Westfield’s new shopping centre in east London, Stratford City, will open in September 2011, the developer has revealed.
The £1.45bn centre, situated next to the Olympic site, will cover 1.9 million sq ft, making it the largest urban shopping centre in Europe.
In its half year results statement, the Australian developer revealed that “project delivery is well on track” and that 70% of space is now “leased or committed as the leasing strategy continues to gain momentum”.
Westfield said in the six months to June 30 the UK experienced “improving performances”. It said the UK portfolio, which includes Westfield London and seven other shopping centres, was 98.8% leased at the end of June 2010.
Westfield London is performing “exceptionally well” according to the developer, with total sales in the period up 23.7% and up 16.8% on a comparable basis. Westfield added this “sales momentum at has continued into July”.
For the year Westfield London is expected to generate sales in excess of £800m.