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ANZ Capital Markets Investment Review 2021 | Retail

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2020 was a disruptive and challenging year for retailers and landlords alike. A total of $4.26 billion in retail assets transacted in Australia in 2020. This is down 39 per cent year on year and represents the lowest total transaction value for the retail investment market since 2011. Despite this, certain sub-sectors were largely unaffected – seeing significant demand and transactional activity. Neighbourhood and large format centres were favoured by investors for their stable income streams and accounted for over half of the assets sold in 2020.

For further retail insights from 2020 and a complete transaction list, access the report now.


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ANZ Capital Markets Investment Review 2021 | Retail

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Lachlan MacGillivray

Managing Director, Asia Pacific | Retail Capital Markets


Specialising in the sale of major shopping centres, Lachlan has managed the sale of over $15 billion worth of shopping centres, working with a wide range of clients including institutional, international and private investors.

In 2021, Lachlan’s team transacted the largest retail deal in Australian history, with the sale of Pacific Fair and Macquarie Centre for $2.2 billion. This deal represents the largest retail transaction globally since 2018. He also secured the second largest agency retail transaction in Australia at $1.00 billion in the sale of Pacific Werribee and Pacific Epping.

In 2019, Lachlan's team transacted 83% of all retail assets greater than $100 million, equalling a total of $3.58 billion in sales. These included:
• The sale of Westfield Marion, SA for $670 million (50% interest);
• The sale of Westfield Burwood, NSW for $575 million (50% interest);
• The sale of Garden City Booragoon, WA for $575 million (50% interest);

In the last 5 years, Lachlan has sold 8 out of the 9 Australian regional shopping centres that were presented to market, and has successfully marketed over 100 different assets. Lachlan has achieved the largest individual transaction in Australian history with the sale of Indooroopilly Shopping Centre, QLD for $810 million (50% interest). 

With an in-depth understanding of shopping centre performance, Lachlan can provide you with expert advice on the sale and acquisition of all your retail investment:

• Capital Partnering / Joint Ventures / Portfolio Transactions
• Asset Marketing and campaign strategy, implementation and execution
• Shopping centre acquisition and disposal
• Sale negotiation and transaction
• Strategic asset positioning and repositioning to maximise asset performance
• Buy side investment advisory

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