Scentre Group brings new partner into Westfield Sydney in $864m deal

Scentre Group has sold a 19.9% stake in Westfield Sydney to Australian Retirement Trust for $864 million, highlighting its capital partnership strategy.

Laura Stewart

Author bio Laura Stewart is a Finance Editor at The Motley Fool, where she covers Australian and international equity markets. She joined the company in 2022, following a career transition from legal advisory work in Southeast Asia into the investment industry. Prior to her current editorial role, Laura spent three years as an Equity Analyst and Writer, producing investment research across the ASX, NYSE, and NASDAQ. Her coverage included small-cap growth companies, thematic investment ideas, and high-quality U.S.-listed businesses. Laura holds a Master of Applied Finance and brings additional expertise in accounting, taxation, and estate and wealth planning from her postgraduate studies. She also has a background in law and communications, which supports her analytical and reporting work in financial markets. Outside of work, she enjoys spending time in the Adelaide Hills with her flock of sheep. Education Laura holds a Bachelor of Laws, a Bachelor of Communication (Journalism), and a Bachelor of Commerce with majors in Accounting and Corporate Finance. In 2025, she completed a Master of Applied Finance at the University of Adelaide, receiving postgraduate awards in Accounting Concepts & Methods, Ethical Principles in Accounting & Finance, Real Estate Valuation & Investment, and Tax, Estate & Wealth Planning. Social media LinkedIn FYI – I am taking a break from social media at the moment, so this account isn’t active at the moment, but I will let you know when I rejoin. Favorite investment quote "Compound interest is the eighth wonder of the world. He who understands it, earns it... he who doesn't... pays it." — Albert Einstein

Published December 23, 2025 3:11 pm AEDT

The Scentre Group Ltd (ASX: SCG) share price is in focus after the company announced Australian Retirement Trust (ART) will acquire a 19.9% stake in Westfield Sydney for $864 million. Scentre will retain an 80.1% interest and remain property, leasing, and development manager.

Businesswoman holds hand out to shake. — Image source: Getty Images

What did Scentre Group report?

ART to acquire 19.9% of Westfield Sydney for $864 million
Transaction price reflects June 2025 book value and a 4.69% capitalisation rate
Scentre retains 80.1% ownership post-transaction
Westfield Sydney drew over 33 million customers and generated $1.1 billion in sales during 2024
Settlement of the transaction is expected in early February 2026

What else do investors need to know?

This deal follows Scentre Group's recent move to jointly venture 50% of Westfield Chermside in Brisbane with Dexus funds, signalling the group's strategy to introduce fresh third-party capital. Scentre has now announced approximately $2.2 billion in new capital through joint ventures during 2025.

Including previous sales of Westfield Sydney's office towers, Scentre Group has now realised about $2.4 billion in total value from the precinct. The company's remaining 80.1% share of Westfield Sydney is now valued at $3.5 billion, almost four times its capital investment since acquiring the asset.

What did Scentre Group management say?

Scentre Group CEO Elliott Rusanow said:

We are very pleased to establish a new strategic partnership with Australian Retirement Trust. Westfield Sydney is an iconic destination located in the heart of Sydney's CBD, visited by more than 33 million customers each year and generating total business partner sales in excess of $1.1 billion… Introducing new capital, through joint venturing our assets, forms a key part of our long-term strategic plan.

What's next for Scentre Group?

Scentre Group is focused on executing its long-term strategy of partnering on its key destinations to unlock value and introduce new capital. Management expects settlement of the ART transaction in early February 2026, while the group continues managing and developing its 42 Westfield destinations.

The company's plan remains centred on creating attractive, vibrant places for both customers and business partners, while aiming to grow returns for securityholders through innovative partnerships and ongoing development.

Scentre Group share price snapshot

Over the past 12 months, Scentre Group shares have risen 21%, outperforming the S&P/ASX 200 Index (ASX: XJO) which has risen 7% over the same period.

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