Well in my opinion you would need to setup a owners corporate to deal with the common area issues this would lead to quite higher occupancy costs in the eyes of both tenants and purchasers.
not to mention you would be losing most of the powers you have being the sole owner, whilst you may retain ownership of the larger retailers you may be voted out when they discuss issues such as tenancy mix, maintenance contracts, centre management etc etc,
I am not saying that there is no money in it but I am managing tenancies for a building on behalf of 20 owners and it is a nightmare for them they all want out but they don't agree on where to go, what to do, how much they want to pay. Due to this tenants will not move in and unit holders can't sell due to some stupid legal action about the damn roof.
but more then happy for you to prove me wrong.
Also I thought I read somewhere that the site was located in NSW don't recall where I got that from.
I was under the impression that WA retail was closer to commercial then all other states seems I was mislead reading some of this s..t.