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Shopping Centres

Sales and footfall up at Westfield’s UK centres

The owner of the Westfield shopping centres, Unibail-Rodamco (URM), has reported a 5.2% increase in tenant sales at its UK centres during Q3, also reporting a spike in footfall.

For the three month period ending 30 September 2019, URM reported a 3.9% increase in footfall at its Westfield Stratford and Westfield London centres with European footfall as a whole increasing by 3.1%.

The company added that through August alone, tenant sales in Europe (+5.2%) outperformed the aggregate national sales indices by +332 bps, adding that the performance “reflects the superior quality of the group’s European shopping centres”.

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In addition, for the nine month period to the end of September URM reported a 16.3% year-on-year increase in shopping centres turnover to £1.35bn.

In gross rental income URM revealed that UK shopping centres recorded the biggest jump, up 112% £70.54m. This was followed by its US store estate which saw a 102% increase to £295.9m.

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