Australian company Westfield has a portfolio of 100 high quality regional shopping centres in Australia, New Zealand, the US and the UK, valued together at over £38.45 billion. In the UK, it directly employs 500 people and has created a further 25,000 new permanent jobs, mostly in the retail sector.
The development of Westfield Stratford City transformed Stratford in East London into one of the best-connected and most desirable areas. During the 2012 Olympics, the shopping centre became the gateway to London’s Olympic Park, with an estimated 70 per cent of spectators passing through the shopping centre on their way to the Games venues.
Westfield has developed a close working relationship with UKTI over the past ten years. During the London Games, Michael Gutman, Managing Director UK, Europe & New Markets at Westfield spoke at the Retail Food and Drink Day held at Lancaster House as part of the British Business Embassy.
The company has since announced a 50/50 joint venture with UK developer Hammerson to invest £1 billion to redevelop the Whitgift and Centrale shopping centres in Croydon, South London.
“We believe that the exposure we have gained at the 2012 Olympic Games will pay huge dividends to our retailers and our shareholders,” says Michael. “These projects have been excellent examples of public and private partnerships. The support we have enjoyed at all levels of government has assisted dramatically in the process.”
Read the full case study detailing how UKTI helped Westfield.
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