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VICINITY CENTRES TRUST — Annual Report 2022
Aug 16, 2022
65995_rns_2022-08-16_70b6aa3e-2238-4ae2-a935-6a615c044e02.pdf
Annual Report
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DIRECT PORTFOLIO PROPERTY BOOK 2022 ANNUAL RESULTS
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Our destinations play an essential role in their communities, providing a wide range of non-discretionary and discretionary retail, dining, leisure, entertainment and services that deliver engaging experiences for our consumers.
AUTHORISATION
Mr Grant Kelley, CEO and Managing Director, has authorised that this document be given to ASX. DISCLAIMER
This document includes information regarding the past performance of Vicinity Centres' property portfolio. Past performance of the property portfolio should not be relied upon as being indicative of future performance. It is information in a summary form and does not purport to be complete. It is to be read in conjunction with the 2022 Annual Report lodged with the Australian Securities Exchange on 17 August 2022.
This document contains forward-looking statements, including statements, indications and guidance regarding future performance. The forward-looking statements are based on information available to Vicinity Centres as at the date of this document (17 August 2022). These forward-looking statements are not guarantees or predictions of future results or performance expressed or implied by the forward-looking statements and involve known and unknown risks, uncertainties, assumptions and other factors, many of which are beyond the control of Vicinity Centres. The actual results of Vicinity Centres may differ materially from those expressed or implied by these forward-looking Statements, and you should not place undue reliance on such forward-looking statements. Except as required by law or regulation (including the ASX Listing Rules), we do not undertake to update these forward-looking statements.
Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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ABOUT VICINITY CENTRES
WE REIMAGINE DESTINATIONS OF THE FUTURE, WHERE PEOPLE LOVE TO CONNECT.
Vicinity Centres (Vicinity, ASX:VCX) is a leading Australian retail property group with a fully integrated asset management platform.
A top-100 entity on the Australian Securities Exchange, Vicinity has 60[1] assets under management around Australia, valued at $23.7 billion across approximately 2.5 million square metres of gross lettable area.
Vicinity’s directly-owned portfolio (Direct Portfolio) of 59 shopping centres is valued at $14.5 billion, just over half of which comprises Vicinity’s Flagship portfolio, which includes Chadstone, Australia’s number one shopping centre by retail sales[2] , seven premium CBD centres located across Australia’s three largest cities, and Australia’s leading outlet centre portfolio.
Vicinity continues to progress implementation of energy, water and carbon reduction programs to improve the environmental efficiency of our shopping centres, as we work towards meeting our target of Net Zero carbon emissions[3] by 2030. Vicinity is the Oceania Sector Leader and Number 3 Globally in the Listed Retail Shopping Centre category by Global Real Estate Sustainability Benchmark[4] , is ranked fifth most sustainable real estate company globally in the Dow Jones Sustainability Index (DJSI) and has a 4.6 Star[5] Portfolio NABERS Energy rating and a 4 Star Green Star – Performance Portfolio Rating.
CONTENTS
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|About Vicinity Centres|03|
|Direct Portfolio|04|
|Asset summaries|06|
|New South Wales (NSW)|09|
|Queensland (QLD)|23|
|South Australia (SA)|34|
|Tasmania (TAS)|40|
|Victoria (VIC)|44|
|Western Australia (WA)|66|
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Launched second Innovate Cover image: Emporium Melbourne, VIC Reconciliation Action Plan This page: The Galeries, NSW in July 2022
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Includes Midland Gate, WA, which Vicinity manages on behalf of fund management clients.
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Reported in the Big Guns 2020 survey.
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For our wholly-owned retail assets. Consistent with GHG Protocol, this applies to common mall areas.
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GRESB includes listed and unlisted funds. 5. NABERS Sustainable Portfolio Index 2022, based on Vicinity's ownership interest and 2021 rating as at December 2021 with 100% of rateable portfolio coverage, December 2020 rating has 91% of rateable portfolio coverage.
Vicinity Centres Direct Portfolio Property Book 2022 Annual Results 3
DIRECT PORTFOLIO
#5 GLOBALLY
OF REAL ESTATE COMPANIES IN DJSI[1]
Key statistics by centre type
SECTOR LEADER
OCEANIA LISTED RETAIL SHOPPING CENTRE BY GRESB[2]
NET ZERO
CARBON TARGET BY 2030[3]
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|---|---|---|---|---|---|---|---|
|Total|Premium|Outlet|
|portfolio|Chadstone|CBDs|Centres|[5]|Core|
|Number of retail assets|59|1|7|8|43|
|Gross lettable area|2,422|234|222|286|1,681|
|(000’s) (sqm)|
|Total value|[6]|($m)|14,524|3,138|2,001|2,265|7,122|
|Portfolio weighting|100|22|14|16|49|
|by value (%)|
|Capitalisation rate|5.30|3.88|4.94|5.54|5.96|
|(weighted average) (%)|
|Occupancy rate (%)|98.3|99.5|96.1|98.4|98.4|
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COMMUNITY PARTNER
Composition by centre type[7]
$300M GREEN BOND
LAUNCHED INAUGURAL GREEN BOND WITH $300M ISSUANCE
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|---|---|
|Super Regional|22%|
|City Centre|14%|
|Major Regional|17%|
|Regional|12%|
|Sub Regional|19%|
|Neighbourhood|1%|
|Outlet Centre|16%|
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4.6 STARS
NABERS ENERGY RATING (DEC 20: 4.4 STARS)[4]
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Dow Jones Sustainability Index. 2. Global Real Estate Sustainability Benchmark which includes listed and unlisted funds.
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For our wholly-owned retail assets. Consistent with GHG Protocol, this applies to common mall areas.
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NABERS Sustainable Portfolio Index 2022, based on Vicinity's ownership interest and 2021 rating as at December 2021 with 100% of rateable portfolio coverage, December 2020 rating has 91% of rateable portfolio coverage.
Note: Totals may not sum due to rounding.
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Includes DFO Brisbane business and Harbour Town Premium Outlets Gold Coast.
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Reflects ownership share in investment properties and equity-accounted investments. 7. Expressed by ownership value.
Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
4
DIRECT PORTFOLIO[1]
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SHOPPING CENTRES TOTAL VALUE [2] GROSS LETTABLE AREA
59 $14.5 2.4
billion million sqm
WHITSUNDAY PLAZA
KARRATHA CITY ● BURANDA VILLAGE
● DFO BRISBANE
12 � ● GRAND PLAZAQUEENSPLAZA
● TAIGUM SQUARE
QLD THE MYER CENTRE BRISBANE
11 � 9
WA 12 GYMPIE CENTRAL
BRISBANE
5 �
HARBOUR TOWN PREMIUM OUTLETS GOLD COAST
SA 4 20 �
ARMIDALE CENTRAL
NSW 12
PERTH
MANDURAH FORUM ●
HALLS HEAD CENTRAL ● LAKE HAVEN CENTRE
SYDNEY
ADELAIDE
● CASTLE PLAZA
COLONNADES BANKSTOWN CENTRAL
DFO PERTH ● ELIZABETH CITY CENTRE CARLINGFORD COURT
●● DIANELLA PLAZAELLENBROOK CENTRALGALLERIA ● KURRALTA CENTRAL VIC 20 51 � ●● CHATSWOOD CHASE SYDNEYDFO HOMEBUSHNEPEAN VILLAGE
●● LIVINGSTON MARKETPLACEMADDINGTON CENTRAL MELBOURNE QUEEN VICTORIA BUILDINGROSELANDS
ROCKINGHAM CENTRE THE GALERIES
● VICTORIA PARK CENTRAL 2 � THE STRAND ARCADE
● WARWICK GROVE ● ALTONA GATE DFO UNI HILL WARRIEWOOD SQUARE
● BAYSIDE EMPORIUM MELBOURNE
● BOX HILL CENTRAL NORTH MORNINGTON CENTRAL
● BOX HILL CENTRAL SOUTH MYER BOURKE STREET TAS
● BROADMEADOWS CENTRAL NORTHLAND 2
CHADSTONE ● OAKLEIGH CENTRAL
CRANBOURNE PARK ● ROXBURGH VILLAGE
● DFO ESSENDON SUNSHINE MARKETPLACE
Note: Totals may not sum due to rounding. ● DFO MOORABBIN THE GLEN HOBART
l Wholly-owned ● DFO SOUTH WHARF VICTORIA GARDENS SHOPPING CENTRE
¢ Jointly-owned ● EASTLANDS
£ [Number of shopping centres] ● NORTHGATE
% Portfolio value (%)
1. Vicinity's directly-owned portfolio (Direct Portfolio).
2. Vicinity's ownership interest.
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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ASSET SUMMARIES
| Ownership | Gross lettable | Occupancy | Value | Net revaluation | Capitalisation rate | Capitalisation rate | Discount rate | Page | |||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Centre type | interest | area (GLA) | rate by GLA | 30-Jun-221 | **movement1 ** | 30-Jun-22 | 31-Dec-21 | Movement | 30-Jun-22 | number | |
| (%) | (sqm) | (%) | ($m) | ($m) | (%) | (%) | (%) | ||||
| New South Wales Armidale Central2 |
Sub Regional | 100 | 14,742 | n.a. | 36.6 | 0.1 | 6.75 | 6.75 | - | 7.00 | 9 11 |
| Bankstown Central2 | Major Regional | 50 | 78,770 | n.a. | 260.0 | (9.3) | 5.75 | 5.75 | - | 6.50 | 12 |
| Carlingford Court | Sub Regional | 50 | 33,298 | 98.9 | 111.3 | 8.5 | 5.50 | 6.00 | (0.50) | 6.50 | 13 |
| Chatswood Chase Sydney2 | Major Regional | 51 | 64,350 | n.a. | 410.5 | (15.3) | 5.00 | 5.00 | - | 6.25 | 14 |
| DFO Homebush | Outlet Centre | 100 | 28,228 | 100.0 | 675.0 | 17.1 | 5.00 | 5.00 | - | 6.00 | 15 |
| Lake Haven Centre | Sub Regional | 100 | 43,359 | 99.3 | 300.0 | 3.8 | 6.00 | 6.00 | - | 6.75 | 16 |
| Nepean Village | Sub Regional | 100 | 23,045 | 99.6 | 206.0 | (1.2) | 5.50 | 5.50 | - | 6.50 | 17 |
| Queen Victoria Building | City Centre | 50 | 14,199 | 93.5 | 279.0 | (0.0) | 5.00 | 5.00 | - | 6.00 | 18 |
| Roselands | Major Regional | 50 | 63,842 | 99.0 | 167.5 | (1.3) | 5.75 | 5.75 | - | 6.50 | 19 |
| The Galeries | City Centre | 50 | 15,067 | 98.8 | 153.0 | 0.9 | 5.00 | 5.00 | - | 6.25 | 20 |
| The Strand Arcade | City Centre | 50 | 5,702 | 99.7 | 111.0 | (0.6) | 4.75 | 4.75 | - | 6.00 | 21 |
| Warriewood Square Queensland |
Sub Regional | 50 | 30,381 | 98.3 | 140.5 | 7.4 | 5.50 | 5.75 | (0.25) | 6.25 | 22 23 |
| Buranda Village | Sub Regional | 100 | 11,546 | 100.0 | 42.5 | 3.7 | 5.75 | 5.75 | - | 6.25 | 25 |
| DFO Brisbane | Outlet Centre | 100 | 26,019 | 98.5 | 72.0 | 3.3 | 7.25 | 7.75 | (0.50) | 7.50 | 26 |
| Grand Plaza | Regional | 50 | 53,316 | 99.3 | 215.0 | 26.1 | 5.25 | 5.75 | (0.50) | 6.00 | 27 |
| Gympie Central | Sub Regional | 100 | 14,153 | 99.5 | 80.0 | 3.0 | 6.50 | 6.75 | (0.25) | 7.25 | 28 |
| Harbour Town Premium | Outlet Centre | 50 | 55,146 | 98.6 | 377.5 | 7.2 | 5.00 | 5.00 | - | 6.50 | 29 |
| Outlets Gold Coast | |||||||||||
| QueensPlaza | City Centre | 100 | 39,184 | 94.6 | 695.0 | 13.2 | 4.75 | 4.75 | - | 6.25 | 30 |
| Taigum Square | Sub Regional | 100 | 22,838 | 98.8 | 96.0 | 1.8 | 6.25 | 6.50 | (0.25) | 7.00 | 31 |
| The Myer Centre Brisbane2 | City Centre | 25 | 63,173 | n.a. | 105.0 | (9.5) | 5.75 | 5.75 | - | 6.75 | 32 |
| Whitsunday Plaza | Sub Regional | 100 | 22,345 | 99.7 | 66.0 | 1.3 | 6.75 | 7.00 | (0.25) | 7.25 | 33 |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
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Valuation movements are for the six-months ended 30 June 2022, reflect Vicinity ownership interest and exclude statutory accounting adjustments.
-
Occupancy rate non-comparable for reporting purposes.
Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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ASSET SUMMARIES
| Ownership | Gross lettable | Occupancy | Value | Net revaluation | Capitalisation rate | Capitalisation rate | Discount rate | Page | |||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Centre type | interest | area (GLA) | rate by GLA | 30-Jun-221 | **movement1 ** | 30-Jun-22 | 31-Dec-21 | Movement | 30-Jun-22 | number | |
| (%) | (sqm) | (%) | ($m) | ($m) | (%) | (%) | (%) | ||||
| South Australia Castle Plaza |
Sub Regional | 100 | 22,851 | 98.7 | 168.7 | 19.0 | 6.75 | 6.75 | - | 7.50 | 34 36 |
| Colonnades | Regional | 50 | 86,594 | 98.6 | 138.3 | 11.5 | 6.50 | 7.00 | (0.50) | 7.50 | 37 |
| Elizabeth City Centre | Regional | 100 | 80,497 | 99.6 | 322.0 | 11.6 | 7.00 | 7.25 | (0.25) | 7.50 | 38 |
| Kurralta Central Tasmania Eastlands |
Sub Regional Regional |
100 100 |
10,675 33,565 |
100.0 99.8 |
55.8 178.0 |
5.6 6.2 |
5.25 6.25 |
5.50 6.50 |
(0.25) (0.25) |
6.25 6.75 |
39 40 42 |
| Northgate2 Victoria |
Sub Regional | 100 | 19,476 | n.a. | 97.0 | 0.7 | 6.75 | 7.00 | (0.25) | 7.25 | 43 44 |
| Altona Gate | Sub Regional | 100 | 26,322 | 99.2 | 112.0 | (0.2) | 6.00 | 6.00 | - | 6.50 | 46 |
| Bayside | Major Regional | 100 | 89,741 | 99.5 | 435.0 | (7.0) | 6.25 | 6.25 | - | 7.00 | 47 |
| Box Hill Central North2,3 | Sub Regional | 100 | 14,639 | n.a. | 125.0 | 11.0 | n.a. | 5.75 | n.a. | n.a. | 48 |
| Box Hill Central South2 | Sub Regional | 100 | 25,266 | n.a. | 248.0 | (4.3) | 5.75 | 5.75 | - | 6.25 | 49 |
| Broadmeadows Central | Regional | 100 | 61,206 | 98.6 | 283.5 | 3.1 | 6.50 | 6.50 | - | 7.00 | 50 |
| Chadstone | Super Regional | 50 | 233,694 | 99.5 | 3,137.5 | 49.3 | 3.88 | 3.88 | - | 6.00 | 51 |
| Cranbourne Park | Regional | 50 | 46,373 | 98.3 | 147.5 | 8.4 | 5.75 | 6.00 | (0.25) | 6.50 | 52 |
| DFO Essendon4 | Outlet Centre | 100 | 52,411 | 100.0 | 176.0 | 2.3 | 6.50 | 6.50 | - | 6.75 | 53 |
| DFO Moorabbin | Outlet Centre | 100 | 24,530 | 98.4 | 102.0 | (2.3) | 8.00 | 8.00 | - | 8.50 | 54 |
| DFO South Wharf4 | Outlet Centre | 100 | 55,845 | 92.7 | 665.0 | 20.2 | 5.50 | 5.50 | - | 6.75 | 55 |
| DFO Uni Hill | Outlet Centre | 50 | 19,692 | 99.6 | 75.0 | 3.8 | 6.00 | 6.25 | (0.25) | 7.00 | 56 |
| Emporium Melbourne2 | City Centre | 50 | 44,763 | n.a. | 522.5 | (1.9) | 4.75 | 4.75 | - | 6.00 | 57 |
| Mornington Central2 | Sub Regional | 50 | 11,370 | n.a. | 47.0 | 2.3 | 5.50 | 5.50 | - | 6.00 | 58 |
| Myer Bourke Street | City Centre | 33 | 39,924 | 100.0 | 135.0 | (0.2) | 6.00 | 6.00 | - | 6.00 | 59 |
| Northland | Major Regional | 50 | 97,459 | 98.8 | 402.5 | (0.7) | 5.50 | 5.50 | - | 6.50 | 60 |
| Oakleigh Central | Neighbourhood | 100 | 14,206 | 98.3 | 90.0 | 3.8 | 5.25 | 5.25 | - | 6.25 | 61 |
| Roxburgh Village2 | Sub Regional | 100 | 24,738 | n.a. | 106.0 | 2.6 | 6.50 | 6.75 | (0.25) | 7.00 | 62 |
| Sunshine Marketplace | Sub Regional | 50 | 34,212 | 97.9 | 65.5 | 0.9 | 6.00 | 6.00 | - | 6.50 | 63 |
| The Glen | Major Regional | 50 | 76,949 | 98.2 | 320.0 | (3.0) | 5.50 | 5.50 | - | 6.75 | 64 |
| Victoria Gardens Shopping Centre | Sub Regional | 50 | 38,011 | 98.6 | 155.0 | 1.7 | 5.75 | 5.75 | - | 6.50 | 65 |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
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Valuation movements are for the six-months ended 30 June 2022, reflect Vicinity ownership interest and exclude statutory accounting adjustments.
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Occupancy rate non-comparable for reporting purposes.
-
Capitalisation and discount rates not available as the valuation was derived on a project related site assessment method (mixed-use project).
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Occupancy data excludes Homemaker retailers.
Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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ASSET SUMMARIES
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Ownership Gross lettable Occupancy Value Net revaluation Capitalisation rate Discount rate Page
Centre type interest area (GLA) rate by GLA 30-Jun-22 [1] movement [1 ] 30-Jun-22 31-Dec-21 Movement 30-Jun-22 number
(%) (sqm) (%) ($m) ($m) (%) (%) (%)
Western Australia 66
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| DFO Perth | Outlet Centre | 50 | 23,730 | 98.5 | 122.0 | 4.9 | 5.75 | 5.75 | - | 7.00 | 68 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dianella Plaza | Neighbourhood | 100 | 17,147 | 94.4 | 76.0 | 6.4 | 6.25 | 6.50 | (0.25) | 6.75 | 69 |
| Ellenbrook Central2 | Regional | 100 | 47,308 | n.a. | 270.0 | 10.6 | 5.75 | 6.00 | (0.25) | 6.75 | 70 |
| Galleria | Major Regional | 50 | 75,566 | 95.0 | 225.0 | (4.6) | 6.00 | 6.00 | - | 6.50 | 71 |
| Halls Head Central | Sub Regional | 50 | 19,369 | 95.2 | 41.8 | 0.3 | 6.50 | 6.50 | - | 7.00 | 72 |
| Karratha City | Sub Regional | 50 | 22,865 | 98.5 | 51.3 | (0.4) | 7.50 | 7.50 | - | 8.00 | 73 |
| Livingston Marketplace | Sub Regional | 100 | 15,603 | 100.0 | 88.0 | 4.0 | 5.75 | 6.00 | (0.25) | 6.75 | 74 |
| Maddington Central | Sub Regional | 100 | 27,886 | 97.6 | 101.0 | 2.4 | 7.00 | 7.25 | (0.25) | 7.50 | 75 |
| Mandurah Forum | Major Regional | 50 | 66,248 | 95.8 | 217.5 | (0.7) | 6.25 | 6.25 | - | 7.00 | 76 |
| Rockingham | Regional | 50 | 61,094 | 96.8 | 222.5 | 1.5 | 5.75 | 5.75 | - | 7.00 | 77 |
| Victoria Park Central | Neighbourhood | 100 | 5,771 | 96.7 | 27.0 | (0.4) | 5.50 | 5.50 | - | 6.25 | 78 |
| Warwick Grove | Sub Regional | 100 | 32,117 | 99.7 | 173.0 | 5.1 | 6.50 | 6.75 | (0.25) | 7.25 | 79 |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
- Valuation movements are for the six-months ended 30 June 2022, reflect Vicinity ownership interest and exclude statutory accounting adjustments. 2. Occupancy rate non-comparable for reporting purposes.
Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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ARMIDALE CENTRAL
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LAKE HAVEN CENTRE
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SYDNEY
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NEW SOUTH WALES
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WARRIEWOOD SQUARE
NEPEAN VILLAGE
CARLINGFORD COURT
CHATSWOOD CHASE SYDNEY
DFO HOMEBUSH
QUEEN VICTORIA BUILDING THE STRAND ARCADE
THE GALERIES
BANKSTOWN CENTRAL
ROSELANDS
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l Wholly-owned ¢ Jointly-owned
Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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NEW SOUTH WALES
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|||
|---|---|
|Armidale Central|11|
|Bankstown Central|12|
|Carlingford Court|13|
|Chatswood Chase Sydney|14|
|DFO Homebush|15|
|Lake Haven Centre|16|
|Nepean Village|17|
|Queen Victoria Building|18|
|Roselands|19|
|The Galeries|20|
|The Strand Arcade|21|
|Warriewood Square|22|
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Chatswood Chase Sydney, NSW
Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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ARMIDALE CENTRAL
Analwan Country
225 Beardy Street, Armidale NSW 2350 armidalecentral.com.au
Armidale Central is a two level Sub Regional shopping centre located in regional northern New South Wales. It is anchored by Woolworths and includes more than 25 specialty stores, and from early 2023 will include a new Kmart.
Property overview
| Property overview | |
|---|---|
| State | NSW |
| Centre type | Sub Regional |
| Ownership interest (%) | 100 |
| Date acquired | 2007 |
| Centre first opened | 2007 |
| Latest redevelopment | n.a. |
| Valuation External/Internal | External |
| Valuation ($m)1 | 36.6 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.75 |
| Discount rate (%) | 7.00 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 14,742 |
| Number of tenants | 34 |
| Total Trade Area (000's) | 61 |
| Major tenants2 | Woolworths |
| Car spaces | 613 |
| Occupancy rate by GLA (%)3 | n.a. |
| Weighted average lease expiry by GLA (years) | 4.0 |
| Green Star – Performance | 3 Stars |
| NABERS Energy rating | 0 Star |
| NABERS Water rating | 6 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas.
3 Occupancy rate non-comparable for reporting purposes.
4 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 49%
Mini majors 8%
Specialties 41%
Other retail 1%
Non retail 2%
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Specialty store lease expiry profile by income
FY23 [4] 31%
FY24 12%
FY25 14%
FY26 5%
FY27+ 38%
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11 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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BANKSTOWN CENTRAL
Cabrogal Country
North Terrace, Bankstown NSW 2200 bankstowncentral.com.au
Bankstown Central is a three level Major Regional shopping centre located approximately 24 kilometres south-west of the Sydney CBD, lying within the area covered by the Sydenham to Bankstown Urban Renewal Corridor. It is anchored by Myer, Big W, Kmart and Woolworths and includes more than 175 specialty stores. The centre has commenced refurbishment works which include relocating the bus terminal, reconfiguring the tenancies to make way for a new Coles which will anchor the 'Grand Market' fresh food precinct, and a number of new retailers.
Property overview
| Property overview | |
|---|---|
| State | NSW |
| Centre type | Major Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | Private investor – 50 |
| Date acquired | 2003 |
| Centre first opened | 1966 |
| Latest redevelopment | 2022 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 520.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.75 |
| Discount rate (%) | 6.50 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 78,770 |
| Number of tenants | 221 |
| Total Trade Area (000's) | 510 |
| Major tenants2 | Big W, Kmart, Myer, |
| Woolworths | |
| Car spaces | 3,174 |
| Occupancy rate by GLA (%)3 | n.a. |
| Weighted average lease expiry by GLA (years) | 3.1 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 4.5 Stars |
| NABERS Water rating | 3 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas.
3 Occupancy rate non-comparable for reporting purposes.
4 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 6%
Discount department stores 23%
Department stores 15%
Mini majors 17%
Specialties 26%
Other retail 7%
Non retail 6%
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Specialty store lease expiry profile by income
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FY23 [4] 45%
FY24 15%
FY25 9%
FY26 7%
FY27+ 24%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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CARLINGFORD COURT
Gadigal Country
Corner Pennant Hills and Carlingford Roads, Carlingford NSW 2118 carlingfordcourt.com.au
Carlingford Court is a four level Sub Regional shopping centre located approximately 22 kilometres north-west of the Sydney CBD. It is anchored by Target, Coles and Woolworths and includes more than 65 specialty stores. The retail offering is supported by a wide selection of restaurants, cafes and takeaway food.
Property overview
| Property overview | |
|---|---|
| State | NSW |
| Centre type | Sub Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | Private investor – 50 |
| Date acquired | 2013 |
| Centre first opened | 1965 |
| Latest redevelopment | 2007 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 222.5 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.50 |
| Discount rate (%) | 6.50 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 33,298 |
| Number of tenants | 99 |
| Total Trade Area (000's) | 171 |
| Major tenants2 | Coles, Target, Woolworths |
| Car spaces | 1,335 |
| Occupancy rate by GLA (%) | 98.9 |
| Weighted average lease expiry by GLA (years) | 4.0 |
| Green Star – Performance | 3 Stars |
| NABERS Energy rating | 4 Stars |
| NABERS Water rating | 4 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 23%
Discount department stores 25%
Mini majors 16%
Specialties 15%
Other retail 13%
Non retail 9%
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Specialty store lease expiry profile by income
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FY23 [3] 27%
FY24 13%
FY25 25%
FY26 21%
FY27+ 15%
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13 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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CHATSWOOD CHASE SYDNEY
Cammeraygal Country 345 Victoria Avenue, Chatswood NSW 2067 chatswoodchasesydney.com.au
Chatswood Chase Sydney is a four level Major Regional shopping centre located approximately 11 kilometres north of the Sydney CBD. It is anchored by David Jones, Kmart and Coles and includes more than 145 specialty stores. Chatswood Chase Sydney features iconic international and Australian brands such as Aje., Apple, Coach, Hugo Boss, Incu, lululemon, maje, Max & Co, MECCA, Nespresso, Polo Ralph Lauren, Pottery Barn, Sandro, Scanlan Theodore, Tommy Hilfiger, West Elm, WilliamsSonoma and Zimmermann.
Property overview
| Property overview | |
|---|---|
| State | NSW |
| Centre type | Major Regional |
| Ownership interest (%) | Vicinity Centres – 51 |
| Co-owner (%) | GIC – 49 |
| Date acquired* | 2003 |
| Centre first opened | 1980 |
| Latest redevelopment | 2009 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 804.9 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.00 |
| Discount rate (%) | 6.25 |
| Property metrics | ||
|---|---|---|
| Gross lettable area (GLA) (sqm) | 64,350 | |
| Number of tenants | 170 | |
| Total Trade Area (000's) | 450 | |
| Major tenants2 | Coles, David Jones, Kmart | |
| Car spaces | 2,434 | |
| Occupancy rate by GLA (%)3 | n.a. | |
| Weighted average lease expiry by GLA (years) | 2.8 | |
| Green Star – Performance | 4 Stars | |
| NABERS Energy rating | 4.5 Stars | |
| NABERS Water rating | 3 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
- Acquired 50% in 2003, acquired 50% in 2007 and divested 49% in 2018. 1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas.
