Neighbourhood Retail Centres in High Demand
Neighbourhood retail centres are likely to continue to see sharp competition from buyers, according to JLL Australia’s annual retail investment report.
JLL believes there are a range of institutional and private capital sources converging on the neighbourhood sector, with limited availability of high-quality centres, particularly in metropolitan locations.
According to JLL, the retail market saw record investment in 2021, seeing almost three times the amount during the first year of lockdown in 2020 and 50% more than in 2017.
Last year $13.2 billion was invested, up from $4.7 billion in 2020 and $8.8 billion in 2017.