Some of Melbourne’s wealthiest families are expected to take part in a more than $175m “recession proof” shopping centre shopping spree this autumn
Stonebridge property Group are handling the sale and national partner Justin Dowers said while buyers for the properties were still diverse, wealthy individuals were “resonating towards the sector”.
He added that shopping centres have been performing particularly well in the past year, with occupancy in most at close to 100 per cent. Cranbourne West Shopping Centre and the land surrounding it located at 665 Hall Rd could make more than $45m after being listed for sale this autumn. Mr Hawthorne said anchor tenants like Wesfarmers were proving attractive to high-net-worth investors and family offices.