Suburban strata retail outlets losing ground: Herron Todd White

Suburban strata retail outlets losing ground: Herron Todd White
Suburban strata retail outlets losing ground: Herron Todd White

Suburban strata retail shops in secondary locations are losing customers to ground floor retail outlets in high density residential developments, according to Herron Todd White.

Herron Todd White's September Month in Review said these ground floor outlets, mandatory by some council planning controls, has been a concern for some time around areas such as Waterloo, Alexandria and Wolli Creek and is likely to remain as residential development continues to boom.

Retail outlets in western Sydney suburbs Kellyville and Clempton Park are making waves outside the CBD.

"The Ponds in Kellyville opened earlier this year and includes a Woolworths and specialty shops. The centre is 7,000 square metres and caters to the new residential developments in the area. Clemton Park is set to open next year and will be anchored by Coles. These areas are strong residential locations with a need for retail space," the report noted.

"CBD and prime retail locations are going strong with several recent transactions at sub 5% yields.

"The anticipation of changes to the CBD such as the light rail and George Street closure have investors looking to the CBD for returns and capital growth. Attention is now focused on the CBD and what opportunities exist for new retail development and capitalising on existing properties."

Michael Crawford

Michael Crawford

Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.

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Commercial Sales

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