Media Reports, page-102

I wouldn’t be surprised if URW scraps it’s remaining development pipeline in order to maintain headroom for valuation vulnerabilities at Dec-20.

Chadstone might come across as a “nice” centre but operationally it is exceptional. MAT growth, Spec MAT growth, spec sales per square metre are unbelievable. It literally carries VCX (otherwise uts is right - it has a lot of secondary sub regional malls which are meh). The 50% stake in Chadstone is worth ~50% of VCX’s portfolio so the entire thing is worth close to VCX roughly.

I’d argue that Australia is better placed than Europe & the US.