AFTER a busy year, JLL have been named the leading retail investments advisory firm in Australia, brokering more than half of transaction volumes in 2022.
According to data published by MSCI Real Capital Analytics, JLL advised on the most retail transactions, brokering $4 billion worth across 84 properties.
Retail transaction volumes totalled $7.1 billion in 2022 which while in line with the 10-year average is significantly down on 2021 numbers of $13.5 billion.
“2022 started strong with a flow over of activity from 2021, however the shift in debt markets resulted in a slowdown of transactions in Q2 and Q3,” said senior director of retail investments Australia, Nick Willis. We experienced a significant resurgence of activity in Q4 and completed over $600 million of transactions in December alone.
“This Q4 confidence has carried on in 2023, however available investment supply remains an issue for investors, with only two assets currently on the market in Australia over $100 million,” said Willis.
Some of JLL’s major retail transactions in 2022 include Casuarina Square ($418 million) which was Australia’s largest retail transaction of the year. Fort Recapitalisation ($350 million) was the country’s largest recapitalisation in 2022. Caneland Central ($280 million) represented the only regional shopping centre to trade in 2022. Crossroads Homemaker Centre ($282 million) was the largest Large Format Retail transaction in 2022 in Aus.
Head of Retail Investments Sam Hatcher is pleased with the recognition of JLL’s huge year.
“We are honoured to be recognised by RCA as the top retail investments firm in Australia,” Hatcher said.
“The Australian retail industry faced unprecedented challenges in 2020, however retail assets remained firmly on the radar of investors. Between 2020 and 2023, our team transacted more than 173 retail assets nationally.”
“Globally we are seeing a shift in sentiment back towards the retail sector, driven by relative instability in the other asset classes. Global capital is recognising the fundamental robust performance of Australian retail, particularly over the past two years, and we are now seeing the re-emergence of major institutional capital and super funds looking at Australian assets given their land rich nature and future mixed-use development potential,” said Hatcher.
