Shopping Centre Benchmarks 2025 34th Edition
The 2025 Urbis Shopping Centre Benchmarks are released, and the results make it clear that Australia’s shopping centre industry is globally unique, actively managed and thriving in a changing retail world.
The 2025 Urbis Shopping Centre Benchmarks demonstrate that:
- MAT growth is outpacing rental growth, providing further scope for rental clawback.
- This, together with low vacancy rates, suggests that positive leasing spreads should continue.
- Owners are managing assets constructively, with higher leasing churn than normal due to strategic remixing and tenant demand.
- Centres of all types continue to evolve:
‒ There is continuing evidence of growth in the role of Food in all centre types – both for in-centre consumption and for home
‒ Apparel is consolidating and growing in super-regional centres, driven by both specialties and mini majors, but contracting elsewhere
‒ The size of Apparel stores is increasing, highlighting range expansion and the showroom value of stores in an omni-channel world
‒ There are categories, like activewear, that are clearly expanding and winning
‒ There is a broadening of the entertainment offer. - Regional centres, together with CBD centres, are the standout performers this year.
- For the smaller centres, the recent trend of mixing out of Apparel into Services continues.
The Urbis Shopping Centre Benchmarks provide essential KPIs for owners, managers, retailers, service providers, and investors interested in asset optimisation, value creation and business performance in shopping centres and retail precincts. It provides guidance, busts myths, and highlights the changes that are so important to Australia’s most dynamic industry sector.
About Shopping Centre Benchmarks
The Urbis Shopping Centre Benchmarks are now in their 34th year and are a trusted source of data insights for owners, developers, tenants and investors. These comprehensive benchmarks include data from over 520 shopping centres, covering an impressive 14 million sqm of gross leasable area (GLA), over 46,000 tenants, and a staggering $117 billion in aggregated moving annual turnover (MAT), representing approximately 26% of the total Australian retail market.
Our interactive dashboard has the details you need to better understand and benchmark your shopping centres’ performance against multiple metrics.
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