Centro Properties Group

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Centro Properties Group Limited (ASX: CNP) is an Australian company (also known as an Australian Stock Exchange listed stapled entity) that is a property investor and manager mainly in shopping centres in Australia, New Zealand and the United States. The entity combines Centro Properties Limited and Centro Property Trust. Eighty two per cent of its net income comes from retail property ownership. As at March 2006, it has a $5.5 billion market capitalisation which makes it one of the Top 100 companies listed on the Australian Stock Exchange. In 1993, it had a market capitalisation of just over $90 million.Its operating profit in the FY ending June 30, 2005 was $253.4 million.

Centro is the 9th largest owner managers of shopping centres in the United States and the second largest owner managers in Australia. Centro is the major landlord to Australia's two largest retailers Coles and Woolworths.


Contents

[edit] Stock Return Information

Centro has for many years been the best performing property group listed on the Australian Stock Exchange. Shareholder returns have exceeded its peers over the past 10 years;


Annual Returns for the period to 30 November

1 Year - 58.3% 3 Years - 46.7% 5 Years - 33.3% 10 Years - 25.4%


As at June 30, 2005, Centro owned and managed 224 properties with total funds under management of $9.1 billion. It is the leading arranger of property syndicates in Australia, which enable investors to invest in property assets that are managed by Centro. In 2005 alone it raised $175 million of equity in three new syndicates over a capital raising period on average just over two months. It has 17,000 separate investors. The company receives income for managing the assets of managed funds and success fees for the management of syndicates. It describes its approach as "cemented co-investment." It generally invests its own equity (between 25% and 50%) in the property managed funds it administers which it says ensures an alignment of its interests with those of co-investors. Eighteen per cent of its net income is generated by profits of funds management activities of this kind. It has been a popular pursuit for large property development and investment businesses to pursue what are seen as lowest risk income of this kind rather the more speculative but larger potential profits associated with development.

[edit] Properties

Its largest properties are Centro Galleria in Perth and Centro The Glen in Melbourne. Most of its other assets are regionally based shopping centres, most often anchored by major lease deals with Woolworths Limited with which it has a strong relationship. It has over five hundred staff in Australia.

In the United States, Centro is the 9th largest owner and manager of retail space with $10 billion property under management. Its US operations are based primarily in Philadelphia, Pennsylvania and Los Angeles, California. Centro has over 250 staff in the US concerned with acquisition, new development, marketing and leasing.

The company's Chief Executive Officer is Andrew Scott, a former Coles Myer Property Managing Director. Andrew Scott Is widely considered to be one of the most dynamic and successful CEO's of any major company listed in Australia. The Chief Operating Officer Graham Terry is also from Coles Myer Property and the Chief Financial Officer Romano Nenna is formerly the Head of Tax at Coles Myer.

Centro Properties is a widely held company with significant investment from Australian financial institutions.

[edit] Locations

This list is incomplete; you can help by expanding it.

[edit] Australia

[edit] Victoria

[edit] Queensland

[edit] Western Australia

  • Centro Galleria (Morley)
  • Centro Altone Park
  • Halls Head
  • Centro Innaloo
  • Centro Kalamunda
  • Karratha
  • Centro Maddington
  • Centro Mandurah
  • Centro Victoria Park
  • Centro Warwick
  • Dianella Plaza
  • Flienders Square
  • Melville Plaza
  • Northgate Shopping Centre
  • Stirlings Centre

[edit] New South Wales

[edit] Australian Capital Territory

[edit] South Australia

[edit] Tasmania

  • Centro Launceston
  • Centro Meadow Mews
  • Centro Burnie
  • Centro Cat & Fidddle Arcade
  • Centro Glenorchy
  • Centro New Town
  • Centro Elizabeth Plaza

[edit] See also

[edit] External links

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