SCentre 3rd Quarter Operating Update
SCentre reconfirms forecast FFO growth for the 12 months ending 31 December 2018 of approximately 4%. The distribution for 2018 is forecast to be 22.16 cents per security, an increase of 2%.
Total specialty in-store sales were up 1.8% for the 9 months and 2.0% for the year
> 400 sqm in-store sales were up 2.5% for the 9 months and 3.2% for the year
< 400 sqm in-store sales were up 1.7% for the 9 months and 1.6% for the year
Majors in-store sales were up 1.5% for the 9 months and 1.3% for the year
Total stable portfolio in-store sales were up 1.5% for the 9 months and 1.6% for the year
Completed Westfield Plenty Valley in March 2018 adding 10,300 square metres of additional lettable area including a new nine screen Village cinema complex and a dining and leisure precinct featuring 13 restaurants.
The $350 million Westfield Carousel opened its doors in August, delivering Perth’s premium retail and lifestyle destination. The centre attracted a number of first-to-WA retailers, the latest-format David Jones and 70 additional stores across the centre’s new fashion mall and open-air rooftop entertainment, dining and leisure precinct. The development added 27,500 sqm bringing the total GLA to 110,000 sqm.
Westfield Coomera was also completed this monthm marking the first greenfield development as Scentre Group. It is an example of the full evolution from shopping centre to living centre, with more than 40% of the centre dedicated to dining, leisure, entertainment and services.
Westfield Tea Tree Plaza’s redevelopment opened in October 2018 and features a new dining and leisure precinct showcasing a mix of first-to market retailers and local favourites. The redevelopment also includes an expanded, upgraded 12 screen cinema including South Australia’s first HOYTS LUX cinema