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Westfield Stratford City visits surpass 6.5m


More than 6.5 million people have visited the Westfield Stratford City shopping centre in east London since it opened on September 13th, according to a statement released by the property’s parent company today.

Real estate group Westfield said this afternoon that after welcoming one million people through the centre’s doors in the first week – a record for any of its global properties – high footfall has been maintained.

It was also announced last week that Westfield had agreed a deal with Sony Music, which will see content from the entertainment specialist displayed on LCD video walls at the retail property group’s London sites.

Thanks to the innovative east London retail hub and other strong-performing assets in its property portfolio, Westfield expects to deliver its forecast earnings and distribution for the year, with full-year forecast for funds from operations at 64-65 cents per security, distribution per security of 48.4 cents and operational segment earnings of 74.6 cents per security.

Westfield is also planning to commence more than $750 million (£482 million) of new projects in 2011 and $1.25 billion to $1.5 billion of new projects in 2012 and 2013 respectively.

Co-CEOs of the group, Peter Lowy and Steven Lowy, commented: “This was an exciting and active quarter for Westfield, with the immensely successful opening of our Stratford City project adjacent to the site of the London 2012 Olympics, together with concluding the £1.75 billion joint venture of the centre.

“We are very proud of what we have achieved at Stratford City. This world class shopping centre was delivered on time, on budget and over 95 per cent leased at opening.”

Published on Tuesday 08 November by Editorial Assistant

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