Shopping Centres Australasia (ASX:SCA) units had a strong year, rising to $1.90

Shopping Centres Australasia (ASX:SCA) units had a strong year, rising to $1.90. But in the recent correction they have fallen back to $1.70, which has given yield investors a good opportunity to lock in a 6.6 per cent unfranked yield and gain exposure to relatively stable non-discretionary retail. SCA's properties have been performing well with 8.4 per cent average sales growth, which is better than peers and helped it generated a solid full-year profit of $111.6 million. But the company has received a boost from Woolies which ends soon. When SCA was spun out, Woolies provided a two-year rental guarantee to cover higher vacancy rates at the shopping centres' specialty stores - things like takeaways, fashion and chemists - which now make up 37 per cent of tenants. Read more: (VIEW LINK)