Shopping Centre News Australia

The latest issue of SCN magazine is here, featuring our annual Little Guns report, which ranks shopping centres across Australia with a GLA of 20,000m2 up to 50,000m2. This year, 93 Little Gun centres are listed, with only 17 showing a decline in moving annual turnover (MAT). Belmont Forum (WA), owned by Perron Group and managed by JLL took the MAT honours with a huge $481 million and, in our view, will become the first Little Gun to top the half-billion-dollar mark within the next two years. Scentre Group (Owner of Westfield destinations in Aus and NZ) Westfield Innaloo (WA) is a new Top 10 entry with an envious 10% improvement in MAT. Mirvac’s East Village (NSW) retained its No 1 spot on the MAT/m2 ladder, even though it dropped a little. Specialty MAT/m2 this year showed some startling results. Absolutely creaming it, Mount Pleasant Shopping Centre (QLD), owned by Fawkner Property and managed by CBRE recorded a 7% jump in Specialty MAT/m2, hitting the giddying heights of $19,126/m2. These Little Guns continue to show their power; testimony to quality management, marketing and leasing! Premium members can view SCN digital magazines here: https://lnkd.in/g3-Wq77 And access the latest Little Guns data tables here: https://lnkd.in/g3-Wq77 Become a premium member to enjoy full access to SCN magazines, Guns data and exclusive content here: https://lnkd.in/dwtn78Yb

ISPT has sold its 50% stake in Cranbourne Park Shopping Centre to IP Generation for $126.5 million, the largest VIC retail transaction to date in 2024, highlighting the growing appetite for well-positioned metropolitan assets. JLL’s Nick Willis, Sam Hatcher and Stuart Taylor, along with Stonebridge Property Group’s Justin Dowers, Carl Molony and Philip Gartland managed the sale of the dominant sub-regional shopping centre, which occupies a 7.5-hectare site 47km southeast of Melbourne CBD. Cranbourne Park, located in Melbourne’s southeast, underwent a significant transformation since its original development in 1984. The $113 million expansion and revitalisation in 2015 added 12,500m2 of retail space and introduced Target as a major tenant, cementing its position as the largest shopping centre in the total trade area. Cranbourne Park’s secure income profile is underpinned by 92% of the centre being supported by national retailers. The centre is strategically positioned in Melbourne’s southeastern growth corridor, which is estimated to expand by over 55,500 dwellings. Its location, just 1.2km from Cranbourne train station, further enhances its accessibility and appeal. https://lnkd.in/ghnmY72U

Vicinity Centres has exchanged unconditional contracts for the divestment of three non-strategic assets – Elizabeth City Centre (SA), Roselands and Carlingford Court (NSW) – with proceeds totalling $457 million. Vicinity has exchanged unconditional contracts for the divestment of a 50% interest in Elizabeth City Centre in South Australia, to Nikos Property Group. The transaction extends Vicinity’s strong working partnership with Nikos Property Group, with whom Vicinity already co-owns and manages Broadmeadows Central in Victoria and Colonnades in South Australia. Vicinity has also exchanged unconditional contracts for the divestment of Vicinity’s 50% interest in Roselands, as well as Vicinity’s 50% interest in Carlingford Court, both in New South Wales. Vicinity’s CEO and Managing Director, Peter Huddle said: “Today’s announcement demonstrates continued execution of our investment strategy, that is anchored by the curation of a stronger and more resilient retail asset portfolio, whilst preserving our strong balance sheet and credit metrics. “With important developments in progress at Chadstone and Chatswood Chase and following the acquisition of Lakeside Joondalup in Western Australia in August 2024, we set a target of $250 million of asset divestments in FY25. Since then, we have been pleased with the level of interest in, and pricing offered for a number of our retail assets. Consequently, we have exceeded our initial divestment target by more than $200 million. On a standalone basis, the $457 million of proceeds from asset sales will reduce gearing by 230 basis points.” The half shares in Sydney’s Roselands Centre and Carlingford Court for a combined $287 million, was exclusively negotiated off-market by CBRE’s Head of Retail Capital Markets – Pacific, Simon Rooney. The remaining interests in both shopping centres are owned by the Sydney-based JY Group. “The Roselands and Carlingford acquisition demonstrates the continued demand for quality metropolitan, sub-regional and regional assets with a focus on non-discretionary spending. There is particularly strong interest in assets which offer mixed-use development potential and strategic value-add opportunities,” said Rooney. https://lnkd.in/gZUgT6uF

