Large Format Retail webinar, 2026 and beyond

Ray White Commercial CSR recently hosted the webinar Large Format Retail: 2026 and Beyond.

Moderated by Vanessa Rader, Head of Research at Ray White, and hosted by Julie Ryan, CEO, Major Assets & National Retail, Ray White Commercial (CSR), the insightful session brought together sector leaders to discuss investment demand, planning constraints, development pressures and the outlook for Large Format Retail.

Philippa Kelly, CEO of the Large Format Retail Association, shared insights into the sector as well as key challenges ahead from an advocacy and policy perspective, including the latest on the new Mergers and Acquisitions Framework which commenced on 1 January 2026.

“One of the key differences of the Large Format Retail Association is that we don’t just represent retailers. We represent the entire Large Format Retail ecosystem, owners, agents, developers and service suppliers, including groups like Ray White. That means we advocate for the whole sector, not just one part of it,” she said.

“We work closely with governments across Australia on key policy issues, and we provide our members with advocacy, timely information, education and networking opportunities. Our role is to strengthen and support the sector as a whole.”

A recent example is the reform of Australia’s mergers and acquisitions framework, which commenced on 1 January 2026. While the legislation has now passed and several important refinements have already been secured following industry engagement, aspects of the regime continue to raise practical concerns for the sector.

“The reforms are far-reaching in their application, and while we welcome the amendments achieved to date, we remain focused on ensuring the regime operates as intended in practice,” said Ms Kelly, who continues to engage actively with Treasury on behalf of the Large Format Retail Association and its members.

Alex Capra, Head of Development and Leasing at Harvey Norman Holdings, highlighted ongoing constraints around land supply, appropriate zoning and rising construction costs, while noting the shift toward mixed-use formats that extend dwell time through integrated food, leisure and experiential offerings.

Phil Schoutrop, Principal at Buchan Architects provided global perspective on how Large Format Retail precincts are evolving, informed by the overseas study tours which he coordinates in collaboration with the Large Format Retail Association.

The session reinforced that Large Format Retail remains a resilient and evolving asset class, underpinned by employment scale, investor demand and adaptation to planning and technological change. It highlights the agility and innovation that characterise the sector, particularly its stability of tenant demand, alignment with housing growth and community expansion, and ongoing adaptation through creative use of space.

Ms Ryan said, “Rather than giving up space, Large Format Retail tenants tend to right-size. They may sublease a section if they need to be smaller, but they don’t want to leave a location where their customer base knows them, they want to stay and make it work.

“A tremendous amount of Large Format Retail services emerging communities. When people move into a new home, whether they’re building or renovating, they spend a lot of money in Large Format Retail, so it’s essential that those retailers move into new space,” she added. “If you want to be in those locations, you either have to find a way for the greater returns which means smaller footprint delivering some creative uses or ..higher rents need to be paid.”

Thank you to Ray White Commercial for hosting such an important sector discussion.