Interim Results for Scentre Group (SCG)

Scentre has agreed to sell its Figtree, Strathpine, Warrawong centres to affiliates of Blackstone Real Estate Asia and its North Rocks centre to Challenger for a combined total of $783 million, representing a 3.4% premium to the 30 June 2015 book values, with settlement expected to occur in the third quarter. Their comparable specialty sales in the Australian portfolio grew 6.1% and 6.3% in NZ. Net property income was $911.4 million and Comparable property net operating income increased 2.4% and is forecast to increase between 2.0% - 2.5% for 2015. Read our full summary here: (VIEW LINK)