Morgan Stanley Tip Westfield Malls Best Set To Recover
Morgan Stanley analysts predict Scentre-owned Westfield will be among the best set shopping malls for recovery amidst the coronavirus pandemic.
The news comes as many retail tenants engage in negotiations with landlords over lease agreements pre and post lockdown restrictions.
Reported by The Australian, Morgan Stanley analysts claim Westfield and Scentre have been a more active redeveloper of assets in recent years – placing it at an advantage versus other centres who may be more rundown.
The news comes as retailers seek to review their physical store presence and consolidate amidst cost-cutting measures.
Analysts claim Westfield’s efforts to beautify assets over the last five or so years has resulted in better retail ambiences, and thereby less prone to be cut.
Citing a less work to be done and other conditions, the analysts have reportedly maintained an overweight rating on Scentre, and underweight on rival Vicinity Centres.