In today’s fast-paced world, where convenience and sustainability are key priorities, ME Group is leading the charge in automated retail innovation. Its mission is simple yet powerful: to offer eco-friendly, self-service solutions that enhance daily life. Whether it’s capturing cherished moments, keeping essentials within easy reach, or making routine tasks more efficient, ME Group delivers with convenience, innovation, and a green mindset. Established in 2012, ME Group Australia has become a household name in automated retail. With more than 300 locations across the country, we’ve sold more than 1.3 million products and over 1 million services, ranging from practical tech accessories to freshly squeezed orange juice. “As we grow, our commitment remains steadfast: to connect people with the services they need while supporting local communities and the planet. ME Group Australia is more than just a vending service – we’re a lifestyle solution that transforms everyday routines into better, smarter experiences.” ME Group caters to a wide range of needs, seamlessly blending convenience with sustainability: 📸 Photo Me: With more than 30,000 photobooths worldwide, we make high-quality, instant photo IDs and fun portraits easily accessible. Whether it’s a passport photo or a spontaneous selfie, our photobooths combine precision and reliability with a touch of fun. 👕 Wash Me: Our 24/7 self-service laundromats feature top-of-the-line 9kg and 20kg washing and 20kg drying machines ideal for individuals and businesses alike. With eco-certified detergents and smart systems, we make doing laundry both simple and environmentally friendly. 🍊 Feed Me Orange: Already a favorited in New South Wales, our fresh orange juice vending machines are expanding into Brisbane and the Gold Coast. With more than 20,000 cups of 100% Australian-grown orange juice served just last month, this service is a testament to our commitment to freshness, health, and supporting local agriculture. 🔋 Charge Me: As Australia’s first premium automated retail service, Charge Me offers tech essentials like power banks, chargers, and earphones through sleek, space-efficient machines. These versatile units fit perfectly in any environment, keeping people connected on the go. Join the movement Discover how ME Group is redefining automated retail with innovative, sustainable, and customer-centric solutions. From laundry services or snapping the perfect passport photo to enjoying fresh juice or charging your devices on the go, our offerings are designed to meet the needs of modern life. Find our more: https://www.me-group.au/ https://lnkd.in/gbby3vy5

A dynamic blend of culinary experiences and retail offerings defines the revitalised Hunter & Gatherer food precinct at Pacific Epping – a flagship redevelopment unveiled last weekend by QIC Real Estate and the Pacific Group of Companies. Located in one of Victoria’s most diverse suburbs, where nearly half the population is born overseas, the redeveloped precinct now hosts 20 distinct fresh food and casual dining operators spanning national franchises, local independents and cult Melbourne brands. The redevelopment showcases QIC and Pacific Group’s continued success in celebrating the multicultural vibrancy of Melbourne’s outer suburbs through thoughtfully designed, market-style precincts. “Our goal was to create a marketplace that truly reflects the cultural tapestry of the community,” says QIC General Manager – Leasing, Luke Young. “Each retailer has been selected to tell a rich, authentic story about Epping’s diverse population.” A next-generation Woolworths Supermarkets, featuring significantly expanded direct-to-boot facilities, anchors the precinct, complemented by an additional 300 car spaces. New Click & Collect facilities have also been installed for the Coles Group supermarket at the centre. Leading Melbourne independent retailer Sacca's Fine Foods, who established one of its earliest stores at the centre, has launched its latest multifaceted concept complete with exclusive indoor-outdoor cafe concept, in-line store and dedicated trade-out area. Queensland-born specialty grocer Hanaromart has also chosen Hunter & Gatherer for its Victorian debut, bringing pan-Asian staples to Pacific Epping alongside the Epping Halal Butcher and international foods grocer, Best Bazaar. The precinct’s vibrant mix of retailers includes national brands Bakers Delight, Breadtop, and Ferguson Plarre's Bakehouse, alongside local independents such as Vietnamese-inspired DC Bakery, family-run Italian takeaway Panino Mio and specialty coffee roaster AU79. The timely unveiling of Hunter & Gatherer was just in time for the festive season and cements Pacific Epping as the dominant destination for local residents and culinary adventurers from the broader trade area. Read more: https://lnkd.in/ggC6WYns #foodhall #freshfood #foodmarket #retaildesign #adaptivereuse

