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Source: ONE News -
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Shopping centre owner Westfield Group says solid Australian trading conditions continued in the third quarter, while stabilisation continues in the United States, United Kingdom and New Zealand.
Delivering the group's review for the three months to September 30, managing director Steven Lowy said the group's resilience had shown through.
"There has been a continuation of solid performance in the Australian portfolio while stabilising conditions continue in the United States, the United Kingdom and New Zealand," he said.
Overall, 96.8% of Westfield's shopping centre portfolio was leased at September 30, down 0.5 percentage points on the same point last year.
The Australian and New Zealand portfolio had remained resilient through the economic downturn with close to full occupancy, Lowy said.
In the US, 92.1% of the portfolio was leased, while in the UK it was 97.8%.
Both of those portfolios had come of respective lows of 90.1% and 90.6% experienced in March this year, Lowy said.
