Retail sales activity is on the rise despite tracking well below historical levels, according to research by CB Richard Ellis (CBRE).
Overall, Queensland has accounted for 35.5 per cent of sales over $5 million in the year to date.
Victoria and Western Australia ran second and third at 26.9 per cent and 15.3 per cent respectively. However, the states’ performance may have been skewed by a number of large transactions, CBRE said. This included GPT’s $206.3 million acquisition of a share of Melbourne’s Highpoint shopping centre and the recent $115 million sale of David Jones in Perth to Starhill Global REIT.