My point was Westfield do have very up market and completely different Centers to Centro. They have very up market shops and franchises and high priced for high rents for high salary customers.
Centro have very normal well placed shopping centers with long term essential stores that everyone needs to visit every week as a matter of course.
In tough times when money is tight, interest rates through the roof, fuel sucking up more of the budget. more affluent people tighten their belts and stop spending throw away money.... Fact.
People who come from a different demographic who are generally blue collar workers and don't have money keep spending it hand over fist.
Now I know what shopping centers I would rather be a part owner in.
By the way when this credit problem globally is over and Centro sort out their gearing the properties in the US will be the backbone of Centro.
CNP Price at posting:
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