Shopping Centre

The Lowy family has severed yet another link with the Westfield shopping centre empire that family patriarch Sir Frank Lowy co-founded in 1960, as his son Steven, the last member of the family to remain on the board of local owner Scentre Group, flagged his intention to step down.

Melbourne’s commercial property market is batting off the gloom about a decline in Asian investment with a run of hefty retail and office deals.

A charming shopping precinct in the heart of a Sydney town has hit the market. 

Private equity giant Blackstone is readying to carve off the first element of its $3 billion retail property empire in Australia after winning the asset management arm of investment bank Moelis as the suitor for Figtree Grove in a deal worth more than $200 million.

Australians’ move from suburban houses into apartment blocks will drive demand for “destination” malls that offer entertainment and spaces for social interaction as well as shopping, according to retail landlord Vicinity Centres.

The economic outlook, impact of fuel prices on consumer spending and the threat of online retailing remain among the top concerns for shopping centre managers, JLL has found.

Sydney’s historic Queen Victoria Building will be reinvented as an international and luxury shopping destination as its owners, the listed Vicinity Centres and Singapore’s sovereign wealth fund, tap into rising Asian tourism and the shift to premium goods.

Global fashion giants Uniqlo and H&M have opened their newest doors at Melbourne’s The Glen, as the shopping centre lifts the veil on the latest stage of its $460 million redevelopment. Uniqlo and H&M were …

Drysdale’s main shopping centre has hit the market as investors in major retail assets warm to the region’s strong returns and population growth.