Scentre Group’s rent collections, visitors up in first nine months

(Source: Bigstock)

Westfield operator Scentre Group booked higher rent collections and witnessed more visitors during the nine months to September 30.

Gross rent collections grew by $78 million to $2.07 billion while total business partner sales increased 2.3 per cent to $20.2 billion.

Annual sales reached a record $28.8 billion as of September 30 and visitors increased by 2.1 per cent to 429 million.

The group said it continues to progress its $4 billion pipeline of future retail development opportunities.

For the year, Scentre Group reaffirmed its forecasted funds from operations ranging from 21.75 cents to 22.25 cents, up 3 per cent to 5.4 per cent growth.

The group expects distributions to be at least 17.20 cents per security, representing a 3.6 per cent increase.

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