From Westfield Bondi Junction to North Rocks: where shoppers are spending (or not) their money in Westfield’s vast retail portfolio

From Westfield Bondi Junction to North Rocks: where shoppers are spending (or not) their money in Westfield’s vast retail portfolio
From Westfield Bondi Junction to North Rocks: where shoppers are spending (or not) their money in Westfield’s vast retail portfolio

Shopping centre giant Westfield, one of Australia’s biggest retail landlords, reported a strong 2011 to December 31, with profits of $1.5 billion despite the challenges facing the retail sector.

In its 2011 annual report, Westfield says its Australian portfolio remained resilient and at almost full occupancy “reflecting the ongoing demand for high-quality retail space”.

Westfield operates 43 malls throughout Australia, with Airport West in Melbourne recording the strongest increase in sales of 7% over the year, followed by Belconnen in the ACT, with a 5.5% gain.

There were 18 stores that recorded a decline in sales over the year, the biggest being a 10.3% drop in Kotara, Newcastle followed by an 8% declined in Pacific Fair on the Gold Coast.

Westfield Bondi Junction in Sydney’s eastern suburbs, which managed over $1 billion in sales in 2010, declined by 3.9% to $973 million in 2011.

Here’s a breakdown of how Westfield’s centres performed, starting from Bondi Junction and ending with North Rocks in Sydney’s west ($144 million):

(Annual sales figures for Westfield Sydney are not yet available – the shopping centre has 257 retailers and 78,000 square metres of lettable area).

$973 million

The total annual sales at Bondi Junction, NSW, which declined 3.9% over 2011. The shopping centre has 522 retailers and 129,000 square metres of lettable area.

$890 million

The total annual sales at Chermside, Queensland, which increased 2.1% over 2011. The shopping centre has 415 retailers and 146,000 square metres of lettable area.

$812 million

The total annual sales at Doncaster, Victoria, which increased 3.4% over 2011. The shopping centre has 437 retailers and 121,000 square metres of lettable area.

$779 million

The total annual sales at Southland, Victoria, which increased 0.3% over 2011. The shopping centre has 416 retailers and 130,000 square metres of lettable area.

$773 million

The total annual sales at Marion, SA, which increased 1% over 2011. The shopping centre has 331 retailers and 133,000 square metres of lettable area.

$713 million

The total annual sales at Parramatta, NSW, which declined 2% over 2011. The shopping centre has 498 retailers and 137,000 square metres of lettable area.

$711 million

The total annual sales at Warringah Mall, NSW, which declined 2.7% over 2011. The shopping centre has 327 retailers and 125,000 square metres of lettable area.

$707 million

The total annual sales at Knox, Victoria, which declined 3.9% over 2011. The shopping centre has 410 retailers and 143,000 square metres of lettable area.

$703 million

The total annual sales at Marinda, NSW, which declined 2.7% over 2011. The shopping centre has 393 retailers and 108,000 square metres of lettable area.

$661 million

The total annual sales at Carindale, Queensland, which declined 0.6% over 2011. The shopping centre has 284 retailers and 106,000 square metres of lettable area.

$654 million

The total annual sales at Fountain Gate, Victoria, which declined 2.3% over 2011. The shopping centre has 285 retailers and 127,000 square metres of lettable area.

$612 million

The total annual sales at Hornsby, NSW, which increased 0.7% over 2011. The shopping centre has 333 retailers and 100,000 square metres of lettable area.

$583 million

The total annual sales at Penrith, NSW, which increased 1% over 2011. The shopping centre has 343 retailers and 92,000 square metres of lettable area.

$577 million

The total annual sales at Booragoon, WA, which increased 1.3% over 2011. The shopping centre has 272 retailers and 72,000 square metres of lettable area.

$563 million

The total annual sales at Mt Gravatt, Queensland, which declined 0.2% over 2011. The shopping centre has 313 retailers and 99,000 square metres of lettable area.

$541 million

The total annual sales at Carousel, WA, which increased 1.4% over 2011. The shopping centre has 294 retailers and 83,000 square metres of lettable area.

