Scentre Group (ASX: SCG) disclosed its Q3 operational update, detailing performance until September 30, 2023, highlighting the company's achievements and developments during the period. According to Scentre Group CEO Elliott Rusanow, their strategy to attract more visitors to their Westfield destinations has significantly boosted the company's performance. This year, they welcomed 410 million customer visits, marking a 7.4% increase compared to the same period in 2022. Over the past 12 months, customer visits have surpassed 500 million.
The initiative to provide more incentives for customers to spend time at Westfield destinations has resulted in continuous growth in business partner sales. On a rolling 12-month basis, total business partner sales reached AU$28.1 billion, showing a 9.8% increase from the previous year. The average leasing spreads were +2.9%, and average specialty rent escalations were +7.6% during the nine months ending 30 September 2023.
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