Reversion in specialty rents to market rates is a key revenue catalyst, but will take time.
Many of Australia’s apparel retailers have been reporting sluggish to falling sales over the past six to 12 months. On top of this, a growing list of apparel retailers have encountered financial stress, the most recent being Top Shop Australia that has called in the administrators. For most listed retail landlords, this is a definite negative as a high proportion of their rental receipts are derived from specialty retailers. However, we think Shopping Centres Australasia Property Group, or SCA P...Shopping Centres Australasia Property Group is an internally managed real estate investment trust. Co. is comprised of Shopping Centres Australasia Property Group Re Limited, the responsible entity to the Shopping Centres Australasia Property Management Trust and Shopping Centres Australasia Property Retail Trust. The units of each Trust are stapled together to form a stapled listed vehicle. Co. owns and manages a portfolio of sub-regional and neighbourhood shopping centres and freestanding retail assets. Co.'s portfolio is focused on convenience retailing. As of June 30 2016, Co. had a total of 83 operating properties, including 69 in Australia and 14 in New Zealand.
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