The Australian retail real estate market staged a remarkable comeback in 2025, with total transaction volumes reaching record highs of approximately $13.5 billion. Notably, retail emerged as the highest-traded commercial sub-sector nationally, underscoring the sector’s resilience and positioning it for continued growth into 2026, according to early insights from leading property advisor JLL.The year saw 138 deals completed, a solid performance compared to prior years, with volumes climbing steadily from $6.3 billion in 2023 to $8.7 billion in 2024. Regional shopping centres emerged as a standout performer, achieving a record-breaking $6.9 billion in transaction volumes across 12 deals – a 75% increase over the previous high of $3.9 billion set in 2021. This regional strength highlights shifting investor focus toward high-quality assets in underserved markets, amid limited supply and robust demand fundamentals.Nick Willis, Executive Director of Australia & New Zealandat JLL, commented on the broader global context: “2025 marked a significant shift in global sentiment for the retail sector, with large-scale deals returning in force after a hiatus. Notable transactions in Australia included Erina Fair for $895 million (Fawkner), Top Ryde for $525 million (MA Financial & Kepple REIT) and Woodgrove for $440 million (Assembly Funds Management). These deals reflect renewed optimism and capital deployment across key markets, setting a positive tone for Australia.”Delving into the Australian market’s unique drivers, Willis added: “The fundamentals of the retail sector are firmly supporting strong forecast growth, particularly in Australia where limited floor space supply meets a rapidly growing population. This dynamic is playing out and building with retail leading all core sectors on a 3-year total return basis.”Looking ahead,Sam Hatcher, Head of Retail Investments Australia, highlighted the evolving nature of transactions in Australia: “Larger transactions provide clear evidence of confidence in the sector, yet access to these prime opportunities remains tightly held by established players. The QIC/Australian Retirement Trust’s acquisition of a 19.9% stake in Westfield Sydney for $864 million epitomises this trend, showcasing strategic partial interest as a pathway to premium assets. We anticipate more such partial transactions to dominate the thematics for 2026, allowing broader participation.”JLL’s analysis points to a maturing market where strategic partnerships and partial stakes will play a key role in unlocking value. With global and local trends aligning, the Australian retail sector is poised for an active year ahead.Previous ArticleNext Article
The year saw 138 deals completed, a solid performance compared to prior years, with volumes climbing steadily from $6.3 billion in 2023 to $8.7 billion in 2024. Regional shopping centres emerged as a standout performer, achieving a record-breaking $6.9 billion in transaction volumes across 12 deals – a 75% increase over the previous high of $3.9 billion set in 2021. This regional strength highlights shifting investor focus toward high-quality assets in underserved markets, amid limited supply and robust demand fundamentals.Nick Willis, Executive Director of Australia & New Zealandat JLL, commented on the broader global context: “2025 marked a significant shift in global sentiment for the retail sector, with large-scale deals returning in force after a hiatus. Notable transactions in Australia included Erina Fair for $895 million (Fawkner), Top Ryde for $525 million (MA Financial & Kepple REIT) and Woodgrove for $440 million (Assembly Funds Management). These deals reflect renewed optimism and capital deployment across key markets, setting a positive tone for Australia.”Delving into the Australian market’s unique drivers, Willis added: “The fundamentals of the retail sector are firmly supporting strong forecast growth, particularly in Australia where limited floor space supply meets a rapidly growing population. This dynamic is playing out and building with retail leading all core sectors on a 3-year total return basis.”Looking ahead,Sam Hatcher, Head of Retail Investments Australia, highlighted the evolving nature of transactions in Australia: “Larger transactions provide clear evidence of confidence in the sector, yet access to these prime opportunities remains tightly held by established players. The QIC/Australian Retirement Trust’s acquisition of a 19.9% stake in Westfield Sydney for $864 million epitomises this trend, showcasing strategic partial interest as a pathway to premium assets. We anticipate more such partial transactions to dominate the thematics for 2026, allowing broader participation.”JLL’s analysis points to a maturing market where strategic partnerships and partial stakes will play a key role in unlocking value. With global and local trends aligning, the Australian retail sector is poised for an active year ahead.Previous ArticleNext Article
Nick Willis, Executive Director of Australia & New Zealandat JLL, commented on the broader global context: “2025 marked a significant shift in global sentiment for the retail sector, with large-scale deals returning in force after a hiatus. Notable transactions in Australia included Erina Fair for $895 million (Fawkner), Top Ryde for $525 million (MA Financial & Kepple REIT) and Woodgrove for $440 million (Assembly Funds Management). These deals reflect renewed optimism and capital deployment across key markets, setting a positive tone for Australia.”Delving into the Australian market’s unique drivers, Willis added: “The fundamentals of the retail sector are firmly supporting strong forecast growth, particularly in Australia where limited floor space supply meets a rapidly growing population. This dynamic is playing out and building with retail leading all core sectors on a 3-year total return basis.”Looking ahead,Sam Hatcher, Head of Retail Investments Australia, highlighted the evolving nature of transactions in Australia: “Larger transactions provide clear evidence of confidence in the sector, yet access to these prime opportunities remains tightly held by established players. The QIC/Australian Retirement Trust’s acquisition of a 19.9% stake in Westfield Sydney for $864 million epitomises this trend, showcasing strategic partial interest as a pathway to premium assets. We anticipate more such partial transactions to dominate the thematics for 2026, allowing broader participation.”JLL’s analysis points to a maturing market where strategic partnerships and partial stakes will play a key role in unlocking value. With global and local trends aligning, the Australian retail sector is poised for an active year ahead.Previous ArticleNext Article
Delving into the Australian market’s unique drivers, Willis added: “The fundamentals of the retail sector are firmly supporting strong forecast growth, particularly in Australia where limited floor space supply meets a rapidly growing population. This dynamic is playing out and building with retail leading all core sectors on a 3-year total return basis.”Looking ahead,Sam Hatcher, Head of Retail Investments Australia, highlighted the evolving nature of transactions in Australia: “Larger transactions provide clear evidence of confidence in the sector, yet access to these prime opportunities remains tightly held by established players. The QIC/Australian Retirement Trust’s acquisition of a 19.9% stake in Westfield Sydney for $864 million epitomises this trend, showcasing strategic partial interest as a pathway to premium assets. We anticipate more such partial transactions to dominate the thematics for 2026, allowing broader participation.”JLL’s analysis points to a maturing market where strategic partnerships and partial stakes will play a key role in unlocking value. With global and local trends aligning, the Australian retail sector is poised for an active year ahead.Previous ArticleNext Article
Looking ahead,Sam Hatcher, Head of Retail Investments Australia, highlighted the evolving nature of transactions in Australia: “Larger transactions provide clear evidence of confidence in the sector, yet access to these prime opportunities remains tightly held by established players. The QIC/Australian Retirement Trust’s acquisition of a 19.9% stake in Westfield Sydney for $864 million epitomises this trend, showcasing strategic partial interest as a pathway to premium assets. We anticipate more such partial transactions to dominate the thematics for 2026, allowing broader participation.”JLL’s analysis points to a maturing market where strategic partnerships and partial stakes will play a key role in unlocking value. With global and local trends aligning, the Australian retail sector is poised for an active year ahead.Previous ArticleNext Article
JLL’s analysis points to a maturing market where strategic partnerships and partial stakes will play a key role in unlocking value. With global and local trends aligning, the Australian retail sector is poised for an active year ahead.Previous ArticleNext Article
