Here’s the latest publicly reported update on Westfield Sydney.
-ART deal update: In early 2026, Australian Retirement Trust (ART) agreed to acquire about 19.9% of Westfield Sydney from Scentre Group for around AU$864 million, making ART the new joint-venture partner while Scentre retains 80.1%. This transaction is expected to close in early February 2026. This marks a significant change in the ownership and governance of the CBD complex, with Scentre continuing as the property, leasing, and development manager [Shopping Centre News; Inside Retail Australia summarize].[2]
-Development progress: The Westfield Sydney expansion and the adjacent commercial/residential tower development on Market and Castlereagh Streets remain underway, with continued openings of new luxury brands and upgraded amenities anticipated through 2025–2026. The broader redevelopment includes dining, lifestyle, and entertainment components, building on the CBD footprint [Scentre Group operating update; 2024 full-year results summary].[1][3]
-Foot traffic and performance context: The Westfield Sydney project is part of Scentre Group’s larger $4 billion development pipeline, emphasizing repurposing space and upgrading experiences across its centers, with Westfield Sydney positioned as a flagship destination in the CBD [Scentre Group 2024/2025 updates].[3][5]
If you’d like, I can pull the most recent press releases or provide a brief timeline of key milestones for the Westfield Sydney expansion and ART deal with exact dates. I can also summarize the potential implications for shoppers, tenants, and investors.
Sources
Westfield Sydney is a world-class shopping and dining destination in the heart of Sydney city centre. Home to over 280 stores, dining precincts and
www.sydney.comThe owner of Westfield-branded shopping malls in Australia, Scentre Group, announced on Thursday the sale of three city-center towers in Sydney for A$1.52 billion ($1.06 billion) and an A$800 million share buyback.
ww.fashionnetwork.comScentre Group has released its latest operating update, highlighting steady growth in foot traffic, sales, and occupancy across its Westfield destinations in Australia and New Zealand. CEO Elliott Rusanow attributed the year’s success to increased visitor numbers and robust demand from retail partners. In the first nine months of 2024, customer visits rose by 2.1% [...]
www.shoppingcentrenews.com.auAustralian Retirement Trust (ART) is buying a 19.9 per cent interest in Westfield Sydney for $864 million, making it the new joint venture partner at the shopping centre.
shoppingcentrenews.com.auThe Group continues to progress its $4 billion pipeline of future development opportunities. The Group is focused on repurposing space. During the year the Group completed works at Westfield Tea Tree Plaza in Adelaide and Westfield Mt Gravatt in Brisbane with visitation up 8.6% and 6.7% respectively since opening. The Group also commenced projects at Westfield Southland in Melbourne and Westfield Burwood in Sydney. Works began on the staged development of Westfield Bondi in Sydney, introducing...
www.scentregroup.comWorks have progressed on the staged redevelopment of Westfield Bondi in Sydney where the new Virgin Active lifestyle fitness offer and new rebel rCX concept store on Level 1 will open in June 2025. The expansion of Westfield Sydney on the corner of Market and Castlereagh Streets in Sydney’s CBD continues, with new luxury brands to progressively open from May 2025.
www.scentregroup.comWestfield Sydney - your one-stop hub for shopping, fun & relaxation. Shop our range of fashion, entertainment, dining & wellbeing or check out great events & activities.
www.westfield.com.auMake the most of every visit. Download the Westfield app now to unlock your member benefits.
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