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Retail 2021 Research and Forecast Report H2

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The resilience of the retail industry is expected to continue to be prominent as retailer trading and consumer movement restrictions have started to lift.

Many of the looming risks on the retail sector in 2020, including increasing vacancy rates, the competitive online sector, and slowing in discretionary spending, have become less of a concern over this year. This has been supported by strong consumer confidence, strong bounce back in consumer spending levels, and a pent-up excitement to return to a post-COVID norm.

This report will look more in-depth at the occupancy and investment trends that have become prevalent over the second half of 2021. More specifically, at the increased numbers of new centres neighbourhood centres nationally and the investor confidence in larger retail assets.

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Retail 2021 Research and Forecast Report H2

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Related Experts

Joanne Henderson

National Director | Research

Sydney

Joanne has over 15 years of experience working within property research and specialising in property data.  Having previously managed a real estate data product with over 70 subscribers, Joanne has a strong track record of maintaining client relationships as well as delivering quality real estate data and insights.

Joanne leads and manages the Colliers Edge product which is the Colliers premium research data product for clients. Her role also includes maintaining and improving data management systems that the Research and wider business teams use to store and utilise our valuable datasets.

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Michael Bate

Head of Retail

Sydney

My professional knowhow stems from an extensive career in retail property development, project leasing, site acquisition and disposals and property management.

I joined Colliers International after holding the position of National Business Manager for Stockland Commercial for 9 years. During this time I was responsible for the acquisition and disposal of just over $750M worth of Retail and Commercial assets.

Prior to my Capital Transactions role in Commercial Property, I was the Regional General Manager Leasing for the Stockland Shopping Centre portfolio.

Prior to Stockland, I was the National Leasing Manager for Lend Lease Retail here in Australia. I worked on some of Australia’s leading Retail projects including, Casuarina Darwin, Melbourne Central, Sunshine Plaza and Smithfield in QLD and Woden in the ACT. I was the Lend Lease Asset Manager for the Kiwi Income Fund and worked on several of their retail projects in New Zealand.

Prior to Lend Lease, I was a National Director with Jones Lang Wootton in both WA and NSW and ran the National Project Leasing team for again some of Australia’s best retail assets and Portfolios.

I also have a lengthy career in the media working for John Fairfax and Sons in TV and Radio for many years.

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Lachlan MacGillivray

Head of Retail Investment Services | Australia

Sydney

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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Adrianna Kazzi

Senior Analyst, Retail | Research

Sydney

Adrianna has three years experience in property research and real esate advisory. Adrianna is currently the Senior Analyst in the Colliers Research Team and specialises in Retail Property. She supports the Retail Leasing, Capital Markets Investment Services and Real Estate Management Services teams in her role. Adrianna was previously a  Database Analyst which has allowed her to excel in the maintenance and improvement of data management systems. 

Prior to joining Colliers, Adrianna completed her Bachelor of Property Economics at the University of Technology, Sydney. 

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