While many of us still struggle in the cost-of-living crisis,the big shopping centre landlords are optimistic they’re on the cusp of a retail recovery.
City retailers are popping the champagne corks as workers return to the office,international tourists and students fly in and shoppers come back for weekend visits.
The country’s second-largest retail landlord,Vicinity Centres,has had a decline in sales across its shopping malls as Australians cut back on discretionary spending.
Broken promises to revive the 36-year-old,“run-down,half-empty” Morley Galleria into the community hub it once was has angered locals,their mayor and their MP.
One of Australia’s largest mall owners significantly downgraded its security management at 57 major shopping centres around the country in the month before the deadly Westfield Bondi Junction attack.
Australians might not have the typical picturesque image of celebrating Christmas with snow falling on chimney tops,chestnuts roasting on a fireplace and Santa Claus sipping hot cocoa,but when it comes to the Holiday season - we know how to throw a great party.
Sydney’s beloved QVB is an iconic part of the city’s festive season – it’s the heart of Christmas every year. And the centrepiece of it all? The magnificently decorated tree soars up three floors.
Is this market slump just another part of the regular cycle of buying and selling real estate,or has COVID permanently changed the landscape forever?
Don’t suffer from Unwanted Gift Syndrome this year,The Galeries is here to help!
The Australian sharemarket climbed on the back of healthcare companies after a set of strong results from some of its biggest players and softer wage data.
Retail landlord Vicinity Centres has stepped up its asset sale program with the divestment of a half share of the just-opened Broadmeadows Central mall in Melbourne to Nikos Property Group for $134.5 million,with the proceeds going to repay debt.