SHOPPING CENTRES – AUSTRALASIA

Lowy calls time on retail empire

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Original article by Ben Wilmot, Bridget Carter
The Australian – Page: 17 & 22 : 17-Oct-19

The Lowy family has sold more than 206 million shares in Scentre Group via a block trade. The $815m transaction comprised some 3.9 per cent of the real estate investment trust’s shares, and it marks the family’s exit from the owner of Westfield shopping centres in Australia and New Zealand. Steven Lowy, the son of Westfield’s co-founder Sir Frank Lowy, resigned from Scentre’s board in April. Peter Lowy also stepped down from the board of Unibail-Rodamco-Westfield earlier in 2019.

CORPORATES
SCENTRE GROUP – ASX SCG, UNIBAIL-RODAMCO-WESTFIELD – ASX URW

End of an era as Lowy flags Scentre board departure

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Original article by Ben Wilmot
The Australian – Page: 23 : 16-Nov-18

Steven Lowy has advised the board of Scentre Group that he will not seek re-election as a director at its AGM in April. Scentre is the owner and operator of Westfield shopping centres in Australia and New Zealand, with Lowy’s father Sir Frank having co-founded Westfield in 1960. Sir Frank struck a deal in December 2017 to sell Westfield Corporation, the owner of its international malls, to Unibail-Rodamco for $US24.7 billion ($32 billion). Steven Lowy was the last member of the Lowy family to remain on the Scentre board.

CORPORATES
SCENTRE GROUP – ASX SCG, WESTFIELD CORPORATION, UNIBAIL-RODAMCO, UNIBAIL-RODAMCO-WESTFIELD – ASX URW

SCA profit jumps as shoppers spend up

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Original article by Elizabeth Redman
The Australian – Page: 23 : 9-Aug-17

The listed Shopping Centres Australasia Property Group has posted a 2016-17 profit of $A319.6m, which is 73 per cent higher than previously. The total value of its portfolio of shopping centres rose from $A1.89bn to $A2.36bn. The real estate investment trust has advised that it has rebalanced its mix of tenants to include non-discretionary retailers that are less likely to lose customers to online giant Amazon than outlets such as clothing stores.

CORPORATES
SHOPPING CENTRES AUSTRALASIA PROPERTY GROUP – ASX SCP, AMAZON.COM INCORPORATED, CHARTER HALL RETAIL REIT – ASX CQR

Scentre plans $1bn splurge

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Original article by Ben Wilmot
The Australian – Page: 26 : 23-Sep-16

Australian-listed shopping centre landlord Scentre Group will ramp up its development program in 2017. It has announced more than $A1bn of new projects, including a $A600m expansion of the Westfield Newmarket shopping centre in Auckland and the development of a 54,000sq m shopping centre at Coomera in Queensland. Scentre has also been actively divesting non-core assets.

CORPORATES
SCENTRE GROUP – ASX SCG, WESTFIELD CORPORATION – ASX WFD, CBUS PROPERTY PTY LTD, DAVID JONES LIMITED, KMART AUSTRALIA LIMITED, TARGET AUSTRALIA PTY LTD, COLES SUPERMARKETS AUSTRALIA PTY LTD, WOOLWORTHS LIMITED – ASX WOW, ALDI STORES SUPERMARKETS PTY LTD, EVENT CINEMAS (AUSTRALIA) PTY LTD, GPT GROUP – ASX GPT

Scentre posts steady growth, higher fees

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Original article by Robert Harley
The Australian Financial Review – Page: 35 : 24-Feb-16

Australian-listed shopping centres landlord Scentre Group has reported that its funds from operations rose by 3.8 per cent to $A1.199bn in calendar 2015, which equates to $A0.2258 per security. The real estate investment trust expects funds from operations to increase by three per cent in 2016. Investors will receive a full-year distribution of $A0.209 per security, which is forecast to rise to $A0.213 in 2016.

CORPORATES
SCENTRE GROUP – ASX SCG, WESTFIELD CORPORATION – ASX WFD, MORGAN STANLEY AUSTRALIA LIMITED