Sydney, 30 April 2026 – JLL (NYSE: JLL) has been ranked the number one broker for shopping centre transactions across Australia and New Zealand, according to MSCI Real Capital Analytics, advising on a record $3.522 billion in shopping centre investment sales in 2025 .
JLL’s shopping centre advisory performance was complemented in the broader retail investment sector, ranked the number two adviser across Australia and New Zealand, reinforcing the strength and depth of the firm’s retail capital markets platform.
The result caps a landmark year for the shopping centre sector, with major institutional investors re-entering the market amid improving fundamentals, resilient income profiles and renewed confidence in dominant retail assets.
JLL, based on MSCI Real Capital Analytics data, shows Australian shopping centre transaction volumes reached $13.5 billion in 2025, up 56 per cent year-on-year and 87 per cent above the 10-year average. The resurgence was led by major “Big Gun” shopping centres, assets with more than 50,000sqm GLA, which accounted for $6.9 billion in transactions across 12 deals, representing more than half of all shopping centre investment volumes in 2025.
JLL advised on a broad range of institutional-grade shopping centre transactions across major CBD assets, sub-regional centres and large-format retail, further cementing the firm’s position as the leading shopping centre investment adviser in the region.
Nick Willis Executive Director, JLL Australia and New Zealand said 2025 marked a turning point for the shopping centre investment market.
“2025 was a pivotal year for the sector, marking the largest year on record for shopping centre investment and the return of major institutional capital to the market.
“We are continuing to see major institutional investors look to reweight back towards the sector amid its continuing robust performance and attractive fundamentals.”
Sam Hatcher, Head of Retail Investments at JLL Australia and New Zealand said investor demand remained strong despite limited supply.
“Our team has been pivotal across a broad range of transactions, providing strategic advice and capital advantage to our clients, and bringing global reach to investors.
“The investor momentum is pivoting further towards shopping centres; however, in the ANZ region it is being met with limited available investment supply. This is leading to increased formation of new partnerships, a trend we expect to continue through 2026.”
Notable transactions in 2025 included:
Erina Fair, NSW – $895 million – the largest shopping centre sold in Australia on a 100 per cent interest basis.
Top Ryde City, NSW – $525 million – marking Keppel REIT’s first-ever retail acquisition globally.
Woodgrove Shopping Centre, VIC – $440 million – the largest 100 per cent interest in a regional shopping centre to transact in Victoria in more than a decade.
Manukau Supa Centa, Auckland, New Zealand – $161 million – the largest shopping centre sold in New Zealand on a 100 per cent interest basis.
