JLL

The recovery of Australia’s top shopping centres is starting to resonate with big offshore capital players on the back of the rising population, which is supporting the lift in underlying asset performance.

Just 13 freehold buildings have sold in Melbourne city in the last 12 months compared to pre-pandemic levels which saw nearly double that amount. So what’s caused the change?

The gateway city is being weighed down by sublease space, even amid a flight-to-quality.

Neighbourhood shopping centres are still trading at a brisk pace with big players like Woolworths and Charter Hall cashing in on the strong market.

One of the largest commercial sites in Manly, just 180m from its famous beach, has come to market aimed at investors wanting income now and opportunity later.

Veteran publican Peter Braithwaite has snapped up Brisbane’s Red Lion Hotel for just shy of $7 million, and is planning to upgrade the long popular southside establishment.

Boston-based investment manager AEW Capital Management has bolstered its Australian holdings with the $143 million purchase of a Pyrmont office building in one of the largest plays in Sydney’s fringe market this year. The group …