$507 million

The total annual sales at Macquarie, NSW, which declined 3.9% over 2011. The shopping centre has 278 retailers and 98,000 square metres of lettable area.

$504 million

The total annual sales at Chatswood, NSW, which declined 2.4% over 2011. The shopping centre has 290 retailers and 77,000 square metres of lettable area.

$478 million

The total annual sales at Belconnen, ACT, which increased 5.5% over 2011. The shopping centre has 282 retailers and 95,000 square metres of lettable area.

$473 million

The total annual sales at Tea Tree Plaza, SA, which increased 1% over 2011. The shopping centre has 257 retailers and 94,000 square metres of lettable area.

$471 million

The total annual sales at Pacific Fair, Queensland, which declined 8% over 2011. The shopping centre has 308 retailers and 104,000 square metres of lettable area.

$469 million

The total annual sales at Tuggerah, NSW, which increased 0.4% over 2011. The shopping centre has 270 retailers and 83,000 square metres of lettable area.

$456 million

The total annual sales at Liverpool, NSW, which increased 0.9% over 2011. The shopping centre has 337 retailers and 84,000 square metres of lettable area.

$455 million

The total annual sales at Kotara, NSW, which declined 10.3% over 2011. The shopping centre has 269 retailers and 69,000 square metres of lettable area.

$440 million

The total annual sales at Whitford City, WA, which declined 1.1% over 2011. The shopping centre has 305 retailers and 78,000 square metres of lettable area.

$419 million

The total annual sales at Karrinyup, WA, which declined 2.1% over 2011. The shopping centre has 219 retailers and 60,000 square metres of lettable area.

$419 million

The total annual sales at Woden, ACT, which declined 1.2% over 2011. The mall has 262 retailers and 72,000 square metres of lettable area.

$405 million

The total annual sales at Burwood, NSW, which increased 10.3% over 2011. The mall has 251 retailers and 64,000 square metres of lettable area.

$398 million

The total annual sales at Hurstville, NSW, which declined 0.4% over 2011. The mall has 261 retailers and 63,000 square metres of lettable area.

$379 million

The total annual sales at Mt Druitt, NSW, which increased 2.5% over 2011. The mall has 243 retailers and 59,000 square metres of lettable area.

$375 million

The total annual sales at Westlakes, SA, which declined 1% over 2011. The mall has 214 retailers and 61,000 square metres of lettable area.

$366 million

The total annual sales at North Lakes, Queensland, which increased 3.8% over 2011. The mall has 217 retailers and 61,000 square metres of lettable area.

$358 million

The total annual sales at Sydney Central Plaza, which decreased 8.3% over 2011. The mall has 95 retailers and 54,000 square metres of lettable area.

$331 million

The total annual sales at Helensvale, Queensland, which increased 2.6% over 2011. The mall has 187 retailers and 45,000 square metres of lettable area.

$294 million

The total annual sales at Plenty Valley, Victoria, which increased 4.4% over 2011. The mall has 180 retailers and 54,000 square metres of lettable area.

$278 million

The total annual sales at Innaloo, WA, which increased 1.2% over 2011. The mall has 171 retailers and 47,000 square metres of lettable area.

 

$277 million

The total annual sales at Geelong, Victoria, which increased 5.2% over 2011. The mall has 188 retailers and 52,000 square metres of lettable area.

$276 million

The total annual sales at Airport West, Victoria, which increased 7% over 2011. The mall has 180 retailers and 53,000 square metres of lettable area

$265 million

The total annual sales at Strathpine, Queensland, which increased 1.1% over 2011. The mall has 162 retailers and 45,000 square metres of lettable area

$224 million

The total annual sales at Warrawong, NSW, which increased 0.7% over 2011. The mall has 143 retailers and 58,000 square metres of lettable area

$171 million

The total annual sales at Figtree, NSW, which increased 1.1% over 2011. The mall has 94 retailers and 22,000 square metres of lettable area

$144 million

The total annual sales at North Rocks, NSW, which increased 0.7% over 2011. The mall has 92 retailers and 23,000 square metres of lettable area

Larry Schlesinger

Larry Schlesinger

Larry Schlesinger was a property writer at Property Observer

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