International retailers swamping shopping centers in Australia



CBRE states in its third quarter Retail MarketView that plans to create in excess of one million square meters of shopping center space over the next three-year
The creation will include major extensions of Chadstone Shopping Center in Melbourne and Pacific Fair on the Gold Coast, as well as a 29800m² expansion of Westfield North Lakes in Brisbane and a 35000m² expansion of Macquarie Center in Sydney.

Retail Rental Forecast - Australia



The head of research at CBRE, Stephen McNabb, said the effect of foreign retailers, some of whom are pushing out domestic retailers fr om top locations, should not be underestimated.

He said that foreign retailers often require larger than average formats for their stores and they demanding prime positions within the shopping centers.  This has prompted landlords to seek ways in which they can redevelop and expand their buildings to accommodate this segment of the market.

The Australian retail market is experiencing growth as it is being viewed as a natural add-on to the shift to Asia, because European and US markets are viewed as mature.

This can be clearly seen in the transformation of the former Macquarie Center in Sydney, which opened for business on October 16 and is believed to be the first suburban center within the country to house all the large international fashion brands, such as GAP, Forever 21, Uniglo, Zara and H&M.

Other success stories include H&M’s report of achieving $21m in turnover during its first eight weeks of trading after the opening of its first Melbourne store.

The main effect of this demand can be seen at super-prime level, wh ere CBRE states an increase of 3.6% in rents this year and Sydney, in particular, experiencing a massive 12.5%.


More about shopping malls in Australia



TODAY, China:
Jewelry looks like salt crystals and designs that recreate salt mines - the ZNC mall's creators honored the local symbol of wealth in every detail.
TODAY, Hong Kong:
Under the new restrictions, all cinemas and entertainment centers will be closed within two weeks.
TODAY, South Korea:
The renowned coffee shop chain announced opening the first of its kind facility with an inclusive design in Seoul, South Korea.
YESTERDAY, USA:
Families will be able to participate in a 10-minute interactive video tour of Cane Institute at the North Pole for only $20.
YESTERDAY, USA:
Retail Ecommerce Ventures (REV), which owns Pier 1, Dressbarn, and Modell's Sporting Goods, will buy the bankrupt Stein Mart chain of department stores.
YESTERDAY, United Kingdom:
Iceland supermarket chain is ready to support distribution by its logistics chain for frozen food.
Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us