A number of global retailers are entering or expanding in Australia in 2020. Retailers as varied as Alexander McQueen, Tory Burch and Yves Saint Laurent – even Taco Bell – are expected to transform the local shopping experience.

The company anticipates the transformation of some redundant retail space into other uses, such as childcare centres, education and entertainment centres, medical centres and residential developments.

CBRE forecasts that retail yields will remain relatively flat, with super-prime CBD location and regional shopping centre returns hovering at or below 5 per cent for the next two years. Prime large-format returns are expected to remain at around 6.7 per cent until at least 2022.

Large format retailers are tipped to show growth in rentals due to recovery in the residential sector, CBRE says, although it places pressure on mid-range clothing retailers and department stores will put downward pressure on rents.

Los Angeles-based CBRE is the largest commercial real estate services company in the world.

Woolworths plans Brisbane DC

Woolworths has taken another step in its ongoing technological revamp, as it gets ready to open a $184 million state-of the-art distribution centre in the Brisbane suburb of Heathwood.

Subject to approval from Brisbane City Council, the 42,000sqm temperature-controlled facility will house frozen and long-life chilled products for distribution to around 260 stores.

At full capacity, more than two million cartons will move through the centre each week from more than 400 suppliers.

Woolworths’ chief supply chain officer, Paul Graham, said the facility will be key to supporting future growth in Queensland.

“We’re pleased to be investing in our Queensland supply chain network for the benefit of our customers,” Graham said.

“This development will help us deliver fresher food to customers, take trucks off Brisbane’s roads, and create new career opportunities for hundreds of Queenslanders.”

Woolworths’ meat supplier Hilton Meats will also have a production facility on the site, which will help reduce truck movements.

Woolworths will sign an initial 15-year lease on the site.