3 Occupancy rate non-comparable for reporting purposes.
4 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 6%
Discount department stores 11%
Department stores 34%
Mini majors 14%
Specialties 31%
Other retail 1%
Non retail 2%
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Specialty store lease expiry profile by income
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FY23 [4] 59%
FY24 29%
FY25 6%
FY26 3%
FY27+ 3%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
14
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DFO HOMEBUSH
Wangal Country
3-5 Underwood Road, Homebush NSW 2140 homebush.dfo.com.au
DFO Homebush is a two level Outlet Centre located approximately 15 kilometres west of the Sydney CBD. The Centre is home to more than 105 outlet retailers with a unique Premium Outlet Mall, housing high-end luxury fashion retailers including Burberry, Max Mara, Versace, Armani Outlet, Salvatore Ferragamo, Kate Spade, Coach and Michael Kors. The centre also offers key sporting brands such as Nike, Asics, PUMA and Champion as well as a Homemaker Hub.
Property overview
| Property overview | |
|---|---|
| State | NSW |
| Centre type | Outlet Centre |
| Ownership interest (%) | 100 |
| Date acquired | 2010 |
| Centre first opened | 2002 |
| Latest redevelopment | 2014 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 675.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.00 |
| Discount rate (%) | 6.00 |
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 28,228 |
| Number of tenants | 124 |
| Total Trade Area (000's) | 3,195 |
| Major tenants2 | – |
| Car spaces | 2,020 |
| Occupancy rate by GLA (%) | 100.0 |
| Weighted average lease expiry by GLA (years) | 2.0 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5 Stars |
| NABERS Water rating | 5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
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Tenant mix by gross lettable area (GLA)
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Mini majors 43%
Specialties 56%
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Specialty store lease expiry profile by income
FY23 [3] 19%
FY24 31%
FY25 27%
FY26 10%
FY27+ 12%
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15 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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LAKE HAVEN CENTRE
Darkinjung Country
Corner Lake Haven Drive and Goobarabah Avenue, Lake Haven NSW 2263 lakehavencentre.com.au
Lake Haven Centre is a single level Sub Regional shopping centre and business park located approximately 12 kilometres north-east of Wyong, on the Central Coast. It is anchored by Kmart, ALDI, Coles and Woolworths and includes more than 75 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | NSW |
| Centre type | Sub Regional |
| Ownership interest (%) | 100 |
| Date acquired | 1997 |
| Centre first opened | 1986 |
| Latest redevelopment | 2009 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 300.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.00 |
| Discount rate (%) | 6.75 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 43,359 |
| Number of tenants | 124 |
| Total Trade Area (000's) | 106 |
| Major tenants2 | ALDI, Coles, Kmart, |
| Woolworths | |
| Car spaces | 1,660 |
| Occupancy rate by GLA (%) | 99.3 |
| Weighted average lease expiry by GLA (years) | 3.8 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5 Stars |
| NABERS Water rating | 4.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 23%
Discount department stores 19%
Mini majors 13%
Specialties 17%
Other retail 17%
Non retail 10%
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Specialty store lease expiry profile by income
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FY23 [3] 33%
FY24 16%
FY25 18%
FY26 11%
FY27+ 22%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
16
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NEPEAN VILLAGE
Darug Country
Corner Station and Woodriff Streets, Penrith NSW 2750 nepeanvillage.com.au
Nepean Village is a single level Sub Regional shopping centre located in Penrith, at the foothills of the Blue Mountains, approximately 57 kilometres west of the Sydney CBD. It is anchored by Kmart and Coles and includes more than 45 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | NSW |
| Centre type | Sub Regional |
| Ownership interest (%) | 100 |
| Date acquired | 2003 |
| Centre first opened | 1984 |
| Latest redevelopment | 1999 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 206.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.50 |
| Discount rate (%) | 6.50 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 23,045 |
| Number of tenants | 67 |
| Total Trade Area (000's) | 167 |
| Major tenants2 | Coles, Kmart |
| Car spaces | 861 |
| Occupancy rate by GLA (%) | 99.6 |
| Weighted average lease expiry by GLA (years) | 5.4 |
| Green Star – Performance | 3 Stars |
| NABERS Energy rating | 4.5 Stars |
| NABERS Water rating | 2.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 19%
Discount department stores 37%
Mini majors 6%
Specialties 19%
Other retail 18%
Non retail 2%
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Specialty store lease expiry profile by income
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FY23 [3] 18%
FY24 32%
FY25 17%
FY26 6%
FY27+ 26%
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17 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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QUEEN VICTORIA BUILDING
Gadigal Country
455 George Street, Sydney NSW 2000 qvb.com.au
The Queen Victoria Building (QVB) is a five level shopping centre located in the heart of Sydney's CBD. Opened in 1898, the QVB is an historic and iconic destination, attracting local and international visitors. The QVB is home to unique retail and leading Australian and international brands, including R.M. Williams, Oroton, KENZO, Ralph Lauren, Hugo Boss and Jimmy Choo. There is more than 140 specialty stores, as well as premium dining experiences, including Manon Brasserie and the iconic Tea Room.
Property overview
| Property overview | |
|---|---|
| State | NSW |
| Centre type | City Centre |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | Link REIT – 50 |
| Date acquired | 2018 |
| Centre first opened | 1898 |
| Latest redevelopment | 2008 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 558.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.00 |
| Discount rate (%) | 6.00 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 14,199 |
| Number of tenants | 153 |
| Total Trade Area (000's) | 2,642 |
| Major tenants2 | – |
| Car spaces | 669 |
| Occupancy rate by GLA (%) | 93.5 |
| Weighted average lease expiry by GLA (years) | 2.2 |
| Green Star – Performance | 2 Stars |
| NABERS Energy rating | n.a. |
| NABERS Water rating | n.a. |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
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Tenant mix by gross lettable area (GLA)
Mini majors 21%
Specialties 72%
Non retail 6%
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Specialty store lease expiry profile by income
FY23 [3] 41%
FY24 22%
FY25 8%
FY26 12%
FY27+ 17%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results 18
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ROSELANDS
Darug Country
24 Roseland Avenue, Roselands NSW 2196 roselands.com.au
Roselands is a three level Major Regional shopping centre located approximately 18 kilometres south-west of the Sydney CBD. It is anchored by Myer, Kmart, ALDI, Coles and Woolworths and includes more than 110 specialty stores. The centre also has one of Sydney's best fresh food retail precincts, The Markets.
Property overview
| Property overview | |
|---|---|
| State | NSW |
| Centre type | Major Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | Private investor – 50 |
| Date acquired | 1998 |
| Centre first opened | 1965 |
| Latest redevelopment | 2019 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 335.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.75 |
| Discount rate (%) | 6.50 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 63,842 |
| Number of tenants | 143 |
| Total Trade Area (000's) | 463 |
| Major tenants2 | ALDI, Coles, Kmart, |
| Myer,Woolworths | |
| Car spaces | 3,187 |
| Occupancy rate by GLA (%) | 99.0 |
| Weighted average lease expiry by GLA (years) | 5.2 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 4.5 Stars |
| NABERS Water rating | 2 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 17%
Discount department stores 13%
Department stores 38%
Mini majors 10%
Specialties 17%
Other retail 1%
Non retail 4%
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 12%
FY24 8%
FY25 41%
FY26 14%
FY27+ 25%
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19 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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THE GALERIES
Gadigal Country
500 George Street, Sydney NSW 2000 thegaleries.com
The Galeries is a four level City Centre located in the heart of Sydney's CBD. The Galeries is a lifestyle and cultural destination for fashion, art and dining. Featuring The Grounds of the City, Gram Café & Pancakes, Lotus, Arthouse Hotel, Books Kinokuniya, MUJI, JB Hi-Fi, Incu, Carhatt, Vans and more than 60 specialty stores, including the first global P.E Nation flagship store.
Property overview
| Property overview | |
|---|---|
| State | NSW |
| Centre type | City Centre |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | Link REIT – 50 |
| Date acquired | 2018 |
| Centre first opened | 2000 |
| Latest redevelopment | n.a. |
| Valuation External/Internal | External |
| Valuation ($m)1 | 306.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.00 |
| Discount rate (%) | 6.25 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 15,067 |
| Number of tenants | 69 |
| Total Trade Area (000's) | 2,230 |
| Major tenants2 | – |
| Car spaces | – |
| Occupancy rate by GLA (%) | 98.8 |
| Weighted average lease expiry by GLA (years) | 4.4 |
| Green Star – Performance | 3 Stars |
| NABERS Energy rating | n.a. |
| NABERS Water rating | n.a. |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Mini majors 41%
Specialties 34%
Other retail 24%
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----- Start of picture text -----
Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 25%
FY24 14%
FY25 13%
FY26 17%
FY27+ 31%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
20
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THE STRAND ARCADE
Gadigal Country
412-414 George Street, Sydney NSW 2000 strandarcade.com.au
The Strand Arcade is a multi-level City Centre located in the heart of Sydney's CBD. Established in 1891, The Strand Arcade is an important heritage landmark within Sydney and is the only Victorian shopping arcade remaining in its original form today. Sydney's home of Australian designers, The Strand Arcade features Camilla and Marc, Dion Lee, Scanlan Theodore, Viktoria & Woods, Mecca Cosmetica, Haigh's Chocolates and the Chef's Hat awarded The Restaurant Pendolino, as well as JB Hi-Fi and more than 65 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | NSW |
| Centre type | City Centre |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | Link REIT – 50 |
| Date acquired | 2018 |
| Centre first opened | 1891 |
| Latest redevelopment | 1997 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 222.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 4.75 |
| Discount rate (%) | 6.00 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 5,702 |
| Number of tenants | 75 |
| Total Trade Area (000's) | 1,292 |
| Major tenants2 | – |
| Car spaces | – |
| Occupancy rate by GLA (%) | 99.7 |
| Weighted average lease expiry by GLA (years) | 2.0 |
| Green Star – Performance | 3 Stars |
| NABERS Energy rating | n.a. |
| NABERS Water rating | n.a. |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
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Tenant mix by gross lettable area (GLA)
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Mini majors 23%
Specialties 66%
Non retail 11%
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Specialty store lease expiry profile by income
FY23 [3] 20%
FY24 41%
FY25 17%
FY26 12%
FY27+ 10%
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21 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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WARRIEWOOD SQUARE
Ku-ring-gai Country
Jacksons Road, Warriewood NSW 2102 warriewoodsquare.com.au
Warriewood Square is a single level Sub Regional shopping centre located in Sydney's northern beaches, approximately 29 kilometres north-east of the Sydney CBD. The centre is anchored by Kmart, ALDI, Coles and Woolworths and includes more than 85 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | NSW |
| Centre type | Sub Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | ISPT Core Fund – 50 |
| Date acquired | 1996 |
| Centre first opened | 1980 |
| Latest redevelopment | 2016 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 281.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.50 |
| Discount rate (%) | 6.25 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 30,381 |
| Number of tenants | 109 |
| Total Trade Area (000's) | 96 |
| Major tenants2 | ALDI, Coles, Kmart, |
| Woolworths | |
| Car spaces | 1,450 |
| Occupancy rate by GLA (%) | 98.3 |
| Weighted average lease expiry by GLA (years) | 7.1 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5 Stars |
| NABERS Water rating | 4 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 28%
Discount department stores 26%
Mini majors 13%
Specialties 27%
Other retail 1%
Non retail 5%
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----- Start of picture text -----
Specialty store lease expiry profile by income
FY23 [3] 31%
FY24 25%
FY25 9%
FY26 12%
FY27+ 23%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results 22
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QUEENSLAND
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l Wholly-owned
¢ Jointly-owned
TAIGUM SQUARE
GRAND PLAZA
DFO BRISBANE
QUEENSPLAZA
THE MYER CENTRE BRISBANE
BURANDA VILLAGE
GRAND PLAZA
WHITSUNDAY PLAZA
GYMPIE CENTRAL
BRISBANE
HARBOUR TOWN PREMIUM OUTLETS GOLD COAST
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
23
QUEENSLAND
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----- Start of picture text -----
|||
|---|---|
|Buranda Village|25|
|DFO Brisbane|26|
|Grand Plaza|27|
|Gympie Central|28|
|Harbour Town Premium|29|
|Outlets Gold Coast|
|QueensPlaza|30|
|Taigum Square|31|
|The Myer Centre Brisbane|32|
|Whitsunday Plaza|33|
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Harbour Town Premium Outlets Gold Coast, QLD
Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
24
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BURANDA VILLAGE
Coorparoo Country
Corner Ipswich Road and Cornwall Street, Buranda QLD 4102 burandavillage.com.au
Buranda Village is a single level Sub Regional shopping centre located approximately 5 kilometres south of the Brisbane CBD. It is anchored by Target and Woolworths and includes more than 20 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | QLD |
| Centre type | Sub Regional |
| Ownership interest (%) | 100 |
| Date acquired | 2000 |
| Centre first opened | 1978 |
| Latest redevelopment | 2005 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 42.5 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.75 |
| Discount rate (%) | 6.25 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 11,546 |
| Number of tenants | 33 |
| Total Trade Area (000's) | 141 |
| Major tenants2 | Target, Woolworths |
| Car spaces | 520 |
| Occupancy rate by GLA (%) | 100.0 |
| Weighted average lease expiry by GLA (years) | 4.1 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 3 Stars |
| NABERS Water rating | 4 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 26%
Discount department stores 36%
Specialties 17%
Other retail 9%
Non retail 12%
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 20%
FY24 41%
FY25 5%
FY26 21%
FY27+ 12%
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25 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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DFO BRISBANE
Daki Yakka Country
18th Avenue, Brisbane Airport QLD 4008 brisbane.dfo.com.au
DFO Brisbane is a single level Outlet Centre located approximately 13 kilometres north-east of the Brisbane CBD and 10 minutes from Brisbane Airport. The centre comprises more than 130 outlet retailers and includes Nike, Calvin Klein, Furla, Polo Ralph Lauren and Tommy Hilfiger.
