What retail weakness?

By Robert Harley

Frasers Property is pursuing an ambitious retail strategy at a time when the sector is undergoing a major structural shift. Peri Macdonald reckons the time is right for super-neighbourhood centres to make their mark.

  • 01

    The problem

    Global changes in retail behaviour demand new approaches from shopping centre developers.

  • 02

    The insight

    Food, entertainment, services and experiences are the antidote to threats such as online shopping.

  • 03

    The plan

    We’re investing $700 million in developing new-style ‘super-neighbourhood’ centres.

Frasers Property Australia is developing approximately $700 million of new shopping centres in Australia at a time when the shopping centre industry faces unprecedented cyclical and structural challenges.

It seems counter-intuitive. Consumer spending is weak and retailers are wary. In the malls, the releasing spread – the gap between the old rent and the newly negotiated rent – is going backwards.

But Frasers Property Australia is confident. Its main new projects, like Burwood Brickworks in Melbourne and Ed.Square in Sydney, will be the centrepieces of large mixed-use housing projects that are expected to deliver new consumers, well understood and well matched to their new retailers.

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