Operating profit in Mirvac’s retail division was $85 million.
The group’s net profit after tax rose by 2.2 per cent.
The property group saw profit of $728.5 million for the 6 months to 30 June.
Wallsend Shopping Centre was purchased by Haben Property Group.
Despite soft retail trade conditions, Victorian retail investment activity is on track to achieve record highs.
Vicinity have achieved net valuation growth for its overall portfolio of $147 million.
Savills latest Q2 retail report charts growth in sector.
The increased demand has occurred amidst disappointing retail sales and online competition.
Located 25 kilometers from the Adelaide CBD in the Mt Lofty Ranges, the 98 sqm store fulfills Jorja & Co’s expansion needs.
New retailers attracted to redeveloping shopping hub.