Property overview
| Property overview | |
|---|---|
| State | QLD |
| Centre type | Outlet Centre |
| Ownership interest (%) | 100 |
| Date acquired | 2016 |
| Centre first opened | 2005 |
| Latest redevelopment | 2015 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 72.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 7.25 |
| Discount rate (%) | 7.50 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 26,019 |
| Number of tenants | 140 |
| Total Trade Area (000's) | 1,651 |
| Major tenants2 | – |
| Car spaces | 2,600 |
| Occupancy rate by GLA (%) | 98.5 |
| Weighted average lease expiry by GLA (years) | 1.7 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 4.5 Stars |
| NABERS Water rating | 5.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
- 1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
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Tenant mix by gross lettable area (GLA)
Mini majors 16%
Specialties 84%
Non retail 1%
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----- Start of picture text -----
Specialty store lease expiry profile by income
FY23 [3] 36%
FY24 20%
FY25 18%
FY26 4%
FY27+ 22%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results 26
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GRAND PLAZA
Yuggera/Yugambeh Country
27-49 Browns Plains Road, Browns Plains QLD 4118 grandplaza.com.au
Grand Plaza is a single level Regional shopping centre located approximately 27 kilometres south of the Brisbane CBD. It is anchored by Big W, Kmart, Target, ALDI, Coles, Woolworths and Event Cinemas, a newly refurbished food court and includes more than 105 specialty stores. In addition, a drone delivery program has successfully been implemented at Grand Plaza, with participation from an increasing number of retailers.
Property overview
| Property overview | |
|---|---|
| State | QLD |
| Centre type | Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | EG Funds Management – 50 |
| Date acquired | 2002 |
| Centre first opened | 1994 |
| Latest redevelopment | 2006 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 430.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.25 |
| Discount rate (%) | 6.00 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 53,316 |
| Number of tenants | 141 |
| Total Trade Area (000's) | 307 |
| Major tenants2 | ALDI, Big W, Coles, Event |
| Cinemas, Kmart, Target, | |
| Woolworths | |
| Car spaces | 2,667 |
| Occupancy rate by GLA (%) | 99.3 |
| Weighted average lease expiry by GLA (years) | 2.9 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 4.5 Stars |
| NABERS Water rating | 4 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 19%
Discount department stores 38%
Mini majors 5%
Specialties 22%
Other retail 13%
Non retail 3%
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 32%
FY24 23%
FY25 14%
FY26 12%
FY27+ 19%
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27 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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GYMPIE CENTRAL
Gubi Gubi Country
Corner Bruce Highway and Excelsior Road, Gympie QLD 4570 gympiecentral.com.au
Gympie Central is a single level Sub Regional shopping centre located in Gympie, approximately 80 kilometres north-west of Maroochydore on the Sunshine Coast. It is anchored by Big W and Woolworths and includes more than 40 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | QLD |
| Centre type | Sub Regional |
| Ownership interest (%) | 100 |
| Date acquired | 2003 |
| Centre first opened | 1973 |
| Latest redevelopment | 2007 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 80.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.50 |
| Discount rate (%) | 7.25 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 14,153 |
| Number of tenants | 47 |
| Total Trade Area (000's) | 52 |
| Major tenants2 | Big W, Woolworths |
| Car spaces | 749 |
| Occupancy rate by GLA (%) | 99.5 |
| Weighted average lease expiry by GLA (years) | 3.8 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5 Stars |
| NABERS Water rating | 4.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 26%
Discount department stores 41%
Specialties 30%
Non retail 3%
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----- Start of picture text -----
Specialty store lease expiry profile by income
FY23 [3] 30%
FY24 12%
FY25 26%
FY26 13%
FY27+ 19%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results 28
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HARBOUR TOWN PREMIUM OUTLETS GOLD COAST
Yugambeh Country
147-189 Brisbane Road, Biggera Waters QLD 4216 harbourtowngoldcoast.com.au
Harbour Town Premium Outlets Gold Coast is a single level hybrid Outlet Centre, comprising both outlet retail as well as convenience. Located approximately 10 kilometres north of Surfers Paradise on the Gold Coast, it is anchored by Woolworths and Reading Cinemas. The resort style centre has a recently expanded entertainment and dining precinct, as well as more than 175 outlet retailers, including Coach, Polo Ralph Lauren, Tommy Hilfiger, Calvin Klein and R.M. Williams.
Property overview
| Property overview | |
|---|---|
| State | QLD |
| Centre type | Outlet Centre |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | Lewis Land Group – 50 |
| Date acquired | 2021 |
| Centre first opened | 1999 |
| Latest redevelopment | 2019 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 755.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.00 |
| Discount rate (%) | 6.50 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 55,146 |
| Number of tenants | 205 |
| Total Trade Area (000's) | 1,184 |
| Major tenants2 | Reading Cinemas, |
| Woolworths | |
| Car spaces | 3,022 |
| Occupancy rate by GLA (%) | 98.6 |
| Weighted average lease expiry by GLA (years) | 2.8 |
| Green Star – Performance | n.a. |
| NABERS Energy rating | 3.5 Stars |
| NABERS Water rating | 2.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 7%
Mini majors 21%
Specialties 50%
Other retail 20%
Non retail 1%
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 39%
FY24 16%
FY25 16%
FY26 11%
FY27+ 17%
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29 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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QUEENSPLAZA
Daki Yakka Country
226 Queen Street, Brisbane QLD 4000 queensplaza.com.au
QueensPlaza is a three level City Centre located in the heart of Brisbane's CBD on Queen Street Mall. It is anchored by David Jones and includes more than 45 specialty stores. The centre features luxury retailers including Balenciaga, Burberry, Bvlgari, Chanel, Dior, Fendi, GUCCI, Louis Vuitton, Paspaley, Saint Laurent, Salvatore Ferragamo and Tiffany & Co.
Property overview
| Property overview | |
|---|---|
| State | QLD |
| Centre type | City Centre |
| Ownership interest (%) | 100 |
| Date acquired | 2001 |
| Centre first opened | 2005 |
| Latest redevelopment | 2018 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 695.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 4.75 |
| Discount rate (%) | 6.25 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 39,184 |
| Number of tenants | 57 |
| Total Trade Area (000's) | 2,455 |
| Major tenants2 | David Jones |
| Car spaces | 600 |
| Occupancy rate by GLA (%) | 94.6 |
| Weighted average lease expiry by GLA (years) | 10.5 |
| Green Star – Performance | 3 Stars |
| NABERS Energy rating | 4 Stars |
| NABERS Water rating | 3 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Department stores 72%
Mini majors 3%
Specialties 16%
Non retail 8%
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 14%
FY24 21%
FY25 7%
FY26 31%
FY27+ 27%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
30
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TAIGUM SQUARE
Daki Yakka Country
Corner Church and Beams Roads, Taigum QLD 4018 taigumsquare.com.au
Taigum Square is a single level Sub Regional shopping centre located approximately 15 kilometres north of the Brisbane CBD. It is anchored by Big W and Woolworths and includes more than 40 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | QLD |
| Centre type | Sub Regional |
| Ownership interest (%) | 100 |
| Date acquired | 1998 |
| Centre first opened | 1982 |
| Latest redevelopment | 2001 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 96.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.25 |
| Discount rate (%) | 7.00 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 22,838 |
| Number of tenants | 68 |
| Total Trade Area (000's) | 90 |
| Major tenants2 | Big W, Woolworths |
| Car spaces | 1,054 |
| Occupancy rate by GLA (%) | 98.8 |
| Weighted average lease expiry by GLA (years) | 4.0 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 6 Stars |
| NABERS Water rating | 4 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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----- Start of picture text -----
Supermarkets 17%
Discount department stores 30%
Mini majors 10%
Specialties 21%
Other retail 14%
Non retail 9%
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 27%
FY24 17%
FY25 17%
FY26 22%
FY27+ 17%
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31 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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THE MYER CENTRE BRISBANE
Daki Yakka Country
91 Queen Street, Brisbane QLD 4000 themyercentre.com.au
The Myer Centre Brisbane is a six level City Centre located in the heart of Brisbane's CBD on Queen Street Mall. This CBD retail destination is anchored by Myer, Target, Coles Central and Event Cinemas and includes more than 105 specialty stores.
| Property overview State QLD Centre type City Centre Ownership interest (%) Vicinity Centres – 25 Co-owner (%) ISPT Core Fund – 75 Date acquired* 1998 Centre first opened 1988 Latest redevelopment 2006 Valuation External/Internal External Valuation ($m)1 420.0 Valuation date Jun-22 Capitalisation rate (%) 5.75 Discount rate (%) 6.75 |
Property metrics |
|---|---|
| Gross lettable area (GLA) (sqm) 63,173 |
|
| Number of tenants 129 |
|
| Total Trade Area (000's) 1,308 |
|
| Major tenants2 Coles Central, Event Cinemas, Myer,Target |
|
| Car spaces 1,450 |
|
| Occupancy rate by GLA (%)3 n.a. |
|
| Weighted average lease expiry by GLA (years) 4.5 |
|
| Green Star – Performance 4 Stars |
|
| NABERS Energy rating 4 Stars |
|
| NABERS Water rating 4 Stars |
|
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
- Acquired 100% in 1998, divested 50% in 2002 and divested a further 25% in 2006. 1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas.
3 Occupancy rate non-comparable for reporting purposes.
4 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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----- Start of picture text -----
Supermarkets 3%
Discount department stores 13%
Department stores 53%
Mini majors 7%
Specialties 16%
Other retail 6%
Non retail 1%
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----- Start of picture text -----
Specialty store lease expiry profile by income
FY23 [4] 56%
FY24 21%
FY25 17%
FY26 4%
FY27+ 1%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
32
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WHITSUNDAY PLAZA
Giya/Gia Country
8 Galbraith Park Drive, Cannonvale QLD 4802 whitsundayplaza.com.au
Whitsunday Plaza is a single level Sub Regional shopping centre located in Whitsunday in central Queensland, approximately 6 kilometres south-west of Airlie Beach. It is anchored by Big W, Harvey Norman and Woolworths and includes more than 20 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | QLD |
| Centre type | Sub Regional |
| Ownership interest (%) | 100 |
| Date acquired | 2005 |
| Centre first opened | 2006 |
| Latest redevelopment | n.a. |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 66.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.75 |
| Discount rate (%) | 7.25 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 22,345 |
| Number of tenants | 48 |
| Total Trade Area (000's) | 36 |
| Major tenants2 | Big W, Harvey Norman, |
| Woolworths | |
| Car spaces | 1,148 |
| Occupancy rate by GLA (%) | 99.7 |
| Weighted average lease expiry by GLA (years) | 3.1 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5.5 Stars |
| NABERS Water rating | 5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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----- Start of picture text -----
Supermarkets 15%
Discount department stores 24%
Department stores 8%
Mini majors 10%
Specialties 10%
Other retail 30%
Non retail 4%
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 51%
FY24 12%
FY25 16%
FY26 17%
FY27+ 4%
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33 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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----- Start of picture text -----
ADELAIDE
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----- Start of picture text -----
ELIZABETH CITY CENTRE
KURRALTA CENTRAL
CASTLE PLAZA
COLONNADES
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SOUTH AUSTRALIA
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----- Start of picture text -----
l Wholly-owned
¢ Jointly-owned
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
34
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----- Start of picture text -----
Castle Plaza, SA
----- End of picture text -----
SOUTH AUSTRALIA
Castle Plaza 36 Colonnades 37 Elizabeth City Centre 38 Kurralta Central 39
Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
35
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CASTLE PLAZA
Kaurna Country
992 South Road, Edwardstown SA 5039 castleplaza.com.au
Castle Plaza is a single level Sub Regional shopping centre located approximately 8 kilometres south-west of the Adelaide CBD. It is anchored by Target, Coles and Drakes and includes more than 50 specialty stores. The centre is home to the largest solar battery installation at a shopping centre in Australia.
Property overview
| Property overview | |
|---|---|
| State | SA |
| Centre type | Sub Regional |
| Ownership interest (%) | 100 |
| Date acquired | 2002 |
| Centre first opened | 1987 |
| Latest redevelopment | 2000 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 168.7 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.75 |
| Discount rate (%) | 7.50 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 22,851 |
| Number of tenants | 67 |
| Total Trade Area (000's) | 131 |
| Major tenants2 | Coles, Foodland, Target |
| Car spaces | 1,288 |
| Occupancy rate by GLA (%) | 98.7 |
| Weighted average lease expiry by GLA (years) | 2.2 |
| Green Star – Performance | 3 Stars |
| NABERS Energy rating | 5.5 Stars |
| NABERS Water rating | 3.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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----- Start of picture text -----
Supermarkets 30%
Discount department stores 35%
Specialties 22%
Other retail 7%
Non retail 6%
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----- Start of picture text -----
Specialty store lease expiry profile by income
FY23 [3] 39%
FY24 25%
FY25 14%
FY26 10%
FY27+ 13%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results 36
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COLONNADES
Kaurna Country
Beach Road, Noarlunga Centre SA 5168 colonnades.com.au
Colonnades is a two level Regional shopping centre located in Noarlunga Centre, approximately 30 kilometres south of the Adelaide CBD. It is anchored by Big W, Kmart, Harris Scarfe, ALDI, Coles and Woolworths. The centre comprises more than 120 specialty stores, as well as not for profit Can:Do Group and commercial tenant Datacom.
