Amazon

Amazon is being offered hundreds of millions of dollars, the right to decide how to spend taxpayers’ money and the chance to name a city after itself as US regions compete for the retail giant’s new headquarters. 

Most Australians are still buying Christmas presents from bricks-and-mortar shopping centres des­pite the much-discussed trend to online commerce and local launch of Amazon, a new survey shows. 

The mood across the property ­industry is cautiously upbeat heading into the new year, with the office sector still looking brighter than retail despite this week’s blockbuster Westfield deal.

Listed mall landlord Vicinity Centres is tackling the threat of Amazon by remixing centres away from mid-level women’s ­apparel to eateries and also ­expects department stores in its malls to shrink in the future. 

The term “new paradigm” makes me nervous.

Industrial property has emerged as the “golden child” of the commercial market, with industrial-heavy suburbs topping a list of the most in-demand suburbs for private investors, owner-occupiers and tenants.

It could be a very “Amazon” Christmas this year with the US retail giant tipped to crash the local retail sector’s holiday plans by launching its Australian site within the next 60 days, in a move that could prove disastrous for domestic retailers as they rely on Christmas for the bulk of their annual profit. This article originally appeared on theaustralian.com.au/property.

While the residential sector is starting to slow, commercial property is moving along its own path.

Charter Hall’s listed shopping centre trust is backing its mall ­locations and lease structures with major tenants as a defence against the looming entry of Amazon, warning that the online commerce giant will face headwinds in Australia. This article originally appeared on theaustralian.com.au/property.