Doubts over the value of shopping centres sent shares in Europe’s largest property company, Unibail-Rodamco-Westfield, lower even though it reported an increase in the worth of its portfolio and higher rental income.
The Paris-headquartered group, which owns 104 shopping centres across 13 countries, reported a 0.6% rise in the underlying value of its portfolio to €63.7bn, in its first set of interim results since its acquisition of Westfield completed in June.
Rental income in continental Europe grew 4.3% on a like-for-like basis.