Property overview
| Property overview | |
|---|---|
| State | SA |
| Centre type | Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | Private investor – 50 |
| Date acquired | 2003 |
| Centre first opened | 1979 |
| Latest redevelopment | 2016 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 276.5 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.50 |
| Discount rate (%) | 7.50 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 86,594 |
| Number of tenants | 169 |
| Total Trade Area (000's) | 204 |
| Major tenants2 | ALDI, Big W, Coles, |
| Harris Scarfe, Kmart, | |
| Woolworths | |
| Car spaces | 4,157 |
| Occupancy rate by GLA (%) | 98.6 |
| Weighted average lease expiry by GLA (years) | 4.7 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5.5 Stars |
| NABERS Water rating | 4 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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----- Start of picture text -----
Supermarkets 15%
Discount department stores 27%
Mini majors 11%
Specialties 20%
Other retail 11%
Non retail 16%
----- End of picture text -----
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 28%
FY24 22%
FY25 24%
FY26 7%
FY27+ 19%
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37 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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ELIZABETH CITY CENTRE
Kaurna Country
50 Elizabeth Way, Elizabeth SA 5112 elizabethcitycentre.com.au
Elizabeth City Centre is a single level Regional shopping centre located approximately 26 kilometres north-east of the Adelaide CBD. Home to Australia's largest retail centre solar installation, the centre features an entertainment precinct and is anchored by Big W, Target, Harris Scarfe, Coles, Woolworths and Reading Cinemas and includes more than 130 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | SA |
| Centre type | Regional |
| Ownership interest (%) | 100 |
| Date acquired | 1998 |
| Centre first opened | 1960 |
| Latest redevelopment | 2015 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 322.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 7.00 |
| Discount rate (%) | 7.50 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 80,497 |
| Number of tenants | 193 |
| Total Trade Area (000's) | 244 |
| Major tenants2 | Big W, Coles, |
| Harris Scarfe, | |
| Reading Cinemas, | |
| Target,Woolworths | |
| Car spaces | 3,191 |
| Occupancy rate by GLA (%) | 99.6 |
| Weighted average lease expiry by GLA (years) | 3.7 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5 Stars |
| NABERS Water rating | 3 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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----- Start of picture text -----
Supermarkets 11%
Discount department stores 29%
Mini majors 10%
Specialties 22%
Other retail 14%
Non retail 13%
----- End of picture text -----
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 27%
FY24 21%
FY25 15%
FY26 19%
FY27+ 18%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
38
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KURRALTA CENTRAL
Kaurna Country
153 Anzac Highway, Kurralta Park SA 5037 kurraltacentral.com.au
Kurralta Central is a single level Sub Regional shopping centre located approximately 5 kilometres south-west of the Adelaide CBD. It is anchored by Kmart and Coles and includes 11 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | SA |
| Centre type | Sub Regional |
| Ownership interest (%) | 100 |
| Date acquired | 2003 |
| Centre first opened | 1969 |
| Latest redevelopment | 2000 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 55.8 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.25 |
| Discount rate (%) | 6.25 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 10,675 |
| Number of tenants | 14 |
| Total Trade Area (000's) | 58 |
| Major tenants2 | Coles, Kmart |
| Car spaces | 542 |
| Occupancy rate by GLA (%) | 100.0 |
| Weighted average lease expiry by GLA (years) | 8.4 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 6 Stars |
| NABERS Water rating | 4 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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----- Start of picture text -----
Supermarkets 22%
Discount department stores 66%
Specialties 10%
Other retail 2%
----- End of picture text -----
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----- Start of picture text -----
Specialty store lease expiry profile by income
FY23 [3] 26%
FY24 9%
FY25 0%
FY26 37%
FY27+ 29%
----- End of picture text -----
Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
39
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----- Start of picture text -----
HOBART
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----- Start of picture text -----
NORTHGATE
EASTLANDS
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TASMANIA
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----- Start of picture text -----
l Wholly-owned
¢ Jointly-owned
----- End of picture text -----
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
40
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----- Start of picture text -----
Northgate, TAS
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TASMANIA
Eastlands 42 Northgate 43
Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
41
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EASTLANDS
Muwinina Country
26 Bligh Street, Rosny Park TAS 7018 eastlandssc.com.au
Eastlands is a two level Regional shopping centre located approximately 5 kilometres east of the Hobart CBD. It is anchored by Big W, Kmart, Coles, Woolworths and Village Cinemas and includes more than 75 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | TAS |
| Centre type | Regional |
| Ownership interest (%) | 100 |
| Date acquired | 1994 |
| Centre first opened | 1965 |
| Latest redevelopment | 2007 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 178.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.25 |
| Discount rate (%) | 6.75 |
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 33,565 |
| Number of tenants | 94 |
| Total Trade Area (000's) | 230 |
| Major tenants2 | Big W, Coles, Kmart, |
| Village Cinemas, | |
| Woolworths, | |
| Car spaces | 1,446 |
| Occupancy rate by GLA (%) | 99.8 |
| Weighted average lease expiry by GLA (years) | 3.7 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5.5 Stars |
| NABERS Water rating | 4 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
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Tenant mix by gross lettable area (GLA)
Supermarkets 22%
Discount department stores 32%
Mini majors 10%
Specialties 28%
Other retail 6%
Non retail 2%
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Specialty store lease expiry profile by income
FY23 [3] 35%
FY24 13%
FY25 12%
FY26 17%
FY27+ 23%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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NORTHGATE
Muwinina Country 387-393 Main Road, Glenorchy TAS 7010 northgatesc.com.au
Northgate is a single level Sub Regional shopping centre located approximately 9 kilometres north-west of the Hobart CBD. It is anchored by Coles, includes more than 50 specialty stores and a new format Woolworths will be opening in late 2022.
Property overview
| Property overview | |
|---|---|
| State | TAS |
| Centre type | Sub Regional |
| Ownership interest (%) | 100 |
| Date acquired | 2009 |
| Centre first opened | 1986 |
| Latest redevelopment | 1996 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 97.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.75 |
| Discount rate (%) | 7.25 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 19,476 |
| Number of tenants | 64 |
| Total Trade Area (000's) | 107 |
| Major tenants2 | Coles |
| Car spaces | 855 |
| Occupancy rate by GLA (%)3 | n.a. |
| Weighted average lease expiry by GLA (years) | 2.3 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5 Stars |
| NABERS Water rating | 3.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas.
3 Occupancy rate non-comparable for reporting purposes.
4 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 36%
Mini majors 13%
Specialties 37%
Other retail 4%
Non retail 10%
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Specialty store lease expiry profile by income
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FY23 [4] 44%
FY24 12%
FY25 19%
FY26 10%
FY27+ 14%
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43 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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----- Start of picture text -----
MELBOURNE
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ROXBURGH VILLAGE
BROADMEADOWS CENTRAL DFO UNI HILL
DFO ESSENDON
NORTHLAND
VICTORIA GARDENS SHOPPING CENTRE
SUNSHINE MARKETPLACE
EMPORIUM MELBOURNE
DFO SOUTH WHARF MYER BOURKE BOX HILL CENTRAL NORTH
ALTONA GATE STREET BOX HILL CENTRAL SOUTH
CHADSTONE THE GLEN
OAKLEIGH CENTRAL
DFO MOORABBIN
CRANBOURNE PARK
BAYSIDE
MORNINGTON
CENTRAL
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VICTORIA
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l Wholly-owned
¢ Jointly-owned
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Chadstone, VIC
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VICTORIA
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|||
|---|---|
|Altona Gate|46|
|Bayside|47|
|Box Hill Central North|48|
|Box Hill Central South|49|
|Broadmeadows Central|50|
|Chadstone|51|
|Cranbourne Park|52|
|DFO Essendon|53|
|DFO Moorabbin|54|
|DFO South Wharf|55|
|DFO Uni Hill|56|
|Emporium Melbourne|57|
|Mornington Central|58|
|Myer Bourke Street|59|
|Northland|60|
|Oakleigh Central|61|
|Roxburgh Village|62|
|Sunshine Marketplace|63|
|The Glen|64|
|Victoria Gardens Shopping Centre|65|
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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ALTONA GATE
Wurundjeri, Bunurong, Boon Wurrung Country
124-134 Millers Road, Altona North VIC 3025 altonagate.com.au
Altona Gate is a four level Sub Regional shopping centre located approximately 13 kilometres west of the Melbourne CBD. The centre is anchored by Kmart, ALDI and Coles and comprises more than 45 specialty stores. Development works have recently taken place to revitalise the centre with new ambience and presentation upgrades. The new look centre includes a range of new specialty and dining retailers such as Platypus, House, Bed Bath N' Table and an expanded Sacca's Fine Foods.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | Sub Regional |
| Ownership interest (%) | 100 |
| Date acquired | 1994 |
| Centre first opened | 1977 |
| Latest redevelopment | 2014 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 112.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.00 |
| Discount rate (%) | 6.50 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 26,322 |
| Number of tenants | 66 |
| Total Trade Area (000's) | 155 |
| Major tenants2 | ALDI, Coles, Kmart |
| Car spaces | 1,622 |
| Occupancy rate by GLA (%) | 99.2 |
| Weighted average lease expiry by GLA (years) | 4.5 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5 Stars |
| NABERS Water rating | 5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 20%
Discount department stores 30%
Mini majors 18%
Specialties 22%
Other retail 8%
Non retail 2%
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Specialty store lease expiry profile by income
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FY23 [3] 4%
FY24 15%
FY25 29%
FY26 15%
FY27+ 37%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
46
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BAYSIDE
Bunurong Country
28 Beach Street, Frankston VIC 3199 baysidesc.com.au
Bayside is a three level Major Regional shopping centre located in the heart of Frankston, approximately 53 kilometres south of the Melbourne CBD. It is anchored by Myer, Kmart, Target, ALDI, Coles, Woolworths and HOYTS Cinemas. The centre includes more than 145 specialty stores and a vibrant food and entertainment precinct.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | Major Regional |
| Ownership interest (%) | 100 |
| Date acquired | 1994 |
| Centre first opened | 1971 |
| Latest redevelopment | 2011 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 435.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.25 |
| Discount rate (%) | 7.00 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 89,741 |
| Number of tenants | 188 |
| Total Trade Area (000's) | 497 |
| Major tenants2 | ALDI, Coles, HOYTS |
| Cinemas, Kmart, | |
| Myer,Target,Woolworths | |
| Car spaces | 3,430 |
| Occupancy rate by GLA (%) | 99.5 |
| Weighted average lease expiry by GLA (years) | 3.4 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5.5 Stars |
| NABERS Water rating | 5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Specialty store lease expiry profile by income
Tenant mix by gross lettable area (GLA)
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Supermarkets 11% FY23 [3] 38%
Discount department stores 17% FY24 19%
Department stores 19% FY25 13%
Mini majors 16%
FY26 11%
Specialties 22%
FY27+ 19%
Other retail 10%
Non retail 6%
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47 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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BOX HILL CENTRAL NORTH
Wurundjeri, Bunurong, Boon Wurrung Country
17-21 Market Street, Box Hill VIC 3128
boxhillcentral.com.au
Box Hill Central North is a two level Sub Regional shopping centre adjacent to Box Hill Central South, approximately 15 kilometres east of the Melbourne CBD. Council approval has been received for a proposed mixed-use development, paving the way for office and residential towers, complemented by a new town square.
Property overview
Property metrics
| Property overview | Property metrics | ||
|---|---|---|---|
| State | VIC | Gross lettable area (GLA) (sqm) | 14,639 |
| Centre type | Sub Regional | Number of tenants | 69 |
| Ownership interest (%) | 100 | Total Trade Area (000's) | 176 |
| Date acquired | 2001 | Major tenants3,4 | – |
| Centre first opened | 1975 | Car spaces | 866 |
| Latest redevelopment | 2007 | Occupancy rate by GLA (%)5 | n.a. |
| Valuation External/Internal | External | Weighted average lease expiry by GLA (years) | 2.5 |
| Valuation ($m)1 | 125.0 | Green Star – Performance | 3 Stars |
| Valuation date | Jun-22 | NABERS Energy rating | 2 Stars |
| Capitalisation rate (%)2 | n.a. | NABERS Water rating | 0 Star |
| Discount rate (%)2 | n.a. |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Capitalisation and discount rates not available as the valuation was derived on a project related site assessment method (mixed-use project).
3 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas.
4 Coles will vacate Box Hill Central North in August 2022, opening at Box Hill Central South in September 2022. Tenant mix GLA is as at 30 Jun 2022 and has not been adjusted for these changes. 5 Occupancy rate non-comparable for reporting purposes.
6 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 4 32%
Mini majors 4%
Specialties 41%
Other retail 5%
Non retail 19%
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Specialty store lease expiry profile by income
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FY23 [6] 33%
FY24 34%
FY25 29%
FY26 0%
FY27+ 4%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results 48
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BOX HILL CENTRAL SOUTH
Wurundjeri, Bunurong, Boon Wurrung Country 1 Main Street, Box Hill VIC 3128 boxhillcentral.com.au
Box Hill Central South is a single level Sub Regional shopping centre located above Box Hill train station, adjacent to Box Hill Central North, approximately 15 kilometres east of the Melbourne CBD. It is anchored by Woolworths and a new format Coles (opening September 2022) and includes more than 85 specialty stores. Once the development is completed, Box Hill Central South will include an exciting mix of major and specialty retailers, new restaurants with street frontage, new entrance, new kiosks, and new ambience upgrades. Also included as part of the development is a new commercial building being delivered for leading co-worker operator, Hub Australia.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | Sub Regional |
| Ownership interest (%) | 100 |
| Date acquired | 2000 |
| Centre first opened | 1987 |
| Latest redevelopment | 2022 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 248.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.75 |
| Discount rate (%) | 6.25 |
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 25,266 |
| Number of tenants | 106 |
| Total Trade Area (000's) | 176 |
| Major tenants2,3 | Coles, Woolworths |
| Car spaces | 1,502 |
| Occupancy rate by GLA (%)4 | n.a. |
| Weighted average lease expiry by GLA (years) | 3.6 |
| Green Star – Performance | 3 Stars |
| NABERS Energy rating | n.a. |
| NABERS Water rating | n.a. |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas.
