Westfield Operator Open to Partners

Wednesday, September 3rd, 2014
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The operator of Westfield shopping centres in Australia and New Zealand says it would consider selling partial stakes in some of its centres.

Scentre Group was established through a restructure of Westfield in June, and currently owns or part owns 38 shopping centres in Australia and nine in New Zealand.

The company is in talks with several investment groups about a potential sale of 50 per cent stakes in its New Zealand properties, according to media reports.

Scentre has not confirmed the reports, but said the introduction of joint venture partners fits with its focus on maximising income and capital growth.

“Should this strategy result in new transactions for the group, Scentre Group will advise the market,” it said.

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