The GPT Group and the Perron Group today announce the establishment of a new retail partnership. GPT will acquire from Perron a 50% interest in two premium Perth retail assets, Cockburn Gateway and Belmont Forum, for approximately $482 million. The two shopping centres offer approximately 119,000m2 of gross lettable area (GLA) and a combined moving annual turnover (MAT) of more than $1 billion. GPT’s Chief Executive Officer and Managing Director, Russell Proutt said, “This is an exciting partnership which further expands our $14 billion portfolio of retail assets with two centres that are top performing in their respective trade areas and extremely well positioned, in catchments with strong population growth and favourable demographics.” Perron Group Chief Executive Officer Adam Irving said the company was delighted to have successfully concluded negotiations over the sale of the half-share stake in both properties. “We identified GPT as an ideal partner for both Cockburn Gateway and Belmont Forum because of its industry leading experience in both retail and mixed-use developments, as this will be crucial to maximising the value of the assets over time. “This transaction also aligns with the evolution of Perron Group’s broader strategic objectives as a permanent endowment to support the work of the Stan Perron Charitable Foundation.” Completion of the transaction is expected in February 2025. https://lnkd.in/gZW29CDQ

Dexus has announced the appointment of Kirrily Lord as Executive General Manager, Retail. Kirrily brings extensive retail experience to the role, most recently serving as Group Director, Customer & Asset Management at Vicinity Centres. With more than 25 years in the property industry, Kirrily has held leadership roles across various functions in the sector, including at Stockland, Westfield, AMP, Macquarie Group and Myer. She was recently profiled in Shopping Centre News Australia as part of a special Women in Property feature. Kirrily will join the Dexus team in May 2025 and will work closely with Dexus retail operations and the Funds team to drive performance across Dexus’s $9 billion retail portfolio. https://lnkd.in/gUZRq-nu

Good news travels fast! Fantastic to see a story on our expansion into NSW and the ACT covered so comprehensively by respected retail industry publication Shopping Centre News Australia. Thanks to editor Leanne Liu for the opportunity to introduce ourselves to a wider audience as we look to bring to southern states the same impeccable service our Queensland clients have enjoyed for six years. #Handler #HandlerProperty #ShoppingCentreNews #commercialproperty Read the story here:

Introducing Sydney’s new community-driven retail and dining destination Meriton Group, Australia’s largest residential developer, unveils Pagewood Retail Precinct – a vibrant new lifestyle destination blending dynamic dining experiences with essential retail. This latest mixed-use development from Meriton is more than just a shopping or dining destination; it’s a community hub where people can connect, indulge, and explore. With a carefully curated mix of renowned eateries and essential services, Meriton’s Pagewood Retail Precinct is set to become a cornerstone of modern urban living in Sydney. “Our Pagewood Precinct was designed with our community at its core,” says Con Kery, Head of Retail and Commercial at Meriton. “Our goal was to create a space that offers exceptional food and dining experiences while truly reflecting and serving the local area’s needs. With Pagewood, we’re building a place where people can come together, enjoy first-class dining experiences, and feel at home in a setting that’s both contemporary and welcoming.” Meriton’s vision for Pagewood’s Retail Precinct goes beyond mere functionality. The open-air, vibrant spaces and inviting outdoor dining areas are crafted to be a sanctuary where people can unwind, shop, and savour some of Sydney’s best culinary offerings. Read more: https://lnkd.in/gr4v7GiB

In the rapidly evolving retail landscape, shopping centres must adopt innovative strategies to remain competitive and profitable. David Fairbairn and Scott Bollard from Empire Property Partners discuss how a well-executed leasing strategy can transform shopping centres into dynamic, high-performing assets by curating the right tenancy mix, structuring lease agreements for success, and leveraging specialist expertise to deliver tailored solutions. “A well-planned leasing strategy focuses on selecting tenants who complement each other and ensures businesses are strategically placed in the right location (RTRL – Right Tenant Right Location) with consideration to the desired centre customer flows and centre precincting. “This fosters an environment where businesses thrive together, increasing customer dwell time and encouraging cross-shopping. This synergy among tenants can lead to higher sales turnover, which in turn can drive greater rental income for the centre. A well-curated tenancy mix also results in faster lease-up times and reduced vacancies, as businesses strategically placed within a vibrant retail hub are more likely to succeed, attracting additional high-quality tenants to the centre.” Read more: https://lnkd.in/gzRWzQXk #shoppingcentre #retailleasing