Fawkner Property has settled its $895 million acquisition of New South Wales’ Erina Fair shopping centre, a deal that represents the largest ever 100 per cent trade of an Australian shopping centre.
Located north of Sydney, Erina Fair is the largest shopping centre on the Central Coast, spanning approximately 114,598sqm and boasting a moving annual turnover of $817 million*.
Anchored by major retailers including Myer, Kmart, Big W, Woolworths, Coles and Aldi, the centre delivers a strong, major-tenant-weighted average lease expiry (Wale) of seven years per area.
The property is further underpinned by strong performance depth across retail categories and an expansive trade area of more than 250,000 residents.
The acquisition elevates Fawkner’s total retail purchases to $3.5 billion since 2021, reinforcing the group’s strategic focus on high-quality retail shopping centre investments.
CBRE’s Simon Rooney, in conjunction with co-agents Nick Willis and Sam Hatcher of JLL, negotiated the transaction on behalf of Lendlease’s APPF Retail and its co-owner.
“The rare opportunity to secure a 100 per cent interest in a major regional centre generated strong offshore engagement, alongside substantial demand from domestic managers and capital groups, including syndicators, unlisted institutions and several Reits – eventuating in a highly competitive process and market-leading result,” Rooney said.
The acquisition marks the largest private syndication deal in history across any asset class, said Willis.
“Demand globally for retail is resurging, initially led by strong performance out of the US with increased global transactions… Domestically, we are experiencing an increased weight of capital from offshore investors competing with local syndication and institutional funds,” he added.
- *Source: SCN – Big Guns 2025
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