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Westfield rental incomes jump

Developer Unibail-Rodamco-Westfield, owner of the Westfield shopping centres, has reported a 32% rise in global net rental income to €2.16bn (£1.89bn) for the year to 31 December 2018.

The growth was driven by a 36.9% rise in net incomes from shopping centres to €1.91bn (£1.67bn). Like-for-like rental incomes rose by 4% globally. 

The total valuation of its portfolio is €65.2bn (£57.17bn). The results are the first since Unibail-Rodamco merged with Westfield in June last year.

The announcement follows reports this week that construction at Westfield in Croydon is unlikely to start this year, despite promises work would start in September.

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