John Gandel

John Gandel AC, an Australian businessman, property developer and philanthropist, made his fortune in the development of commercial real estate as well as shopping centres located in Melbourne, Victoria.

  • Gandel owns half of the southern hemisphere’s largest shopping mall, Chadstone, with more than 500 stores in eastern Melbourne.
  • He also has a big stake in listed property trust Vicinity Centres, which owns the other half of Chadstone, plus other malls and outlets.
  • He first got rich by expanding his Polish immigrant parents’ clothing chain for women, Sussan, now owned by his niece, Naomi Milgrom.
  • But he made most of his wealth from the shopping malls he bought from Myer department stores for $37 million in the 1980s.
  • Gandel says the key to his success was the deregulation of shopping hours and shopping becoming a leisure activity.