Overview

Westfield Corporation is one of the world’s leading shopping centre companies with iconic retail destinations in London, New York, San Francisco and Los Angeles among its portfolio of 40 centres. Westfield Corporation is listed on the Australian Stock Exchange and was created in June 2014 when Westfield Group separated its Australian and New Zealand business from its international operations. The Australian and New Zealand shopping centres are now owned and managed by Scentre Group.

Last year approximately 425 million customer visits to Westfield Corporation shopping centres generated $17 billion in retail sales.

Westfield centres are highly productive, with strong franchise value and the ability to attract the world’s leading retail brands. They are an essential part of the community’s social and economic fabric.

Westfield’s strategy is to develop and own superior retail destinations in major cities by integrating food, fashion, leisure and entertainment and by using technology to better connect retailers with consumers.

Westfield continually improves its portfolio by developing existing centres, acquiring new centres and exploring opportunities in new markets. Many shopping centres in the portfolio are owned in partnership with the world’s leading property investment institutions.

Westfield also works with the world’s leading retail and luxury brands to create a unique shopping and leisure experience.

Westfield manages every aspect of its portfolio - from design, construction and development to leasing, management and marketing – ensuring that its centres constantly meet the highest expectations of today’s retailers and consumers.

  • 40 Malls
  • 7,468 Retail Outlets
  • 425m Shopping Visits
  • $27.7B* Portfolio Value

Gross Lettable Area

  • Regional / Non Core%
  • Regional%
  • Flagship%

Assets Under Management

  • Regional / Non Core%
  • Regional%
  • Flagship%

WFD Interests

  • United States70%
  • United Kingdom30%

* Development site Milan, Italy

Current Flagship Regional Total 4
Assets Under Management (AUM) ($bn) 1 $18.3$8.2$27.7
% of Portfolio 1 66%30%
WFD Interests ($bn) 1 $11.4$5.0$17.6
Yield 1 5.1%6.0%5.5%
Portfolio Leased (%) 95.9%93.1%94.4%
Specialty Occupancy Cost (%) 15.4%14.7%15.2%
Specialty Retail Sales (MAT/psf) $954.0$467.0$681.0
Specialty Retail Sales Growth (%) 2 5.8%2.1%4.2%
Average Specialty Store Rent - Amount (psf) $117.9$61.2$87.6
Average Specialty Store Rent - Growth YOY (%) 5.1%2.4%4.0%
Comparable NOI Growth(%) 3 5.5%5.0%5.3%

* Stats in USD unless specified otherwise

1 Total includes six assets considered non-core valued at $1.2bn
2 12 months to 30 June 2014
3 6 months to 30 June 2014
4 Operating statistics exclude six assets considered non-core valued at $1.2bn with annual specialty sales of $321psf


"Evolution and change are the words for shopping centre success." - Frank Lowy, Chairman
  • Iconic Retail Destinations Video

Westfield is currently investing in high quality assets to meet the needs of today's shopper. These new centres attract the world's leading brands and feature the best in architectural design.