3 Coles will vacate Box Hill Central North in August 2022, opening at Box Hill Central South in September 2022. Tenant mix GLA is as at 30 Jun 2022 and has not been adjusted for these changes. 4 Occupancy rate non-comparable for reporting purposes.
5 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 3 24%
Mini majors 14%
Specialties 50%
Other retail 1%
Non retail 10%
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Specialty store lease expiry profile by income
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FY23 [5] 38%
FY24 21%
FY25 21%
FY26 4%
FY27+ 16%
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49 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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BROADMEADOWS CENTRAL
Wurundjeri Country
1099-1169 Pascoe Vale Road, Broadmeadows VIC 3047 broadmeadowscentral.com.au
Broadmeadows Central is a single level Regional shopping centre with an adjacent Homemaker Centre located approximately 19 kilometres north-west of the Melbourne CBD. It is anchored by Kmart, ALDI, Coles, Woolworths and HOYTS Cinemas and includes more than 115 specialty stores. The centre also features family friendly amenities such as the 'Quiet Room', a sensory room for children and their parents.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | Regional |
| Ownership interest (%) | 100 |
| Date acquired | 1994 |
| Centre first opened | 1974 |
| Latest redevelopment | 2011 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 283.5 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.50 |
| Discount rate (%) | 7.00 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 61,206 |
| Number of tenants | 165 |
| Total Trade Area (000's) | 251 |
| Major tenants2 | ALDI, Coles, HOYTS |
| Cinemas, Kmart, | |
| Woolworths | |
| Car spaces | 3,051 |
| Occupancy rate by GLA (%) | 98.6 |
| Weighted average lease expiry by GLA (years) | 4.6 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5.5 Stars |
| NABERS Water rating | 5.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 15%
Discount department stores 13%
Mini majors 27%
Specialties 23%
Other retail 16%
Non retail 6%
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Specialty store lease expiry profile by income
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FY23 [3] 22%
FY24 22%
FY25 19%
FY26 9%
FY27+ 27%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
50
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CHADSTONE
Wurundjeri, Bunurong, Boon Wurrung Country
1341 Dandenong Road, Chadstone VIC 3148 chadstone.com.au, hotelchadstone.com.au
Chadstone is a two level Super Regional shopping centre located approximately 17 kilometres south-east of the Melbourne CBD. It is anchored by David Jones, Myer, Kmart, Target, ALDI, Coles, Woolworths and HOYTS Cinemas and includes more than 375 specialty stores. Chadstone hosts Australia's most expansive luxury offer, a large range of international and Australian flagship stores such as H&M, Morphe, UNIQLO and Zara, a LEGOLAND® Discovery Centre, a five-star Hotel, as well as a world-class food, lifestyle and entertainment precinct. Hotel Chadstone Melbourne features 250 luxury rooms, a rooftop bar, indoor swimming pool, wellness centre and extensive corporate conferencing facilities.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | Super Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | Gandel Group – 50 |
| Date acquired | 1994 |
| Centre first opened | 1960 |
| Latest redevelopment | 2017 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 6,275.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 3.88 |
| Discount rate (%) | 6.00 |
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 233,694 |
| Number of tenants | 479 |
| Total Trade Area (000's) | 2,432 |
| Major tenants2 | ALDI, Coles, David Jones, |
| HOYTS Cinemas, Kmart, | |
| Myer,Target,Woolworths | |
| Car spaces | 11,745 |
| Occupancy rate by GLA (%) | 99.5 |
| Weighted average lease expiry by GLA (years) | 4.9 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5.5 Stars |
| NABERS Water rating | 3 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 5%
Discount department stores 6%
Department stores 17%
Mini majors 21%
Specialties 24%
Other retail 6%
Non retail 22%
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Specialty store lease expiry profile by income
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FY23 [3] 32%
FY24 22%
FY25 18%
FY26 9%
FY27+ 19%
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51 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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CRANBOURNE PARK
Wurundjeri, Bunurong, Boon Wurrung Country
High Street, Cranbourne VIC 3977 cranbournepark.com.au
Cranbourne Park is a single level Regional shopping centre located approximately 51 kilometres south-east of the Melbourne CBD. It is anchored by Kmart, Target, Harris Scarfe and Coles and includes more than 90 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | ISPT Core Fund – 50 |
| Date acquired | 2000 |
| Centre first opened | 1979 |
| Latest redevelopment | 2015 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 295.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.75 |
| Discount rate (%) | 6.50 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 46,373 |
| Number of tenants | 125 |
| Total Trade Area (000's) | 294 |
| Major tenants2 | Coles, Harris Scarfe, |
| Kmart,Target | |
| Car spaces | 1,700 |
| Occupancy rate by GLA (%) | 98.3 |
| Weighted average lease expiry by GLA (years) | 5.6 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 3 Stars |
| NABERS Water rating | 4.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 12%
Discount department stores 34%
Mini majors 17%
Specialties 22%
Other retail 7%
Non retail 7%
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 47%
FY24 14%
FY25 8%
FY26 8%
FY27+ 24%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
52
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DFO ESSENDON
Wurundjeri Country
100 Bulla Road, Essendon Fields VIC 3041 essendon.dfo.com.au
DFO Essendon is a single level Outlet Centre located approximately 14 kilometres north of the Melbourne CBD. The centre comprises more than 100 outlet retailers including Coach, Furla, Hugo Boss, Polo Ralph Lauren, Salvatore Ferragamo and Ted Baker. The adjacent Homemaker Hub comprises over 20 large format stores.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | Outlet Centre |
| Ownership interest (%) | 100 |
| Date acquired | 2010 |
| Centre first opened | 2005 |
| Latest redevelopment | 2006 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 176.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.50 |
| Discount rate (%) | 6.75 |
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 52,411 |
| Number of tenants | 113 |
| Total Trade Area (000's) | 1,533 |
| Major tenants2 | – |
| Car spaces | 2,075 |
| Occupancy rate by GLA (%)3 | 100.0 |
| Weighted average lease expiry by GLA (years) | 2.0 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5.5 Stars |
| NABERS Water rating | 5.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas.
3 Occupancy data excludes Homemaker retailers.
4 Includes holdovers.
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Tenant mix by gross lettable area (GLA)
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Mini majors 16%
Specialties 84%
Non retail 1%
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Specialty store lease expiry profile by income
FY23 [4] 37%
FY24 20%
FY25 17%
FY26 8%
FY27+ 17%
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53 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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DFO MOORABBIN
Wurundjeri, Bunurong, Boon Wurrung Country
250 Centre Dandenong Road, Moorabbin Airport VIC 3194
moorabbin.dfo.com.au
DFO Moorabbin is a single level Outlet Centre located approximately 23 kilometres south-east of the Melbourne CBD. The centre comprises more than 105 outlet retailers including Adidas, Polo Ralph Lauren, Puma, Calvin Klein, Tommy Hilfiger, Oroton and Sheridan.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | Outlet Centre |
| Ownership interest (%) | 100 |
| Date acquired | 2010 |
| Centre first opened | 1994 |
| Latest redevelopment | 2007 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 102.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 8.00 |
| Discount rate (%) | 8.50 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 24,530 |
| Number of tenants | 122 |
| Total Trade Area (000's) | 1,688 |
| Major tenants2 | – |
| Car spaces | 1,362 |
| Occupancy rate by GLA (%) | 98.4 |
| Weighted average lease expiry by GLA (years) | 2.0 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5.5 Stars |
| NABERS Water rating | 5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Mini majors 25%
Specialties 74%
Non retail 1%
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Specialty store lease expiry profile by income
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FY23 [3] 31%
FY24 25%
FY25 21%
FY26 7%
FY27+ 16%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
54
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DFO SOUTH WHARF
Wurundjeri, Bunurong, Boon Wurrung Country
20 Convention Centre Place, South Wharf VIC 3006 south-wharf.dfo.com.au
DFO South Wharf is a multi-level Outlet Centre located on the Yarra River close to Docklands on the south-western fringe of Melbourne's CBD. The centre comprises more than 150 outlet retailers including Armani Outlet, Coach, Tommy Hilfiger and Michael Kors, as well as an exclusive collection of sporting and active apparel outlets including Nike, Adidas and Puma. With the adjoining Homemaker Hub comprising more than 12 large format stores, and the South Wharf Promenade including over 15 restaurants, bars and cafes, DFO South Wharf is a retail and dining destination for Melbourne residents and tourists.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | Outlet Centre |
| Ownership interest (%) | 100 |
| Date acquired* | 2010 |
| Centre first opened | 2009 |
| Latest redevelopment | 2016 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 665.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.50 |
| Discount rate (%) | 6.75 |
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 55,845 |
| Number of tenants | 148 |
| Total Trade Area (000's) | 2,862 |
| Major tenants2 | – |
| Car spaces | 3,104 |
| Occupancy rate by GLA (%)3 | 92.7 |
| Weighted average lease expiry by GLA (years) | 1.9 |
| Green Star – Performance | 3 Stars |
| NABERS Energy rating | 4 Stars |
| NABERS Water rating | 4.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
- Acquired 50% in 2010; acquired 25% in 2014 and acquired 25% in 2017.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas.
3 Occupancy data excludes Homemaker retailers.
4 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Mini majors 26%
Specialties 74%
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Specialty store lease expiry profile by income
FY23 [4] 40%
FY24 15%
FY25 20%
FY26 11%
FY27+ 14%
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55 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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DFO UNI HILL
Wurundjeri Country 2 Janefield Drive, Bundoora VIC 3083
unihill.dfo.com.au
DFO Uni Hill is a single level Outlet Centre located approximately 20 kilometres north of the Melbourne CBD. The centre comprises more than 80 outlet retailers including Nike, Adidas, Polo Ralph Lauren, Calvin Klein, Tommy Hilfiger, Country Road, Decjuba and Seed.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | Outlet Centre |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | MAB Corporation – 50 |
| Date acquired | 2020 |
| Centre first opened | 2008 |
| Latest redevelopment | 2014 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 150.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.00 |
| Discount rate (%) | 7.00 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 19,692 |
| Number of tenants | 93 |
| Total Trade Area (000's) | 858 |
| Major tenants2 | – |
| Car spaces | 880 |
| Occupancy rate by GLA (%) | 99.6 |
| Weighted average lease expiry by GLA (years) | 2.1 |
| Green Star – Performance | n.a. |
| NABERS Energy rating | 0 Star |
| NABERS Water rating | 5.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Mini majors 26%
Specialties 73%
Non retail 1%
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Specialty store lease expiry profile by income
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FY23 [3] 27%
FY24 18%
FY25 26%
FY26 11%
FY27+ 18%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
56
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EMPORIUM MELBOURNE
Wurundjeri, Bunurong, Boon Wurrung Country
287 Lonsdale Street, Melbourne VIC 3000 emporiummelbourne.com.au
Emporium Melbourne is a seven level City Centre located in the heart of Melbourne. Opened in 2014, Emporium Melbourne evolved a beautiful heritage building to the epicentre of Melbourne CBD retail. Emporium Melbourne is home to quality dining, one of the largest Australian designer precincts, international retailers, more than 145 specialty stores, and flagships UNIQLO, NBA Store and FORTRESS – Australia's first E-Sports venue.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | City Centre |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | GIC – 50 |
| Date acquired | 2007 |
| Centre first opened | 2014 |
| Latest redevelopment | n.a. |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 1,045.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 4.75 |
| Discount rate (%) | 6.00 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 44,763 |
| Number of tenants | 166 |
| Total Trade Area (000's) | 2,825 |
| Major tenants2 | – |
| Car spaces | – |
| Occupancy rate by GLA (%)3 | n.a. |
| Weighted average lease expiry by GLA (years) | 3.0 |
| Green Star – Performance | 3 Stars |
| NABERS Energy rating | 1 Stars |
| NABERS Water rating | 4.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas.
3 Occupancy rate non-comparable for reporting purposes.
4 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Mini majors 29%
Specialties 56%
Other retail 14%
Non retail 1%
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [4] 36%
FY24 16%
FY25 18%
FY26 12%
FY27+ 17%
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57 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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MORNINGTON CENTRAL
Bunurong Country 78 Barkly Street, Mornington VIC 3931 morningtoncentral.com.au
Mornington Central is a single level Sub Regional shopping centre located on the Mornington Peninsula, approximately 68 kilometres south-east of the Melbourne CBD. It is anchored by Coles, a newly opened Woolworths and Oasis, and more than 30 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | Sub Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | ISPT Retail Australia Property Trust – 50 |
| Date acquired* | 1999 |
| Centre first opened | 2000 |
| Latest redevelopment | 2022 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 94.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.50 |
| Discount rate (%) | 6.00 |
| Property metrics | ||
|---|---|---|
| Gross lettable area (GLA) (sqm) | 11,370 | |
| Number of tenants | 39 | |
| Total Trade Area (000's) | 71 | |
| Major tenants2 | Coles, Woolworths | |
| Car spaces | 503 | |
| Occupancy rate by GLA (%)3 | n.a. | |
| Weighted average lease expiry by GLA (years) | 6.8 | |
| Green Star – Performance | 4 Stars | |
| NABERS Energy rating | 4 Stars | |
| NABERS Water rating | 4.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
- Acquired 100% in 1999 and divested 50% in 2016.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas.
