Population growth is driving continued retail development across Melbourne and Geelong with about 250,000 square metres of space expected to be completed in the next two years.
Savills Australia’s Victorian research chief Glenn Lampard said much of the development involved expanding existing large shopping centres rather than new projects.
"The majority is through expansion of existing centres. A lot of these centres have been performing quite well through this period. You rarely walk around a regional shopping centre and see empty sites," ampard said.
(Source: The Sydney Morning Herald Online )