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Retail 2021 Research and Forecast Report H1

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We are pleased to share with you our latest Retail Research & Forecast Report H1 2021. The report provides an overview on the recent performance of the Retail sector in Australia. 

Some key points include:
The current performance and outlook for CBD Retail
The impact of COVID-19 on consumer behaviours and the way it has fast tracked the requirement for landlords to explore new ways to evolve their centres and attract customers
The rapid rise in online retail demand for food retailers creating an increasing demand for dark stores, especially among the supermarket category 
The improvement in spending in the retail sector, which in turn has increased demand for retail assets

We hope you enjoy reading our report. If you require any property assistance, contact one of our experts today. 


Retail 2021 Research and Forecast Report H1

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Related Experts

Michael Bate

Head of Retail


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

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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Andrew Johnston

Head of Retail | Valuation & Advisory Services


Andrew has been employed in the property industry at a leadership level for more than 25 years. Andrew has a broad range of experience in the valuation industry encompassing all of the major asset classes, specialising in the valuation of Super-Regional, Regional, Sub-Regional and Neighbourhood Shopping Centres across Australia.

As Head of Retail, Andrew sets the strategy and direction of the national team under Colliers Valuation & Advisory Services.

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Lyn Gray

Head of Retail Management | Real Estate Management Services


Lyn joined Colliers International in June 2015 as State Product Director - Real Estate Management Services.

In 2019, Lyn was promoted to a National Director - Real Estate Management Services, after achieving outstanding overall results in the REMS SA business. 

During this time, Lyn had  been responsible for the enhancement of the service platform delivered by the South Australia Real Estate Management Services Team. In 2016, 2017, 2018 and in 2020 Lyn was award Leader of the Year for the South Australian business. In 2019, Lyn was also sucessful in achiving the National award of Outstanding Professional. 

In 2021, Lyn was promoted  to Head of Retail for Real Estate Management Services - Australia and relocated to Sydney to work with the greater business.  

Prior to joining Colliers International, Lyn has worked for Knight Frank, Cushman Wakefield, a boutique agency and one of South Australia's largest private property owners as General Manager and Director.

During Lyn's time at these companies, she has achieved:-

Completing one of Adelaide's biggest retail developments;

Establishing a risk analysis of the business and turned around several non -performing assets to obtain positive outcomes;

Successfully implemented a three (3) year plan on staffing, policies and culture which saw the company grow from a small to a medium size business.

The ongoing achievements and respect that Lyn has in the industry speaks for itself. The passion, commitment and knowledge of all facets of property is one to be discussed and involved in.

Lyns overall knowledge of all facets of commerical property in all asset classes is well regarded.

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Joanne Henderson

National Director | Research


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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