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Westfield Australian Malt
SHOPPING MALL RENT COMPARISON - AUSTRALIA v USA
These figures reveal a national scandal of the highest order, punishing every Australian family. Rent is cost of doing business, high shopping mall rents in
Australia add to the cost of all goods, increasing inflation and putting upwards pressure on interest rates. If any other business costs was this much out
alignment in Australia with our major trading partner, the Government would urgently intervene to resources to the normal forces of the free market. Urgent
action is required to repair the dysfunctional market of retail leasing that has evolved in Australia.

CATEGORY	Total Rent	Sales
Median	Median
A$ p/m2	A$ p/m2	Rent/Sales
Percentage	Total Rent	Sales
Median	Median
A$ p/m2 A$ p/m2	Rent/Sales
Percentage	Rent	Sales
Average Average
A$ p/m2 A$ p/m2	Rent/Sales
Percentage	
FASHION							$1,195	$6,919	17.3%	
Lingerie	$356	$6,418	55%	$256	$6,368	4.6				
Mixed Apparel	$398	$5,331	7.5	$313	$4,763	6.6%				
Jeans	n/a	n/a	n/a	$349	$4,846	7.2%				
Women's Speciality	$562	$6938	8.1%	$464	$5,678	8.2%				
Women's Ready to Wear	$391	$4,067	9.6%	$327	$4,238	7.7%				
Men's Wear	$356	$3972	9.0%	$320	$4,462	7.2%				
Children's Wear	$446	$4849	92%	$364	$4,535	8.0				
FOOTWEAR							$1,268	$7,411	17.1%	
Athletic Footwear	$427	$4,846	8.8%	$341	$4,683	7. %				
Family Shoes	$459	$4,603	100%	$292	$4,057	7.2%				
hildren's Shoes	$525	$5,775	91%	n/a	n/a					
Women's Shoes	$598	$5,492	109%	$782	$5939	13.2%				
Men's Shoes	$854	$7,444	115%	n/a	n/a					
										
JEWELLERY	$1174	$13,481	87%	$821	$14,958 1	5.5	$2,088	$13,753	15.2%	
										
HOME WARES										
Furniture	$431	$5,869	7.3	$271	$4,208	65%				
Home Accessories	$384	$4032	9.5	$246	$2,747	89%				
Kitchen Store	$430	$6116	7.0%	n/a	n/a					
Candle Shop	$534	$5,304	101%	n/a	n/a					
Art Gallery	$569	$4,797	11.9	n/a	n1a					
										
OTHER										
Recordings (CD,DVD)	$356	$4,428	B0/	$390	$3,934	99%				
Computer/Software	$782	$14,425	5.4/6	n/a	n/a					
Electronics	$441	$8193	5.4%	$331	$4,994	6 %				
Camera's	$498	$6685	74%	n/a	n/a					
Game Store	$640	$9691	66/	$832	$14,299	58%				
Sports Goods	$341	$3,846	89%	$185	$2,768	6 %				
Hobby	$455	$5,113	8.9%	$180	$1,803	10.0%				
Toys	$341	$3,267	10.5%	$242	$2,952	8 %				
Science Nature	$455	$4900	9 %	n/a	n/a	n/				
Cards & Gifts	$427	$3,436	124%	$271	$2,610	10 4%				
Books	$320	$3,752	8. o	$267	$4,338	6.2%				
Pet Shop	$378	$5,593	6. %	n/a	n/a					
										
RETAIL SERVICES							$1,326	$7,014	18.9%	
Unisex Hair	$486	$4,524	10.7%	$307	$3,464	8.9%				
Women's Hair	$498	$3,484	14.3%	$363	$3,873	9.4%				
Eyeglasses - Optician	$441	$5,200	8.5%	$277	$3,686	7.5%				
Cosmetics Beauty	$726	$7,406	9.8%	$552	$6,250	8 %				
										
FOOD SERVICE							$1,674	$9,124	18.3%	
Restaurant w/o liquor	$398	$5694	7. %	$292	$5,188	5. %				
Restauran w liquor	$341	$6,291	5.4%	$344	$5,721	6.0%				
Cafeteria	$721	$9,551	7.5%	$456	$8612	5.3%				
Doughnut Muffin shop	$953	$8,800	10.8%	n/a	n/a	a				
Bakery	$1,081	$8,153	13.3%	$413	$4,765	8.7%				
Sandwich shop	$902	$8,811	10,2%	$519	$5,608	9.3%				
Hamburgers	$706	$11,330	6.2%	$703	$7,010	10.0%				
Coffee/Tea	$757	$5,780	13.1%	$465	$5,033					
Drinks/Juice	$1,097	$7,340	14.9%	$711	$13,358	5.3				
Ice Cream Parlour	$1,175	$8,801	13.3%	$736	$6,343	1161/6				
Chinese Fast Food	$1,406	$9,434	14.9%	$736	$6,643	11.1%				
Japanese Fast Food	$1,446	$9,435	15.3%	n/a	n/a					
Italian Fast Food	$1 039	$7,267	14.3%	n/a	n/a					
Sources : US Data - "The Dollars & Cents of Shopping Centred The Scare 2006". Australian Data : "Westfield Leasing Fact sheet as at 30th June 2005" Notes : US Figures converted from "Square feet" to 'Square Meters" at 1m3 =10.67 sq ft US$ converted to AS at .51.00 = USS0.75
" Westfield Average Rents calculated allowing for 5140 per m2 outgoings
Controversy surrounds the Westfield rent/sales averages due to the treatment of the GST. Anecdotal evidence supports these ratios are actually higher
Shops in Aust. malls are traditionally smaller in size and therefore have greater staffing cost per m2 than US malls, indicating that rent/sales should be lower in Australia
US Super Regional Malls are defined as offering an extensive range of general merchandise, apparel, furniture and home furnishings, as well as variety of services and recreational facilities. It is built around 3 or more full line department stores. Typical size is around 100,000 m2 of gross leaseable space
US Regional Malls are defined as offering an extensive range of general merchandise, apparel,and home furnishings in depth and variety well as variety of services and recreational facilities. It is built around one or two full line department stores. Typical size is around 50,000 m2, although it may range from 25,500m2 to 90,000m2.