SCA Property Group owns a diversified shopping centres portfolio located throughout Australia. The portfolio comprises 96 assets under management (85 wholly-owned convenience-based shopping centres and 11 in SURF funds). As at 1 November 2018, the portfolio is valued at $3,050.4 million (excluding Currambine Central, due to delayed settlement).
SCA Property Group predominantly focuses on convenience retailing through its ownership and management of a quality portfolio of neighbourhood and sub-regional shopping centres and freestanding retail assets. Over time, this asset class has proven to be resilient due to its exposure principally to non-discretionary retail tenants. Convenience-based assets have a strong weighting to food sales through grocery-based anchors such as supermarkets.
SCA Property Group's portfolio benefits from long term leases to both Woolworths Group Limited and Wesfarmers Ltd, which act as anchor tenants at each property. Wesfarmers Ltd is the owner of Coles and other retail businesses. Woolworths and Coles are Australia's largest retailers by sales revenue and number of stores. Woolworths and Wesfarmers are also major liquor, home improvement and petrol retailers.
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SCA Property Group is internally managed. This structure is designed to enable a clear alignment of management interests to those of SCP's unitholders.
SCA Property Group was listed on the Australian Stock Exchange on 26 November 2012 and commenced trading on 19 December 2012 on a normal settlement basis under the ASX code 'SCP'.