Westfield Retail Trust

Westfield Retail Trust’s recent annual meeting was a surprisingly positive affair considering the wider concerns about Australian retailing and property prices. The trust’s portfolio of 54 Australian and New Zealand shopping centres is practically full, rents have increased 3.1% over the past 12 months (to 31 Mar) and speciality retailers increased sales by 1.2%. Furthermore, the trust remains eager to increase earnings with a $1.3bn pipeline of new developments over the next 5-7 years. Recently completed projects include the flagship Sydney centre in Pitt Street Mall and Belconnen Mall in Canberra. As Australian retail rents remain some of the...

Westfield Retail Trust’s recent annual meeting was a surprisingly positive affair considering the wider concerns about Australian retailing and property prices. The trust’s portfolio of 54 Australian and New Zealand shopping centres is practically full, rents have increased 3.1% over the past 12 months (to 31 Mar) and speciality retailers increased sales by 1.2%. Furthermore, the trust remains eager to increase earnings with a $1.3bn pipeline of new developments over the next 5-7 years. Recently completed projects include the flagship Sydney centre in Pitt Street Mall and Belconnen Mall in Canberra.

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