Westfield Marion (pictured), the biggest shopping centre in Adelaide, was sold off to Singaporean company SPH REIT, who bought a 50 per cent share for $670 million
WHAT is the real reason for Australia’s Retail Apocalypse … Foreign Investors!
A 50 per cent share of the Central Park centre (pictured) in Sydney was also sold to a Singaporean-based company, SC Capital, for $174.5 million
A very good report that says it all … as it is, and we seem to be sleepwalking into a future …
–like those who have invested all in one market now are feeling the consequences e.g.
Australian Universities are so dependent on Overseas Students in particular 40% from China!
… Where a majority of Australian retail market places will be foreign-owned
SO how will local authorities be able to enforce Codes, Standards and social outcomes?
LOOK deeper … the ramifications are a serious threat to the expectations we have for the built environment let alone what consequences lay ahead for the natural environment when the power of giant players have … when exercising their market-place supremacy over our diminished Sovereignty!
P.S. Oh yes we can already hear the push-back … they will use the same old tactics not too dissimilar to the Tobacco Lobby or Climate Deniers …
… it’s our narrow thinking, Xenophobia, Nimbyism … the usual B.S….
NOW READ THIS REPORT!
HOW Foreign Businesses now own HALF of AUSTRALIA’s Malls driving out Local Traders … Retail Apocalypse …
WHAT does this mean?
AND WHY is this Happening?
READ MORE THEN SHARE … Tell Others …
Harris Scarfe, (pictured), founded in 1849, took consumers by surprise when it entered administration in December and is now about to close at least 21 stores
Fashion chain Bardot (pictured, its store in Melbourne) is closing 58 stores across Australia