3 Occupancy rate non-comparable for reporting purposes.
4 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 63%
Mini majors 10%
Specialties 26%
Non retail 1%
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Specialty store lease expiry profile by income
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FY23 [4] 24%
FY24 19%
FY25 8%
FY26 3%
FY27+ 46%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
58
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MYER BOURKE STREET
Wurundjeri, Bunurong, Boon Wurrung Country
Bourke Street Mall, 314-336 Bourke Street, Melbourne VIC 3000
Myer Bourke Street has been operated by Myer as a department store since at least 1914. This nine-level City Centre in the retail heart of Melbourne's CBD has multilevel walkways connecting to Emporium Melbourne.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | City Centre |
| Ownership interest (%) | Vicinity Centres – 33 |
| Co-owner (%) | Abacus Funds Management Ltd – 33 |
| Charter Hall LongWale REIT – 33 | |
| Date acquired | 2007 |
| Centre first opened | 1914 |
| Latest redevelopment | 2011 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 405.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.00 |
| Discount rate (%) | 6.00 |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
-
1 Expressed on 100% basis.
-
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas.
Tenant mix by gross lettable area (GLA)
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Department stores 100%
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Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 39,924 |
| Number of tenants | 1 |
| Major tenants2 | Myer |
| Car spaces | 0 |
| Occupancy rate by GLA (%) | 100.0 |
| Weighted average lease expiry by GLA (years) | 9.5 |
| Green Star – Performance | n.a. |
| NABERS Energy rating | n.a. |
| NABERS Water rating | n.a. |
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
59
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NORTHLAND
Wurundjeri Country
2-50 Murray Road, Preston VIC 3072 northlandsc.com.au
Northland is a two level Major Regional shopping centre located approximately 13 kilometres north-east of the Melbourne CBD. It is anchored by Myer, Kmart, Target, ALDI, Coles, Woolworths and HOYTS Cinemas and includes international retailers H&M, JD Sports, Sephora, UNIQLO and more than 200 specialty stores. The centre is complemented by an outdoor entertainment and dining precinct and features facilities such as a 'Quiet Room' and Changing Places 'High Care Lounge'.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | Major Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | GPT Wholesale Shopping Centre Fund – 50 |
| Date acquired | 1994 |
| Centre first opened | 1966 |
| Latest redevelopment | 2014 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 805.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.50 |
| Discount rate (%) | 6.50 |
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 97,459 |
| Number of tenants | 243 |
| Total Trade Area (000's) | 543 |
| Major tenants2 | ALDI, Coles, HOYTS |
| Cinemas, Kmart, | |
| Myer,Target,Woolworths | |
| Car spaces | 4,640 |
| Occupancy rate by GLA (%) | 98.8 |
| Weighted average lease expiry by GLA (years) | 4.5 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | n.a. |
| NABERS Water rating | n.a. |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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----- Start of picture text -----
Supermarkets 11%
Discount department stores 14%
Department stores 20%
Mini majors 13%
Specialties 26%
Other retail 13%
Non retail 3%
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----- Start of picture text -----
Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 38%
FY24 22%
FY25 13%
FY26 8%
FY27+ 19%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
60
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OAKLEIGH CENTRAL
Wurundjeri, Bunurong, Boon Wurrung Country
39 Hanover Street, Oakleigh VIC 3166 oakleighcentral.com.au
Oakleigh Central is a single level Neighbourhood shopping centre located approximately 18 kilometres south-east of the Melbourne CBD. It is anchored by Coles and Woolworths and includes more than 25 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | Neighbourhood |
| Ownership interest (%) | 100 |
| Date acquired | 2003 |
| Centre first opened | 1987 |
| Latest redevelopment | 2008 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 90.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.25 |
| Discount rate (%) | 6.25 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 14,206 |
| Number of tenants | 38 |
| Total Trade Area (000's) | 46 |
| Major tenants2 | Coles, Woolworths |
| Car spaces | 600 |
| Occupancy rate by GLA (%) | 98.3 |
| Weighted average lease expiry by GLA (years) | 3.5 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5 Stars |
| NABERS Water rating | 4 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 66%
Mini majors 6%
Specialties 22%
Other retail 3%
Non retail 4%
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 41%
FY24 8%
FY25 12%
FY26 16%
FY27+ 23%
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61 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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ROXBURGH VILLAGE
Wurundjeri Country
250 Somerton Road, Roxburgh Park VIC 3064 roxburghvillage.com.au
Roxburgh Village is a single level Sub Regional shopping centre located approximately 23 kilometres north of the Melbourne CBD. It is anchored by ALDI and Coles and includes more than 40 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | Sub Regional |
| Ownership interest (%) | 100 |
| Date acquired | 1997 |
| Centre first opened | 1999 |
| Latest redevelopment | 2012 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 106.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.50 |
| Discount rate (%) | 7.00 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 24,738 |
| Number of tenants | 66 |
| Total Trade Area (000's) | 52 |
| Major tenants2 | ALDI, Coles |
| Car spaces | 1,096 |
| Occupancy rate by GLA (%)3 | n.a. |
| Weighted average lease expiry by GLA (years) | 4.4 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5 Stars |
| NABERS Water rating | 3.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas.
3 Occupancy rate non-comparable for reporting purposes.
4 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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----- Start of picture text -----
Supermarkets 38%
Mini majors 16%
Specialties 23%
Other retail 10%
Non retail 14%
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----- Start of picture text -----
Specialty store lease expiry profile by income
FY23 [4] 21%
FY24 21%
FY25 17%
FY26 7%
FY27+ 34%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
62
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SUNSHINE MARKETPLACE
Wurundjeri, Bunurong, Boon Wurrung Country
80 Harvester Road, Sunshine VIC 3020 sunshinemarketplace.com.au
Sunshine Marketplace is a single level Sub Regional shopping centre located approximately 14 kilometres west of the Melbourne CBD. It is anchored by Big W, Woolworths and Village Cinemas and includes more than 40 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | Sub Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | Private investor – 50 |
| Date acquired | 2003 |
| Centre first opened | 1997 |
| Latest redevelopment | 2004 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 131.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.00 |
| Discount rate (%) | 6.50 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 34,212 |
| Number of tenants | 64 |
| Total Trade Area (000's) | 177 |
| Major tenants2 | Big W, Village Cinemas, |
| Woolworths | |
| Car spaces | 1,741 |
| Occupancy rate by GLA (%) | 97.9 |
| Weighted average lease expiry by GLA (years) | 4.8 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5 Stars |
| NABERS Water rating | 5.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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----- Start of picture text -----
Supermarkets 14%
Discount department stores 21%
Mini majors 9%
Specialties 12%
Other retail 37%
Non retail 7%
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 42%
FY24 18%
FY25 23%
FY26 7%
FY27+ 9%
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63 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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THE GLEN
Wurundjeri, Bunurong, Boon Wurrung Country
235 Springvale Road, Glen Waverley VIC 3150 theglen.com.au
The Glen is a two level Major Regional shopping centre located in Glen Waverley, approximately 26 kilometres south-east of the Melbourne CBD. It is anchored by David Jones, Target, ALDI, Coles and Woolworths, with a fresh food market hall, more than 195 specialty stores and a beautiful outdoor dining precinct, set over two levels.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | Major Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | Perron Investments Pty Ltd – 50 |
| Date acquired | 1994 |
| Centre first opened | 1967 |
| Latest redevelopment | 2019 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 640.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.50 |
| Discount rate (%) | 6.75 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 76,949 |
| Number of tenants | 239 |
| Total Trade Area (000's) | 278 |
| Major tenants2 | ALDI, Coles, David Jones, |
| Target,Woolworths | |
| Car spaces | 3,321 |
| Occupancy rate by GLA (%) | 98.2 |
| Weighted average lease expiry by GLA (years) | 5.4 |
| Green Star – Performance | 3 Stars |
| NABERS Energy rating | 3.5 Stars |
| NABERS Water rating | 1 Star |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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----- Start of picture text -----
Supermarkets 14%
Discount department stores 9%
Department stores 11%
Mini majors 21%
Specialties 34%
Non retail 11%
----- End of picture text -----
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 8%
FY24 25%
FY25 25%
FY26 18%
FY27+ 24%
----- End of picture text -----
Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
64
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VICTORIA GARDENS SHOPPING CENTRE
Wurundjeri, Bunurong, Boon Wurrung Country
620 Victoria Street, Richmond VIC 3121
vicgardenssc.com.au
Victoria Gardens Shopping Centre is a multilevel Sub Regional centre located in Richmond, approximately 5 kilometres east of the Melbourne CBD. It is anchored by Kmart, Coles and HOYTS Cinemas and includes Rebel, Freedom Furniture and JB Hi-Fi, plus more than 45 specialty stores. The centre is located adjacent to an Ikea store (not owned) with access to the store provided through the centre. Victoria Gardens Shopping Centre was refurbished in 2019 with ambience and presentation upgrades, a complete food court makeover and new customer lounge areas in the mall.
Property overview
| Property overview | |
|---|---|
| State | VIC |
| Centre type | Sub Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | Salta Properties – 50 |
| Date acquired | 2003 |
| Centre first opened | 2003 |
| Latest redevelopment | n.a. |
| Valuation External/Internal | External |
| Valuation ($m)1 | 310.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.75 |
| Discount rate (%) | 6.50 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 38,011 |
| Number of tenants | 63 |
| Total Trade Area (000's) | 118 |
| Major tenants2 | Coles, |
| HOYTS Cinemas,Kmart | |
| Car spaces | 2,127 |
| Occupancy rate by GLA (%) | 98.6 |
| Weighted average lease expiry by GLA (years) | 5.3 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5 Stars |
| NABERS Water rating | 5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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----- Start of picture text -----
Supermarkets 14%
Discount department stores 21%
Mini majors 14%
Specialties 19%
Other retail 26%
Non retail 5%
----- End of picture text -----
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 30%
FY24 15%
FY25 21%
FY26 3%
FY27+ 30%
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65 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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----- Start of picture text -----
ELLENBROOK CENTRAL
WARWICK GROVE
DIANELLA PLAZA GALLERIA
DFO PERTH
VICTORIA PARK CENTRAL
MADDINGTON CENTRAL
LIVINGSTON MARKETPLACE
ROCKINGHAM CENTRE
MANDURAH FORUM
HALLS HEAD CENTRAL
KARRATHA CITY
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----- Start of picture text -----
PERTH
WESTERN AUSTRALIA
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l Wholly-owned
¢ Jointly-owned
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DFO Perth, WA
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WESTERN AUSTRALIA
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|||
|---|---|
|DFO Perth|68|
|Dianella Plaza|69|
|Ellenbrook Central|70|
|Galleria|71|
|Halls Head Central|72|
|Karratha City|73|
|Livingston Marketplace|74|
|Maddington Central|75|
|Mandurah Forum|76|
|Rockingham Centre|77|
|Victoria Park Central|78|
|Warwick Grove|79|
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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DFO PERTH
Whadjuk Country
11 High Street, Perth Airport WA 6105 perth.dfo.com.au
DFO Perth is a single level Outlet Centre located approximately 13 kilometres east of Perth CBD in the Perth Airport precinct. The centre comprises more than 100 international and Australian outlet retailers including Adidas, Calvin Klein, Coach, GANT, Kate Spade, Michael Kors, Polo Ralph Lauren, Steve Madden, Ted Baker and Tommy Hilfiger.
Property overview
| Property overview | |
|---|---|
| State | WA |
| Centre type | Outlet Centre |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | Perth Airport Development |
| GroupInvestments P/L – 50 | |
| Date acquired | 2016 |
| Centre first opened | 2018 |
| Latest redevelopment | n.a. |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 244.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.75 |
| Discount rate (%) | 7.00 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 23,730 |
| Number of tenants | 112 |
| Total Trade Area (000's) | 1,959 |
| Major tenants2 | – |
| Car spaces | 1,621 |
| Occupancy rate by GLA (%) | 98.5 |
| Weighted average lease expiry by GLA (years) | 1.9 |
| Green Star – Performance | 3 Stars |
| NABERS Energy rating | 4.5 Stars |
| NABERS Water rating | 3.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
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Tenant mix by gross lettable area (GLA)
Mini majors 20%
Specialties 80%
Non retail 1%
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Specialty store lease expiry profile by income
FY23 [3] 5%
FY24 62%
FY25 13%
FY26 12%
FY27+ 8%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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DIANELLA PLAZA
Whadjuk Country
366 Grand Promenade, Dianella WA 6059 dianellaplaza.com.au
Dianella Plaza is a single level Neighbourhood shopping centre located approximately 8 kilometres north of the Perth CBD. It is anchored by Coles and Woolworths and includes more than 35 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | WA |
| Centre type | Neighbourhood |
| Ownership interest (%) | 100 |
| Date acquired | 2003 |
| Centre first opened | 1968 |
| Latest redevelopment | 2002 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 76.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.25 |
| Discount rate (%) | 6.75 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 17,147 |
| Number of tenants | 53 |
| Total Trade Area (000's) | 53 |
| Major tenants2 | Coles, Woolworths |
| Car spaces | 900 |
| Occupancy rate by GLA (%) | 94.4 |
| Weighted average lease expiry by GLA (years) | 1.7 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5.5 Stars |
| NABERS Water rating | 3.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 51%
Mini majors 6%
Specialties 24%
Other retail 17%
Non retail 1%
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 33%
FY24 18%
FY25 17%
FY26 14%
FY27+ 19%
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69 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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ELLENBROOK CENTRAL
Whadjuk Country
11 Main Street, Ellenbrook WA 6069 ellenbrookcentral.com.au
Ellenbrook Central is a single level Regional shopping centre located approximately 30 kilometres north-east of the Perth CBD. The recently expanded centre is anchored by Big W, Kmart, ALDI, Coles and Woolworths and includes more than 80 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | WA |
| Centre type | Regional |
| Ownership interest (%) | 100 |
| Date acquired | 2015 |
| Centre first opened | 2004 |
| Latest redevelopment | 2019 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 270.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.75 |
| Discount rate (%) | 6.75 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 47,308 |
| Number of tenants | 115 |
| Total Trade Area (000's) | 72 |
| Major tenants2 | ALDI, Big W, Coles, |
| Kmart,Woolworths | |
| Car spaces | 2,727 |
| Occupancy rate by GLA (%)3 | n.a. |
| Weighted average lease expiry by GLA (years) | 5.3 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 4.5 Stars |
| NABERS Water rating | 5.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas.
