centres and retail districts. By Asian standards it is quite transparent, however, per capita provision of…
Westfield signs £1 billion Croydon Town Centre Joint Venture
Australian retail giant Westfield has continued their global expansion plans by announcing plans to enter into a £1B joint venture to redevelop the retail centre of Croydon in south London. As part of the…
Honeycombes’ Central to inject $1B into North Queensland
A massive urban renewal project driving the revitalisation of the Townsville CBD will pour more than $1 billion and thousands of jobs into North Queensland’s economy, a new report reveals. The Economic Activity…
