,Singapore

Retail property investment sales jump five-fold to $0.6b in Q3

The surge was bolstered by two mega deals worth over $100m a piece.

Retail property investment sales jumped five-fold in the third quarter, registering around $0.6b worth of deals.

The surge was bolstered by two mega deals worth over $100m a piece.

These deals were Lendlease Global Commercial REIT's acquisition of 31.8% stake in Jem mall for $337m and the sale of Le Quest Mall to Firmus Capital  for #139m. 

Cushman & Wakefield said suburban malls like Le Quest which can offer delivery and click-and-collect services are "still on the radar of investors."

"Amid the challenging retail scene due to the pandemic and e-commerce boom, investors can keep a lookout for short-term repricing opportunities in retail assets especially those in the CBD (central business district)," Shaun Poh, Executive Director and Head of Capital Markets at Cushman & Wakefield, said.
 

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