Perth-based billionaire Stan Perron on the other hand has made one
of the biggest buys of the year, spending just under $700 million to take half
stakes in three of Centro’s biggest shopping centres: Perth’s Galleria,
Adelaide’s Colonnades and Melbourne’s The Glen. It was a huge deal for the
recovering Centro and a big deal for the retail sector. But it also represents
a strong endorsement in the retail sector by the canny Perron, who now has 80%
of his extensive property portfolio in retail.