Westfield Group

WESTFIELD Innaloo will be the next suburban shopping centre to undergo a facelift. The 44-year-old shopping centre is to be expanded and refurbished by the Westfield Trust, which also owns the Galleria, Morley, and Carousel, Cannington.

COLES Myer has sold its half interest in Perth’s Galleria Shopping Centre to Westfield Trust in a $289 million deal signed this week, ten years ago. Westfield signed the contract with joint vendors Coles Myer and Colonial Mutual, on a tight yield of 7.5 per cent.

David Jones says it hopes to establish a dominant presence in Perth, after securing an option to open a new store at Westfield Innaloo.

Plans are in motion for a $350 to $400 million redevelopment of Booragoon’s Garden City shopping centre, after a complex multi-million dollar ownership swap between Westfield and AMP Capital.

THREE major shopping centre expansion projects are set to proceed in Perth during the next year, following AMP Capital’s move to full ownership of Garden City in Booragoon.

The state Liberal party has been the main beneficiary of donations from Western Australian business over the past year, new campaign finance data reveals.

When the big players start exiting a sector it’s a fair bet things are on the slide; and so it is with with the Lowy family’s decision to quit its retail trust.

Major private shopping centre owner Perron Group is investing heavily in its WA retail assets as competition for retail properties intensifies.

Westfield has been given the green light to buy all of Karrinyup Shopping Centre if it releases ownership of nearby shopping centre Westfield Innaloo.

Westfield Group looks set to offload its stake in two major shopping centres in suburban Perth just days after it was given the green light to increase ownership of the Karrinyup centre.

Strong population growth and changes to retail regulations are driving shopping centre sales.

Retail giant Westfield’s $192 million plan to expand its Whitfords City shopping centre has been tripped up by the Metro North-West Development Assessment Panel, which says the proposal is not appropriate.

Western Australia's shopping centres have more than 19 per cent higher productivity compared to the national average, but property consultant Urbis has warned shopping centres in the West are falling behind those in the eastern states because of less investment and centre growth.

Westfield Group has terminated an agreement that would have allowed it to sell the Innaloo shopping centre for $255 million to Charter Hall Group.

Those who predicted the death of traditional media may have cast their votes too early.

European shopping centres are evolving to include more leisure and lifestyle pursuits in an attempt to provide an experience the internet can’t.

Chevron Australia managing director Roy Krzywosinski and Rio Tinto Iron Ore chief executive Andrew Harding have joined some of Australia’s top business leaders in being honoured by the American Australian Association.

It’s hard to not admire Frank Lowy, either as founder and major shareholder of the Westfield retail property group or for the $6 billion personal fortune he has amassed after arriving in Australia as an impoverished European migrant in 1952.

The founders of a popular Korean restaurant in Karawara have curtailed their original expansion plans, despite being flooded with offers to open a number of new outlets.