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Latest News
April 2019

Retail Property Sector in Profile

The Lester Group believe it is important to build a diverse portfolio of properties to protect and grow value in all economic environments. This means buying well and taking advantage of opportunities when they arise. Retail properties should be an important part of all diversified property investment portfolios, particularly given retail sales has shown reliable growth every year for 3 decades.

According to tradingeconomics.com, Retail Sales in Australia increased 2.90% in February of 2019 over the same month in the previous year.  This is solid growth, particularly given Australia’s current economic environment. Australia’s Retail Sales growth has averaged 5.76% from 1983 until 2019 (36 years), reaching an all time high of 12.70% in October of 1985 and a record low of 1.90% in October of 2017. Although well off it’s high, this ever-increasing retail spending bodes well for the retail property sector in Australia.

Large format retail, previously referred to as big-box retail, has seen significant growth as a sub-sector of retail property. This is a direct result of the lower occupancy costs associated with this style of property attracting tenants away from traditional retail property formats and expanding the range of likely tenants. It is true that online sales have been experiencing strong growth (from a low base) but, according to Australia Post, they are forecast to only make up 10% of total retail sales by 2020, the other 90% is acquired from physical stores.

Black Swan Portraiture Prize

Same prize. Different face.
The Black Swan Prize for Portraiture, one of the country’s richest prizes for portraiture has been renamed The Lester Prize in honour of the award’s greatest patron, Richard Lester.

The move has come after extensive consultation with artists, arts administrators, sponsors and partners to develop a name that is more ‘ownable’ and recognisable than ‘Black Swan’ – a moniker that is shared by many businesses, products and organisations in WA.

The new name recognises the leadership and support of Richard (Dick) Lester in helping the prize grow into one of the most prestigious on Australia’s visual arts calendar.

Along with the new name comes a new look for the Prize. The look reflects both the quality of the awards and its approachability.

Entries for the first year of The Lester Prize (Adult and Youth) open on 20 April 2019.

883 Abernethy Road, Forresfield

The new Lester Industrial Fund closes oversubscribed.


Executive Director Russell Lester said, “We are delighted at the quick take up of this offer and not surprised by the appetite for such an investment, in fact it closed over $2 million oversubscribed.”

Key Investment Highlights include;
  • 7.8% average annual cash return;
  • 6 year investment term;
  • Two high quality industrial Properties both 100% leased for 5+ years;
  • Bank guarantees from both tenants;
  • Lester Group will invest $1 million

Important Note: This is not an offer or invitation to invest. It is not intended to, nor does it contain any recommendation or opinion in relation to the issue of units in a property syndicate. Investors should read the Information Memorandum and obtain their own independent professional advice before making any financial decisions in relation to the issue of units in a property syndicate.

Copyright © 2019 Lester Group, All rights reserved.