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Westfield Owner Offers Rent Relief To Sydney Tenants

Scentre Group, owners of Westfield shopping centres in Australia, has assured its tenants that rent deferrals will again be available to struggling businesses.

Scentre chief executive Peter Allen sent a sympathetic memo to all tenants.

“It’s especially tough for our SME retail partners or ‘mum and dad’ retailers in Greater Sydney. Many have temporarily closed as a result of the health orders while others have decided to close because of the additional limits on movement,” he wrote.

Westfield Sydney

“We are committed to working with SME retailers (aggregate annual turnover less than $5 million) to mitigate the short-term cashflow impact on their business during this time through appropriate rent deferral.

“We know from support already provided through the height of the pandemic that this is the cohort of retailers who need assistance.

“Where needed, we encourage our SME retailers to contact their Westfield centre or leasing account manager and talk to us about their individual circumstances.”

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