Property owner CFS Retail Trust has witnessed steady retail sales growth across its portfolio of Australian shopping centres.

While its department stores suffered a 10 per cent decline in sales contribution, it saw specialty contribution increase by 5.1 per cent in comparable sales during the past six months to 30 June 2011.

“In light of the negative market sentiment surrounding retail sales, we believe that it is important to release the Trust’s headline sales numbers ahead of the annual results announcement,” Darren Steinberg, managing director of Property for Colonial First State Global Asset Management, said.

“We believe that quality shopping centres, particularly quality regional shopping centres, are picking up a greater market share of retail sales.”

Steinberg highlighted that the success has been particularly noticed in redeveloped CFX portfolio like Chatswood Chase Sydney, Chadstone, Northland and Rockingham shopping centres.

The company experience a 2.2 per cent growth in overall sales for the six month period to June 30, which is up from -1 per cent results reported in the six month to 31 December 2010.