Australian retail assets are currently embracing the surge in foreign investment, with $3.5b of offshore capital contributing to the sector. This figure has increased substantially when compared to last year.

Chadstone Shopping Mall in Melbourne recorded a 16% increase in annual sales compared to pre-pandemic levels. Additionally, Chadstone is among the top 10 performing retail malls, with Westfield centres holding 7 of those spaces.

In 2023, the retail sector registered a record-breaking $6.12b transaction volume. This figure made the retail industry the most traded commercial property asset class for the first time in two decades. December of 2023 saw Melbourne-based Fawkner Property’s acquisition of Cairns Central and Settlement City for a combined $492.4m, Haben’s purchase of Stockland Townsville $238.5m, and Vicinity acquiring Dianella Plaza for $76.25m.

This re-interest in the retail sector is continuing into 2024. Reports have indicated ISPT is engaged in due diligence talks to sell the Eastgate Bondi Junction shopping centre. This sustained interest from investors underscores the resilience and attractiveness of Australian retail assets.

Renewed interest from investors has placed the Australian retail landscape in a position of steady growth. There has been a surge in foreign capital and renewed investor interest, creating opportunities for the Australian retail sector.

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