Over $10bn in retail property transactions for the year
The majority of transactions occurred in regional locations, equaling $3.5 billion, while $1.77 billion was spent on neighbourhood properties.
In total, 192 sales of over $5 million took place over the period.
The largest recent individual sale was Pacific Werribee, Victoria at $598 million, at 109,997 sqm, in late June.
However, in dollars per sqm, Chatswood Chase is deemed the largest at $18,011 per sqm, or $562.3 million total.
Highpoint in Victoria is not far behind at $17,751 per sqm; or $660 million total.
The report found 78 property development projects underway over the period, equalling over 1 million sqm of development area.
The majority of property developments, 37.4 per cent, occurred in New South Wales, while Queensland accounted for just over a quarter, 25.3 per cent, with Western Australia at 23.5 per cent.
Retail trade trends & drivers
In total, the retail trade grew by 2.8 per cent to $105.17bn, with the largest growth by retail sector in Hardware & Garden which grew by 4.3 per cent between May 2017 – 2018.
Food is the second largest growth (3.8 per cent), followed by Supermarkets (3.5 per cent) and Clothing & Footwear (3 per cent).
Department stores fell by 0.4 per cent; the only sector unable to grow during this period.
New South Wales accounted for 32.2 per cent of quarterly retail trade (to May 18), with Victoria reaching 25.7 per cent and Queensland hitting 19.6 per cent.
Access exclusive analysis, locked news and reports with Inside Retail Weekly. Subscribe today and get our premium print publication delivered to your door every week.
Inside Retail Polls
Steven Lowy, who previously served as the co-chief executive of Westfield, has announced his intention to retire fr… https://t.co/C77O6cqvJ52 hours ago
Chairman Garry Hounsell pens letter to shareholders ahead of upcoming AGM, addressing Premier Investments drive to… https://t.co/LhE9X292qg4 hours ago