Business
Retail property stocks caught in lockdown – The Australian Financial Review
Not until late November will all retail be allowed to open again in Melbourne in a blow to major shopping mall owners.
Retail landlords Vicinity Centres and GPT Group, which have a larger component of their portfolio in Victoria, will be on the hook longer for rent relief provisions because of the state’s extended lockdown.
A JPMorgan analysis of retail property stocks that are more exposed to Victoria noted that Vicinity, which co-owns the country’s largest mall, Chadstone, with property magnate John Gandel, has 52 per cent of its portfolio in Victoria. GPT, a fund manager with a diversified portfolio, has 38 …
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