Scentre Sells 49% Stake in 5 NZ Malls

Written by Ben Ross - Talking Auckland

Still continues control however

 

Saw this earlier today.

From Scentre Group Limited (we know them as Westfield)

 

It is to note that (from the presser above):

Scentre Group would own a 51 per cent interest in each of the five malls and would continue to provide property management, development, design and construction services.

So the rather poor urban design features we see in our malls now and any in the future from Scentre will continue (they are also opposing my submission to the Unitary Plan as well around the Super Metropolitan Centre concepts in Manukau and Albany).

 

Well I know Scentre were going to be selling off the Malls and it seems they have been with these particular five and not others.

Some figures on the Manukau City Centre – Scentre Mall

 

Land parcels in Manukau City Centre, and Metropolitan Centre area
Land parcels in Manukau City Centre, and Metropolitan Centre area

KEY STATS AND FIGURES

  • 199 NUMBER OF RETAILERS

  • 45,528 m2 GROSS LETTABLE AREA

  • AUD$212,300,000 TOTAL ANNUAL RETAIL SALES (NZ$236,156,000 on an Exchange Rate at $1.11

  • 8,300,000 ANNUAL CUSTOMER VISITS (Albany and St Lukes have 8,500,000)

  • 2,113 CAR PARKING SPACES

 TRADE AREA POPULATION 355 THOUSAND
POPULATION GROWTH PERCENTAGE+1.80%

AGE PROFILE

  • 15.9%15-24
  • 21.7%25-39
  • 23%40-59
  • 39.4%OTHER

* All amounts are in Australian dollars unless specified otherwise

…….

Source: http://www.scentregroup.com/centre/westfield-manukau-city/

 

I wonder if any other of Scentre’s Mall will be sold partially off and maybe when will full stakes be sold.