• Scentre Group has formed a new joint venture (JV) partnership for Westfield Chermside in Brisbane
• The new JV partner is a leading global real estate investor
• The transaction will strengthen Scentre Group's balance sheet and provide capital for future growth

Scentre Group, the owner and operator of Westfield shopping centres in Australia and New Zealand, has announced a new joint venture (JV) partnership for its Westfield Chermside shopping centre in Brisbane, Queensland. The new JV partner is a leading global real estate investor, and the transaction will see Scentre Group retain a majority stake in the asset. The partnership will strengthen Scentre Group's balance sheet and provide additional capital to support the company's future growth and development plans. Westfield Chermside is one of Scentre Group's flagship assets, located in a prime retail and commercial precinct in Brisbane. The new JV arrangement will allow Scentre Group to leverage the expertise and resources of its new partner to enhance the shopping centre's performance and customer experience. The transaction is subject to customary closing conditions and is expected to be completed in the coming months.