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flag Australia’s Erina Fair mall sold for $895M, marking a major retail deal amid shifting market dynamics.

flag Erina Fair, Australia’s largest shopping centre on the Central Coast, has been sold for a record $895 million to Fawkner Property, a private retail fund led by Chris Garnaut. flag The deal, brokered by CBRE and JLL, marks one of the largest full-interest mall acquisitions in 15 years and signals Lendlease’s exit from its Australian retail portfolio to focus on international growth. flag The sale reduces the Australian Prime Property Fund Retail’s asset base to $2.4 billion, prompting a credit rating downgrade. flag Despite strong national retail transaction volumes—$12.7 billion in 2025, including $6.9 billion in regional deals—consumer confidence in retail fell 36% year-on-year, driven by inflation and cost-of-living pressures. flag Retail remains a key regional employer, supporting about 16,200 jobs and contributing 6% to exports.

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