Shopping Centre

Shopping centre giant Vicinity Centres will offload a string of local malls it owns across Australia in one of the most significant retail deals of 2018.

St Ives Shopping Village in ­Sydney has won the title of Australia’s highest revenue neighbourhood shopping centre, with annual sales of $245.26 million. 

One of the most significant suburban shopping centres in Melbourne’s northern suburbs is on the market, with Campbellfield Plaza’s owners selling their 100% interest in the property.

Burwood One shopping centre’s sale is imminent, with an eye-watering figure close to $200 million tipped to seal the deal.

Interests associated with the ­Karedis family and Brett Blundy have swooped on major properties in the $500 million Altis Property Partners portfolio, making purchases that boost their dominant positions in the large format retail industry.

A major shopping precinct in western Sydney has changed hands for almost $25 million. 

The Future Fund is looking to ­reduce its exposure to Perth’s strongly performing retail market through the offer of its stake in the $1.2 billion Lakeside Joondalup Shopping City.

Western Australia’s first Direct Factory Outlet will open in four weeks.

Mall owner Scentre Group said it was on target to increase funds from operations by around 4% this fiscal year, after reporting an improved half-year net profit driven by valuation gains on its property portfolio.