08/09/2026
The evolution of large format retail from pure-play homemaker centres into highly diversified, one-stop shops for busy consumers is capturing the attention of global investors as transaction volumes defy economic headwinds.
In Australia, transaction volumes reached a record AU$2.06 billion in 2025. Momentum has continued through the first half of 2026 with $650.1 million in deals.
The risk that investors have historically perceived around large format retail is all but diminishing as the sector matures into a core institutional asset class. Record low vacancy, a resilient tenant mix and accelerating rental growth are drawing an increasing depth of capital, with the yield spread to regional shopping centres continuing to compress.
The likes of LaSalle, PGIM, QIC, Charter Hall and MLC Super have all acquired assets across the sector in recent years, reinforcing its transition to a core-plus, institutional-grade allocation.
Follow our posts over the next few days as we spotlight large format retail, covering vacancy, rents, yields, supply and tenant quality – and why LFR deserves a serious look in any retail-weighted portfolio.
For a copy of JLL’s latest in-depth report on the sector, email [email protected]