Scentre plans hybrid raising
Westfield’s local malls are under pressure but the company is poised for one of the biggest hybrid issues in the wake of the coronavirus crisis.
Westfield’s local malls are under pressure but the company is poised for one of the biggest hybrid issues in the wake of the coronavirus crisis.
Shopping centre landlord Scentre Group has many options to reduce its high debt levels, say analysts at Morgan Stanley.
The owner of the local Westfield empire has fired a fresh shot in the battle between landlords and tenants, saying it collected 86 per cent of rents in August.
Scentre, owner of the local Westfield empire, is riding a share-price lift on the back of expectations it could launch a major equity raising.
The country’s biggest shopping centres are suffering sharp falls in values, amid predictions rents paid by retailers could fall 20pc.
Mosaic’s deal with Scentre could herald more agreements as retailers struggle to pay mall rent during the pandemic.
This long-simmering dispute is moving to a legal confrontation that could trigger the closure of hundreds of stores.
Scentre’s dive to a loss comes after COVID-19 turned its malls into ghost towns, forcing a $4bn hit to property values.
The battle between shopping centre landlords and retailers is entering a new and potentially more dangerous phase.
The owner of Westfield shopping centres in Australia has taken a massive financial blow and lost billions because of the coronavirus pandemic.
Retail chief Paul Zahra is worried about rising tensions between mall landlords and tenants ahead of the crucial Christmas season.
Property industry warns on code as local Westfield empire owner demands rent and boards up stores.
Analysts from Macquarie Bank are calling attention to the company’s increasing debt.
Mall operator Scentre reveals the impact of shutdowns on its portfolio, as it reverses pandemic pay cuts for board and bosses.
Surveying Melbourne’s commercial property sector, Macquarie Equities has identified the listed groups likely to be hardest hit.
Kevin Rudd defends his government’s response to the GFC.
Original URL: https://www.theaustralian.com.au/topics/scentre/page/3