What a year for the shopping centre industry and what a year for Big Guns! We list 93 centres this year, with turnover figures shown on 84 of them; the other nine were either under development during the year or stabilising post-development.
Of the 84 centres ranked, only five showed a negative MAT on last year and two of those were less than 1% down. So, 79 centres recorded an increase in MAT and many were really remarkable.
Last year, we commented that there were three new entries to the $1.0 billion club making a total of nine. We asked the question as to how long it would be before you needed an MAT of $1.0 billion to make the Top 20? We forecast it would be 2028. This year, with a whopping 16% increase on last year, Westfield Parramatta joins the club and also makes the Top 10. Scentre Group had another – Westfield Doncaster, with a 3.5% increase to hit the billion mark. QIC’s Robina Town Centre made it three new entries, with a 3.5% jump on last year.
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