Property analysts are taking diverging views on the health of the $135 billion listed real estate investment trust sector,given the unfamiliar climate of rising interest rates and inflation.
Westfield shopping centres have come back to life as consumers flock back to spend on fashion,jewellery,technology and appliances and the ubiquitous leisure gear.
Australia’s big retail landlords are sanguine about the impact of rising inflation despite the likelihood prices will rise on many goods.
The property veteran has led a strong recovery at the group’s Westfield malls after two years of COVID-related uncertainty.
Scentre,the country’s largest retail landlord,says tenants expect a busy festive season.
A wave of recent transactions and a shopping frenzy as malls reopen augurs well for Australia’s large shopping centre landlords,whose shares are still trading on the stock exchange at pandemic-induced discounts.
Red carpets,live band performances and giveaways will greet a rush of expectant shoppers as Melbourne’s malls and department stores fling open their doors on Friday.
Commercial real estate investors have roared back into the shopping centre market,snapping up $4.52 billion worth of assets in anticipation the pandemic-hit sector will rise again.
Retailers and landlords are on a collision course over who is responsible for managing the proof of vaccination process.
Retail mall landlord Scentre $670 million,47-storey office tower project above Westfield Parramatta has been approved by the NSW government.
Scentre Group chief executive Peter Allen described government mandated rent relief as “bad policy”,saying the government,rather than landlords,should support retail tenants.