Vicinity Centres VCX.ASX

Vicinity Centres is a leading retail property group based in Melbourne, Australia. The group leases, manages and develops retail properties. Operating nationally, the group was established through a merger in 2015 between Novion Property Group and Federation Centres.

As of December 2021, the company has $24bn in retail assets under its management across 61 shopping centres. Vicinity Centres also manages 31 assets on behalf of strategic partners, 28 of which it maintains partial ownership in. The group has 2.5m square metres of gross lettable area as of December 2021. In addition to leasing retail space, the group also provides pop-up retail spaces and offers a range of advertising solutions, including Wi-Fi and online campaigns, digital-screen supersite networks, static and tactile media, and partnerships and sponsorships.

Stock for the company has been listed on the exchange since January 2012. In October 2021, Vicinity Centres announced the acquisition of a 50% stake in Harbour Town Gold Coast, a premium retail centre, anchored by a Woolworths supermarket and Reading Cinemas, in a deal for $358m. Vicinity Centres trades on the Australian Securities Exchange under the ticker VCX.

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