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

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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