News Articles for Scentre Group

Perth retail trade growth outperforms nation

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Recent data shows that the Western Australian capital had stronger growth in retail turnover than other cities.

Social housing set for Ardross

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A 20-apartment Ardross complex will receive $12 million of federal funding for social housing.

Westfield Booragoon $792m upgrade delay granted

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Scentre Group has successfully sought a four-year delay to redevelop the shopping centre, pushing the project out further.

Approval for $38.5m Scentre Group apartments

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The shopping centre giant is planning to develop a seven-storey apartment complex near its Westfield Booragoon Shopping Centre.

Scentre seeks Garden City delay

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Scentre Group has sought a four-year extension to start the $792 million Westfield Booragoon redevelopment, citing “extenuating circumstances”.

Scentre Group profit up, valuations down

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The shopping centre giant has reported a $255 million profit increase for the first six months of the year.

Scentre FY profit falls but income improves

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Westfield owner Scentre Group has reported a steep drop in full-year profit due to property valuations but the company's leader says income improved.

Westfield centres boost Scentre sales

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Shopping centre magnate Scentre Group has bolstered its sales and customer visitation numbers off the back of its four Perth precincts.

WAPC endorses $792m Westfield Booragoon plan

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A $792 million expansion of Westfield Booragoon, which would make it the state's largest shopping centre, has been approved by WA's peak planning body.

Costs blow out in Westfield Booragoon plan

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Estimated costs for Scentre Group's updated proposal to build the state's largest shopping centre in Booragoon have escalated by nearly $300 million.

Fast track to boost infill

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Plans for a mid-tier public transport network connecting infill suburbs is gaining traction with industry.

Nedlands $35m aged care facing delays

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A $35 million development in Nedlands has hit a roadblock amid the “heated construction market", with applicant Oryx Communities requesting a two-year extension.

Apartments put on ice until market cools

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Retail giant Scentre Group has pleaded for a two-year deadline extension for its $42 million Whitfords apartment project amid cost escalations and supply issues.

Industry slams social housing quota plan

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The City of Stirling has backed off on its plan to introduce a social housing quota for future developments following feedback from industry groups, including Adrian Fini's group.

Scentre Group unveils $500m Booragoon plans

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Scentre Group has offered a first look at its $500 million expansion plan for Westfield Booragoon, with retail tenancies, outdoor dining and an entertainment precinct.

$500m expansion plan for Westfield Booragoon surfaces

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The long-awaited redevelopment of Westfield Booragoon appears to be back on the agenda, after an application for a $500 million expansion of the centre was made public this afternoon.

Developing the retail experience

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Retail property players are trying to keep pace with the structural shift in shopping habits accelerated by the pandemic.

Westfield operator swings to half-year profit

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Westfield shopping centres operator Scentre has swung to a half-year profit of $400.4 million as customer traffic rebounded when lockdowns eased in the first half of the year.

Scentre investors hit out against exec pay

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Investors in Westfield-owners Scentre Group have served a 'first strike' on executives' pay, after the company leaders produced a full-year loss and reduced final dividend.

Pandemic puts spotlight on industrial strength

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While not the most glamorous assets in the commercial property sector, bulk warehouses, workstations, logistics centres and sheds have proved their worth in 2020.

Investors make strategic retail play

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Certain pockets of the retail market have proved their value during the pandemic, and investors are taking notice.

Retailers seek an edge in battle back from closure

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The pandemic has accelerated existing issues and trends facing the retail property sector.

Rent relief should go: property groups

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Property groups fear today's announcement of timeframe extensions for COVID-19 rent assistance measures could harm further economic recovery.

Westfield operator posts $3.6bn loss

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Westfield shopping centres operator Scentre Group and property company Stockland have both reported write downs on the values of their assets, pointing to the impacts of COVID-19.

Westfield shoppers near pre-virus levels

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Shoppers seem to be flocking back to stores, with the owner of Westfield centres in Australia saying customer visits are at 86 per cent of the level at the same time a year ago.

Finding the right retail therapy

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As shops across WA begin to reopen as social distancing restrictions ease, retail property owners are starting to reflect on the health of their assets.

Scentre Group says more stores reopening

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Scentre Group says that 57 per cent of retailers at its 37 Westfield malls across Australia are open and trading, with significantly more shops to open over the coming weeks as the coronavirus lockdowns ease.

Code of conduct coming for commercial tenancies

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A mandatory code of conduct for commercial leases is expected to be finalised by next week, as federal and state governments continue to work towards a mutually-beneficial solution for landlords and tenants affected by COVID-19.

ASX jumps despite RBA's recession fears

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The Australian share market has rallied as coronavirus-fuelled volatility continues, even as the Reserve Bank released minutes showing members were worried about the likelihood of a recession.

Aust stocks plunge, snapping gain streak

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Australia's share market has plunged again following three days of gains, smashing any incipient hopes that the bear market is finished.

Iris nears construction start at Booragoon

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Iris Residential has overcome a range of challenges to build its Booragoon apartments project, to begin within weeks.

Built appointed for $100m Kardinya redevelopment

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Retail developer Con Berbatis has appointed Sydney-headquartered construction firm Built to carry out building works on Kardinya's new $100 million town centre, under an early contractor involvement framework.

Scentre Group buys into Garden City for $570m

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Garden City Booragoon will soon be rebranded as Westfield Booragoon, after Scentre Group acquired a half stake in the shopping mall from AMP Capital for $570 million.

Retail conditions stall centre builds

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Subdued retail conditions in WA have resulted in more than $2.5 billion of shopping centre expansions to be deferred or have no timetable for development.

Perron buys Westfield centre stake for $575m

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Privately-owned Perth company Perron Group has added to its vast property portfolio by purchasing a 50 per cent stake in Sydney's Westfield Burwood shopping centre for $575 million.

Checkout squeeze on centre landlords

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OPINION: Damaging supermarket prices wars and more online shoppers have turned the screws on a besieged retail property sector.

UNIQLO to open second store in Perth

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Japanese fashion store UNIQLO has announced it will open a second Perth store at Westfield Carousel this winter.

Experiential retail connections

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SPECIAL REPORT: The reinvention of retail assets has taken centre stage when it comes to online competition, with centre owners, developers and tenants seeking to create experience-driven destinations.

Shopping for experiences

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SPECIAL REPORT: New retail property developments are driving offerings that capitalise on lifestyle needs, but five of the biggest projects are yet to push the button.

Carousel’s $350m revamp reveal

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Scentre Group is set to lift the curtain of its $350 million Westfield Carousel redevelopment at the end of this month, which will feature a new rooftop dining and entertainment precinct as well as an additional fashion mall, anchored by David Jones.