Melbourne Central mall has roared back to life as shoppers flock to its Monopoly Dreams store,students meet to hang out and commuters come for lunch.
Limited space and strong demand will see a significant push to develop high-rise industrial warehouses in major cities across the next three years,major investors have said.
Once the scaffolding has been cleared and the new developments are opened,the foreshore from the Harbour Bridge to the Anzac Bridge is set to add billions of dollars of revenue to the local economy.
Around Australia more and more office buildings have large vacancies,but Australia’s landlords aren’t budging on pricing or their plans to build even more skyscrapers.
The chief executive of diversified giant GPT,Bob Johnston has joined a number of his peers in announcing his retirement from the group after seven years at the helm.
Industrial property owners will likely be the standout performers in the reporting season which kicks off in earnest next week for the Australian real estate investment trust sector.
Industrial deals are being driven by tenants who are stockpiling items in the lead-up to the busy Christmas shopping frenzy to avoid disruption from the ongoing supply chain issues,according to leading deal makers.
A major shift in the type of office towers being built for future workers is underway,as developers and tenants opt for carbon neutral buildings.
Diversified property giant GPT has issued a higher earnings guidance to investors based on the booming industrial and logistics sector and a turnaround in its shopping centres that had been hard hit by the global pandemic.
A focus on improving building efficiency and rolling out renewables is shielding Australia’s largest landlords from soaring energy prices.
Monopoly Dreams,Lego,and table tennis bar Paddle Battle are just some entertainment-focused retailers taking advantage of prime vacant spaces in central Melbourne.