3 Occupancy rate non-comparable for reporting purposes.
4 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 22%
Discount department stores 32%
Mini majors 10%
Specialties 18%
Other retail 14%
Non retail 3%
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [4] 32%
FY24 15%
FY25 11%
FY26 12%
FY27+ 30%
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GALLERIA
Whadjuk Country
Corner Collier and Walter Roads, Morley WA 6062 galleriashoppingcentre.com.au
Galleria is a two level Major Regional shopping centre located approximately 9 kilometres north-east of the Perth CBD. It is anchored by Myer, Kmart, Target, ALDI, Coles, Woolworths and Greater Union Cinemas and includes more than 125 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | WA |
| Centre type | Major Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | Perron Investments Pty Ltd – 50 |
| Date acquired | 2003 |
| Centre first opened | 1994 |
| Latest redevelopment | 2008 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 450.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.00 |
| Discount rate (%) | 6.50 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 75,566 |
| Number of tenants | 162 |
| Total Trade Area (000's) | 381 |
| Major tenants2 | ALDI, Coles, Greater |
| Union, Kmart, Myer, | |
| Target,Woolworths | |
| Car spaces | 3,999 |
| Occupancy rate by GLA (%) | 95.0 |
| Weighted average lease expiry by GLA (years) | 3.3 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 4 Stars |
| NABERS Water rating | 4 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 14%
Discount department stores 25%
Department stores 20%
Mini majors 5%
Specialties 20%
Other retail 11%
Non retail 4%
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Specialty store lease expiry profile by income
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FY23 [3] 69%
FY24 4%
FY25 1%
FY26 13%
FY27+ 13%
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71 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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HALLS HEAD CENTRAL
Bindjareb Country
14 Guava Way, Halls Head WA 6210 hallsheadcentral.com.au
Halls Head Central is a single level Sub Regional shopping centre located approximately 4 kilometres south-west of Mandurah. The centre is anchored by Kmart, ALDI and Coles as well as an enhanced fashion offer, family-friendly alfresco dining precinct and playground, and more than 35 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | WA |
| Centre type | Sub Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | ISPT Core Fund – 50 |
| Date acquired | 2001 |
| Centre first opened | 2001 |
| Latest redevelopment | 2016 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 83.6 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.50 |
| Discount rate (%) | 7.00 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 19,369 |
| Number of tenants | 49 |
| Total Trade Area (000's) | 54 |
| Major tenants2 | ALDI, Coles, Kmart |
| Car spaces | 960 |
| Occupancy rate by GLA (%) | 95.2 |
| Weighted average lease expiry by GLA (years) | 4.9 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5 Stars |
| NABERS Water rating | 5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 30%
Discount department stores 36%
Mini majors 4%
Specialties 27%
Other retail 2%
Non retail 1%
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 55%
FY24 19%
FY25 5%
FY26 9%
FY27+ 11%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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KARRATHA CITY
Ngarluma Country
16 Sharpe Avenue, Karratha WA 6714 karrathacitysc.com.au
Karratha City is a single level Sub Regional shopping centre located in regional northern Western Australia. It is anchored by Kmart, Coles and Woolworths as well as Karratha Furniture & Bedding, Red Dot, Retravision, The Reject Shop and more than 35 specialty stores. In 2021, Karratha City switched to solar with a new state-of-the-art solar energy system which helps to power the centre.
Property overview
| Property overview | |
|---|---|
| State | WA |
| Centre type | Sub Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | Private investor – 50 |
| Date acquired | 2003 |
| Centre first opened | 1986 |
| Latest redevelopment | 2005 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 96.2 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 7.50 |
| Discount rate (%) | 8.00 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 22,865 |
| Number of tenants | 52 |
| Total Trade Area (000's) | 22 |
| Major tenants2 | Coles, Kmart, Woolworths |
| Car spaces | 1,275 |
| Occupancy rate by GLA (%) | 98.5 |
| Weighted average lease expiry by GLA (years) | 4.1 |
| Green Star – Performance | 3 Stars |
| NABERS Energy rating | 4 Stars |
| NABERS Water rating | 3 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 36%
Discount department stores 27%
Mini majors 12%
Specialties 17%
Other retail 5%
Non retail 3%
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 31%
FY24 37%
FY25 1%
FY26 19%
FY27+ 12%
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73 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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LIVINGSTON MARKETPLACE
Whadjuk Country
Corner Ranford and Nicholson Roads, Canning Vale WA 6155 livingstonmarketplace.com.au
Livingston Marketplace is a single level Sub Regional shopping centre located in the Perth suburb of Canning Vale, approximately 21 kilometres south of the Perth CBD. It is anchored by Big W and Woolworths and includes more than 30 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | WA |
| Centre type | Sub Regional |
| Ownership interest (%) | 100 |
| Date acquired | 2015 |
| Centre first opened | 1998 |
| Latest redevelopment | 2004 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 88.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.75 |
| Discount rate (%) | 6.75 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 15,603 |
| Number of tenants | 49 |
| Total Trade Area (000's) | 111 |
| Major tenants2 | Big W, Woolworths |
| Car spaces | 1,004 |
| Occupancy rate by GLA (%) | 100.0 |
| Weighted average lease expiry by GLA (years) | 2.7 |
| Green Star – Performance | 3 Stars |
| NABERS Energy rating | 6 Stars |
| NABERS Water rating | 3 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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----- Start of picture text -----
Supermarkets 28%
Discount department stores 42%
Specialties 19%
Other retail 5%
Non retail 5%
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----- Start of picture text -----
Specialty store lease expiry profile by income
FY23 [3] 17%
FY24 25%
FY25 29%
FY26 6%
FY27+ 23%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results 74
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MADDINGTON CENTRAL
Whadjuk Country
Corner Burslem Drive and Attfield Street, Maddington WA 6109 maddingtoncentral.com.au
Maddington Central is a single level Sub Regional shopping centre located approximately 18 kilometres south-east of the Perth CBD. It is anchored by Kmart, Coles and Woolworths and includes more than 60 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | WA |
| Centre type | Sub Regional |
| Ownership interest (%) | 100 |
| Date acquired | 2002 |
| Centre first opened | 1980 |
| Latest redevelopment | 2004 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 101.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 7.00 |
| Discount rate (%) | 7.50 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 27,886 |
| Number of tenants | 80 |
| Total Trade Area (000's) | 178 |
| Major tenants2 | Coles, Kmart, Woolworths |
| Car spaces | 2,144 |
| Occupancy rate by GLA (%) | 97.6 |
| Weighted average lease expiry by GLA (years) | 2.9 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 4 Stars |
| NABERS Water rating | 3.5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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----- Start of picture text -----
Supermarkets 33%
Discount department stores 28%
Mini majors 9%
Specialties 22%
Other retail 3%
Non retail 5%
----- End of picture text -----
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 37%
FY24 13%
FY25 20%
FY26 16%
FY27+ 14%
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75 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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MANDURAH FORUM
Bindjareb Country
330 Pinjarra Road, Mandurah WA 6210 mandurahforum.com.au
Mandurah Forum is a single level Major Regional shopping centre located in the regional city of Mandurah. The centre is anchored by David Jones, Big W, Kmart, Target, Coles and Woolworths. There is a fresh food hall, large indoor/outdoor food court, a casual alfresco dining precinct, a premium fashion mall including H&M, Seed and Mecca Maxima and more than 155 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | WA |
| Centre type | Major Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | ISPT Core Fund – 50 |
| Date acquired | 1985 |
| Centre first opened | 1983 |
| Latest redevelopment | 2018 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 435.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.25 |
| Discount rate (%) | 7.00 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 66,248 |
| Number of tenants | 193 |
| Total Trade Area (000's) | 128 |
| Major tenants2 | Big W, Coles, |
| David Jones, | |
| Kmart, Target, | |
| Woolworths | |
| Car spaces | 3,076 |
| Occupancy rate by GLA (%) | 95.8 |
| Weighted average lease expiry by GLA (years) | 4.9 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5 Stars |
| NABERS Water rating | 3 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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----- Start of picture text -----
Supermarkets 14%
Discount department stores 29%
Department stores 7%
Mini majors 11%
Specialties 30%
Other retail 6%
Non retail 3%
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Specialty store lease expiry profile by income
==> picture [260 x 67] intentionally omitted <==
----- Start of picture text -----
FY23 [3] 44%
FY24 28%
FY25 17%
FY26 3%
FY27+ 9%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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ROCKINGHAM CENTRE
Whadjuk Country
1 Council Avenue, Rockingham WA 6168 rockinghamcentre.com.au
Rockingham Centre is a single level Regional shopping centre located approximately 47 kilometres south-west of the Perth CBD, in the gateway to WA's growing south-west corridor. It is anchored by Kmart, Target, Coles, Woolworths and Ace Cinemas and includes more than 135 specialty stores. Rockingham Centre opens out to Syren Street, the premier alfresco dining and leisure precinct for the area.
Property overview
| Property overview | |
|---|---|
| State | WA |
| Centre type | Regional |
| Ownership interest (%) | Vicinity Centres – 50 |
| Co-owner (%) | AMP Capital Shopping Centre Fund – 50 |
| Date acquired | 2002 |
| Centre first opened | 1971 |
| Latest redevelopment | 2009 |
| Valuation External/Internal | External |
| Valuation ($m)1 | 445.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.75 |
| Discount rate (%) | 7.00 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 61,094 |
| Number of tenants | 184 |
| Total Trade Area (000's) | 226 |
| Major tenants2 | Ace Cinemas, |
| Coles, Kmart, | |
| Target,Woolworths | |
| Car spaces | 3,229 |
| Occupancy rate by GLA (%) | 96.8 |
| Weighted average lease expiry by GLA (years) | 3.6 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 5 Stars |
| NABERS Water rating | 3 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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----- Start of picture text -----
Supermarkets 13%
Discount department stores 26%
Mini majors 19%
Specialties 26%
Other retail 9%
Non retail 7%
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Specialty store lease expiry profile by income
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----- Start of picture text -----
FY23 [3] 34%
FY24 20%
FY25 17%
FY26 9%
FY27+ 20%
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77 Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
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VICTORIA PARK CENTRAL
Whadjuk Country
366 Albany Highway, Victoria Park WA 6101 vicparkcentral.com.au
Victoria Park Central is a single level Neighbourhood shopping centre located approximately 6 kilometres south-east of the Perth CBD. It is anchored by Woolworths and includes more than 20 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | WA |
| Centre type | Neighbourhood |
| Ownership interest (%) | 100 |
| Date acquired | 2004 |
| Centre first opened | 2004 |
| Latest redevelopment | n.a. |
| Valuation External/Internal | External |
| Valuation ($m)1 | 27.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 5.50 |
| Discount rate (%) | 6.25 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 5,771 |
| Number of tenants | 25 |
| Total Trade Area (000's) | 44 |
| Major tenants2 | Woolworths |
| Car spaces | 225 |
| Occupancy rate by GLA (%) | 96.7 |
| Weighted average lease expiry by GLA (years) | 2.6 |
| Green Star – Performance | 3 Stars |
| NABERS Energy rating | 3.5 Stars |
| NABERS Water rating | 0 Star |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
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----- Start of picture text -----
Tenant mix by gross lettable area (GLA)
Supermarkets 56%
Specialties 38%
Non retail 6%
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----- Start of picture text -----
Specialty store lease expiry profile by income
FY23 [3] 27%
FY24 24%
FY25 16%
FY26 17%
FY27+ 17%
----- End of picture text -----
Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
78
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WARWICK GROVE
Whadjuk Country
Corner Beach and Erindale Roads, Warwick WA 6024 warwickgrove.com.au
Warwick Grove is a single level Sub Regional shopping centre located approximately 15 kilometres north of the Perth CBD. It is anchored by Kmart, ALDI, Coles, Woolworths and Grand Cinemas and includes more than 60 specialty stores.
Property overview
| Property overview | |
|---|---|
| State | WA |
| Centre type | Sub Regional |
| Ownership interest (%) | 100 |
| Date acquired | 2001 |
| Centre first opened | 1974 |
| Latest redevelopment | 2003 |
| Valuation External/Internal | Internal |
| Valuation ($m)1 | 173.0 |
| Valuation date | Jun-22 |
| Capitalisation rate (%) | 6.50 |
| Discount rate (%) | 7.25 |
Property metrics
| Property metrics | |
|---|---|
| Gross lettable area (GLA) (sqm) | 32,117 |
| Number of tenants | 91 |
| Total Trade Area (000's) | 105 |
| Major tenants2 | ALDI, Coles, |
| Grand Cinemas, | |
| Kmart,Woolworths | |
| Car spaces | 1,547 |
| Occupancy rate by GLA (%) | 99.7 |
| Weighted average lease expiry by GLA (years) | 5.0 |
| Green Star – Performance | 4 Stars |
| NABERS Energy rating | 4.5 Stars |
| NABERS Water rating | 5 Stars |
Note: Some asset metrics have not been reported this period due to COVID-19 impacts.
1 Expressed on 100% basis.
2 Classified in accordance with SCCA guidelines, typically includes department stores, discount department stores, supermarkets and cinemas. 3 Includes holdovers.
Tenant mix by gross lettable area (GLA)
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Supermarkets 29%
Discount department stores 23%
Mini majors 1%
Specialties 22%
Other retail 21%
Non retail 5%
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Specialty store lease expiry profile by income
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FY23 [3] 30%
FY24 25%
FY25 16%
FY26 16%
FY27+ 13%
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Vicinity Centres Direct Portfolio Property Book 2022 Annual Results
79
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