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Over 95% Of Stores In Westfield Malls “Open and Trading”

Scentre Group, who own Westfield malls, announced it has collected $1.8 billion in gross rent during 2021, an increase of $607 million since June 30.

Occupancy was sitting at 98.5 per cent at the end of September, while the group completed 2,010 lease deals, including 868 new merchants and 191 new brands, during the first nine months of 2021.

“Customers are again rapidly returning to our Westfield Living Centres in NSW, VIC and ACT now that restrictions have eased,” Scentre Group CEO Peter Allen said.

“We are also looking forward to welcoming back more businesses and customers to our Auckland centres.

“Over 95% of stores in our Australian portfolio are open and trading, with more stores to reopen over the coming weeks.

“The resilience of our platform together with the actions we have taken throughout the pandemic has seen our business perform well, isolating the impact of these restrictions to the lockdown periods.”

The group has also returned to its original distribution guidance from February, expecting to distribute 14c per share for the 2021 year.

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