Scentre Group: Interim result 2016

The shopping centre landlord is continuing to build on its strong foundations.

The collapse of Dick Smith left a number of victims in its wake. However, unlike the shareholders or bankers who are desperately fighting to get some of their money back, it barely left a dent in Scentre Group — who leased 40 sites to the former electronics retailer. Although it took a few months, all 40 sites have now been successfully re-leased to other retailers at higher rents than before. Dick who?

Still close to fully occupied.

Strong development pipeline.

Increasing price guide.

It’s a testament to the quality of Scentre’s properties that the collapse of a company that leased 1% of its total lettable area was so easily overcome.

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