Ballarat Central Square listed for sale as retail precinct struggles
Ballarat's Central Square shopping centre is on the market for over $35 million, reflecting the regional CBD's ongoing struggles.
Central Square was built in 1988 in a 15-month construction project. It's now expected to fetch more than $35 million.
The 12,428-square-metre complex is 90.4 per cent occupied and generating $1.81 million in annual income. Myer and Target have long-term leases, so the listing marks a change of ownership.
The sale reflects broader retail struggles in Ballarat after shopping expanded to suburbs and COVID-19 hit the CBD. The city's economic growth fell 2.4 percent in 2024, its first annual decline in 25 years.
- $35 million+
- Expected sale price
- 1988
- Built in
- 90.4 percent
- Current occupancy
- $1.81 million
- Annual income
Why it mattersThe sale signals ongoing weakness in regional CBD retail, which affects property values, business investment, and employment in Ballarat.
AustraliaBallarat businesses are struggling with rising costs, taxes, and weak consumer spending in regional Victoria, threatening local employment and retail vibrancy.
✓ Claims checked against the source and corrected before publish. checked 1 h ago
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