Vicinity Centres Well Placed for a Tougher Retail Environment and Rising Interest Expenses
Vicinity Centres’ portfolio includes a wide variety of Australian retail property assets. Its largest asset is 50% ownership of Chadstone in Melbourne, which represents about AUD 3 billion of the AUD 15 billion portfolio at the end of June 2024. Central business district assets make up about 15% of the portfolio, including Sydney’s Queen Victoria Building, Strand Arcade, The Galleries, Brisbane’s QueensPlaza and Uptown, and Melbourne’s Myer Bourke Street and Emporium. Vicinity also owns factory outlet centers and suburban and country shopping centers, such as Carlingford and Warriewood in Sydney, Buranda and Gympie in Queensland, Mornington and Broadmeadows in Melbourne, and WA centers in Karratha, Mandurah, and Rockingham.
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