News Articles for Scentre Group

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

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

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

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

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

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.

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

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.

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

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

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

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.

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

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.

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

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.

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.

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

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

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

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

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.

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.

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 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.

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.

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.

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

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

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.

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.

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.

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.

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

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

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.

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.

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.

SPECIAL REPORT: High-density residential developments are emerging alongside some of the state's shopping centres, as owners seek to reposition their assets to offer more than just retail.