Region. Asian interest in shopping centres

Scott Gray-Speneer, executive MD, of CBRE, said several local and offshore Asian investors actively competed for the Cecil Hills Shopping Village, which sold for $10.8 million. “We are experiencing particularly high demand from high-net-worth individuals and private Asian syndicates for sub $30 million assets located in Western Sydney,” he said. The next test of the market would be CBRE’s coming sale of the Cabramatta City Centre, according to The Sydney Morning Herald. CBRE’s Harry Bui said Asian private investors had traditionally dominated the Cabramatta market, with the John Street retail strip a “particularly sought-after destination for property investors”.