Retail - Australia

Westfield Whitford City Shopping Centre, Hillarys WA

 

Retail Highlights

Portfolio value
$270 million (2008: $280 million)

Like for like income growth
4.5% (2008: 7.4%)

Occupancy (by area)
99.9% (2008: 99.2%)

Lease duration (by income)
4.5 years (2008: 4.5 years)

Following the sale of the retail portfolio in October 2007, DEXUS retained a 50% interest in Westfield Whitford City in WA. The Centre continued to deliver strong performance in the period, recording nearly eight million visits through the year, providing a moving annual turnover of $7,373 per square metre and an average spend per visit of $58.20.

The Centre represents 3% of the Group’s NPI and will ultimately be sold, consistent with our strategy to concentrate on the office and industrial sectors.