Westfield Group are allegedly in the early stages of agreeing a deal with Starwood Capital Group to sell seven of its U.S. shopping malls, according to Reuters. Private real estate investment company, Starwood Capital Group, are thought to offering in excess of USD 1 billion for the acquisitions, a source revealed on Wednesday.

Posted by Joe Stearn

Read more…

Already considered one of the most prestigious fashion capitals in the world, Milan is set to get a taste for the mega outlet shopping mall as plans involving Westfield and Arcus Real Estate get underway. Westfield Milan is expected to cover 230,000 square metres of GLA, with 170,000 square metre GLA to be released in the first phase, estimated for early 2016.

Posted by Ava Szajna

Read more…

Australian retail property giant Westfield saw net profit rise 18.3 per cent to AUD 1.72 billion in the year to 31 December. As owner of one of the world’s largest shopping portfolios, Westfield commands a network of 105 shopping centres across five counties with over 22,800 retail stores, 1.1 billion annual customer visits and over AUD 40 billion in annual retail sales.

Posted by Ava Szajna

Read more…

The Whitgift Centre. Developers Westfield Group and Hammerson have agreed to redevelop the Croydon-based Whitgift shopping centre together, after months of duelling over the rights to its ownership. The conflict began when both developers were offered the rights to redevelop the centre by multiple companies who owned a share of interest in it.

Posted by Ryan Legge

Read more…

Home to Europe’s busiest shopping street, some of the most expensive strips of real estate in the world, and one of the largest urban shopping centres in Europe, London can now add most attractive location for international retailers to its impressive list of accolades.

Posted by Ava Szajna

Read more…

Fast fashion retailers Quiz has renewed two leases in Manchester’s Trafford Centre and Preston, as the brand continues to expand in the UK and internationally. With locations across the UK including Westfield’s Stratford City and concessions in Debenhams, Quiz have renewed and opened 10 stores for 2012.

Posted by Ava Szajna

Read more…

Stratford City yesterday announced a record breaking 47 million people had walked through its doors since opening a year ago. The sprawling mall, which yesterday celebrated its first birthday, said it had received 8.5 million visitors over the course of the Olympics and Paralympics alone.

Read more…

Australian shopping centre group Westfield has submitted plans to redevelop the Whitgift Centre in Croydon, despite reports earlier this year that the mall’s owners could not agree on a developer. If successful, Westfield’s plans would add a third shopping centre to its London property portfolio, which includes the Westfield London mall in Shepherd’s Bush, and the Stratford City centre at the site of the Olympic 2012 Games.

Read more…

Rumours of grumbling neighbours, scheduling setbacks and even a summer downpour couldn’t keep shoppers away from the much awaited launch of Victoria’s Secret’s London flagship. The US lingerie giant on Wednesday unveiled four floors of Victoria’s Secret heaven for the label’s devoted UK fans.

Read more…

The London 2012 Games gave Westfield “unprecedented exposure to a global audience” with 5.5 million people visiting the group’s Stratford City centre during the Olympics. The Australian property giant has suggested it is one of the biggest retail winners of the event, with strong footfall figures over the last two weeks meaning the group will now be on target to attract 60 million shoppers in total to its London centres this year who are forecast to spend £1.8 billion.

Read more…