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Westfield London Westfield London Constructing Excellence 3 July 2013 Westfield Group The Westfield Group is an internally managed, vertically integrated, shopping centre group undertaking ownership, development, design, construction, funds/asset management, property management, leasing and marketing activities and employing approximately 4,000 staff worldwide. The Westfield Group has interests in and operates one of the world’s largest shopping centre portfolios with investment interests in 118 shopping centres across Australia, the United States, the United Kingdom, New Zealand and Brazil, encompassing approximately 24,300 retail outlets across 10.6m sq m (114m sq ft) of retail space and total assets under management of £42bn. Stratford City London Westfield is a long-term investor with investment interests in 100 shopping centres across Australia, the United States, New Zealand, Brazil and the United Kingdom In the UK, Westfield owns and manages a number of operational shopping centres including Westfield London, Stratford City and now Croydon San Francisco Bondi Junction Sydney City Introducing Westfield Overview / Key Facts • Aspiration : Best of the West End • 43 acres; Gross Area: 1.85m sqft (171,869 sqm) • Mixed Use: Retail, Offices, Leisure, Housing, Community Services • 3 miles from Marble Arch and 10 minutes on the underground • 25 minute drive from Heathrow airport • £1.7bn development • Over 300 retail, leisure and lifestyle stores; over 700 brands • Over 60 places to dine • All-digital 17 screen, all-digital, 3D state of the art cinema • Connectivity: 4 tube stations, 2 bus stations, overground train station • 4,500 car parking spaces • Premium Services • The Village: 40 Luxury Brands • 28m visits and close to £1bn in sales Agenda • Westfield’s overall challenge to understand and meet its users’ facilities needs. • Westfield’s approach to ensure its internal and external teams of designers, constructors and suppliers are absolutely focused on those needs. • How the asset’s operational performance is monitored. • How internal/external teams are rewarded/penalized as user needs are met (or indeed not) Westfield’s overall challenge to understand and meet its users’ facilities needs. • Provide the retailer with what they want and meet the end users needs. • Creating the most desirable environment for our retailers and customers alike. • Maintain consistent dialogue with our retailers through forums, 1-2-1’s, retailer visits, tenant events / activities / training. • Providing the right facilities for our tenants - storage, meeting rooms • Provide mixed use amenities – Retail, leisure, food, housing, business etc. Westfield’s approach to ensure its internal and external teams of designers, constructors and suppliers are absolutely focused on those needs. • It is important to note that as mentioned earlier that we are an internally managed, vertically integrated, shopping centre group undertaking ownership, development, design, construction, funds/asset management, property management, leasing and marketing activities. • We are held to account by our JV partners • Learning from our mistakes • The end product & longevity, build in future proofing which is imbued into our external suppliers through repeat business opportunities. How the asset’s operational performance is monitored. • Through KPI’s and metrics • Rent, Turnover Rent, Footfall and Financial KPI’s i.e. NOI • Physical Performance – engineering, heating, lighting, environment • Failure is not an option – risk of H&S issue, reputational issue, insurance claims. • Community relationships • Exit Surveys / Demographic review • The overall impression to the customer – it only takes one thing – a damaged tile, mildew in a toilet, a broken piece of glazing etc. • Through active Centre Management How internal/external teams are rewarded/penalized as user needs are met (or indeed not) • Teams that do well are well rewarded • Reputation increased • Failure would reduce or end repeat business • Regular tender processes across major contracts • Contractors measures on SLA’s, KPI’s regular reviews, constant feedback. • Hardline on H&S, Legal • Positive working relationships Proposed Extension Westfield London present day – looking east towards Central London Westfield London - Phase 2 complete End.
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