The shopping centre goliath posted its results for the first half of the year up to July 31, which showed that like-for-like rental income decreased by 3.1%.
The landlord conglomerate, now Unibail-Rodamco-Westfield, put this slide in income across UK schemes to its vacancies number which stood at 8.7% due to “non-renewals, the impact of retailer bankruptcies and the delays in leasing at Westfield London” due to Brexit uncertainty deterring new tenants from entering the market.
Westfield reported a 6.4% increase in footfall across UK shopping centres in the first half of the year, which outperformed the wider sector by 770 bps.
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