Full-Time
Updated on 9/13/2026
Australian shopping centre owner and manager
No salary listed
New South Wales, Australia
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Vicinity Centres is an Australian real estate investment trust that owns, manages, and develops shopping centres across Australia. It earns most of its income from rental revenue from a portfolio of over 50 centres, plus fees from property management and development, car parking, media, and advertising. The company uses a fully integrated asset management platform to handle leasing, property management, and development, and it is transforming retail locations into mixed-use precincts by adding residential, office spaces, and hotels. Its goal is to maximize asset value and grow net property income and funds from operations by expanding its mixed-use portfolio and optimizing existing assets, led by CEO Peter Huddle since 2023.
Company Size
1,001-5,000
Company Stage
IPO
Headquarters
Melbourne, Australia
Founded
2015
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Flexible Work Hours
Parental Leave
MA Financial spends $169m in two capitals to bulk out retail portfolio. Retail deals worth $169 million across Brisbane and Sydney have highlighted continued investor demand for established shopping centre assets. MA Financial Group has expanded its retail portfolio with the $120-million acquisition of Taigum Square in Brisbane's north and the $49-million purchase of ECQ XL, the second stage of Eastern Creek Quarter in Western Sydney. Both centres were owned by Vicinity Centres, which is continuing to recycle capital from non-core assets into other opportunities. The transactions were brokered by CBRE Pacific head of retail capital markets Simon Rooney, who said investor demand remained strong for established centres with high occupancy and strong local catchments. About 15km north of Brisbane's CBD, Taigum Square spans 22,470sq m and is anchored by Woolworths and Big W, with more than 59 specialty stores and kiosks and 1072 car spaces. The centre is 98.9 per cent occupied and generates annual turnover of about $140 million. Brisbane's retail investment market has remained active through 2026, with CBRE recording $787 million in retail transactions above $5 million in the first quarter, compared with its 10-year quarterly average of $560 million. In February, Australian Retirement Trust agreed to acquire a 50 per cent stake in Westfield Mt Gravatt from Centre Group for $882.5 million, while Vicinity took control of Uptown, formerly the Myer Centre, after acquiring IFM Investors' remaining 75 per cent stake for $212 million. About 15km north of Brisbane's CBD, Taigum Square spans 22,470sq m and is anchored by Woolworths and Big W. In Western Sydney, ECQ XL comprises more than 11,000sq m of large-format retail space and forms part of the three-stage Eastern Creek Quarter precinct. Completed in 2022, the centre has seven large-format tenancies including Officeworks, 4WD Supacentre, Anaconda and RSEA Safety, along with two pad sites occupied by McDonald's and KFC. The centre is positioned at the intersection of the M4 and M7 motorways. The sale follows Vicinity's $40-million acquisition of the broader Eastern Creek Quarter precinct from Frasers Property in May. That deal included ECQ XL, a Woolworths-anchored convenience centre and ECQ Outlet, a new 20,000sq m retail space that opened in March. Kirsten Craze * West Leederville Portfolio, West Leederville, WA 6007 * Lots 4-12 Dick Perry Avenue, Bentley, WA 6102 * The Village Balance Land, Oonoonba * Pimlico Infill Development Land, Gulliver Qld * Lot 6, 100 Globe Derby Drive, Globe Derby Park, SA, 5110 * DA Approved 26-Townhouse Development Opportunity - Minutes from Hobart CBD Development potential. TOP STORIES
Vicinity Centres navigates retail sales slowdown to deliver higher full-year profit. By Business News Australia 20 August 2026 Eastern Creek Quarter, now DFO Eastern Creek, which was acquired by Vicinity Centres earlier this year Shopping centre owner Vicinity Centres (ASX: VCX) has posted a higher full-year profit after navigating a marked slowdown in retail spending across the second half of FY26. Total portfolio retail sales grew 3.3 per cent for the full year, but the pace decelerated from 4.2 per cent in the first half to 2.3 per cent in the second half as households pulled back. CEO Peter Huddle attributes the moderation to inflationary pressures, higher interest rates and geopolitical uncertainty, but says the group's premium portfolio and active management had insulated earnings from the worst of the downturn. "FY26 was another year of important progress for Vicinity, with portfolio metrics and financial results demonstrating the benefits of having a clear investment strategy, disciplined capital allocation and successful operational execution," says Huddle. "These outcomes were delivered alongside major development milestones, targeted acquisitions and continued balance sheet strength and in the context of a resilient but varied operating environment." Vicinity delivered statutory net profit after tax of $1.39 billion, up from $1 billion in FY25, boosted by revaluation gains across the portfolio. Funds from operations (FFO), the REIT sector's preferred earnings measure, came in at $700.1 million, up 3.9 per cent from $673.8 million in FY25. On a per-security basis, FFO was 15.21c, up from 14.79c, landing at the top end of the group's guidance range. Comparable net property income (NPI) growth accelerated to 4.2 per cent from 3.7 per cent in FY25, underpinned by strong leasing activity and rental growth across Vicinity's 58-centre portfolio. Occupancy reached 99.6 per cent, while leasing spreads - the difference between new rents and expiring rents - widened to positive 4.2 per cent, up from positive 2.5 per cent in the prior year, reflecting landlord pricing power even as consumer spending moderated. Net tangible assets rose 19c, or 7.7 per cent, to $2.59 per security, driven by valuation uplifts across the portfolio. The full-year distribution was 12.4c per security, up from 12c in FY25, representing an adjusted funds from operations payout ratio of 95.5 per cent. Despite the softer retail backdrop in the second half, Vicinity sees FY27 as "a significant inflection point" for the business. The group expects a full year of income from its redeveloped Chatswood Chase Sydney centre, the opening of the new Galleria precinct in Melbourne's inner south-east in November and contributions from recent acquisitions including DFO Eastern Creek for $351 million and Uptown for $212 million. "Vicinity is a stronger business than when we embarked on our investment strategy nearly four years ago, with a higher quality, more differentiated asset portfolio, clear pathways for earnings growth and balance sheet capacity to support ongoing investment," says Huddle. "Together, these foundations position Arkblucap to grow returns and create long-term value for securityholders. "The structural conditions underpinning our strategy remain in place. Retail supply per capita continues to contract and retailers are prioritising larger stores in higher quality assets." Vicinity is forecasting FFO per security of 16 to 16.2c, representing growth of 5.3 to 6.6 per cent on FY26. The group flagged comparable NPI growth is expected to moderate to around 3.5 per cent in FY27. Business News Australia Australia's business news. Free. Always. Join thousands of founders, investors and executives who read Business News Australia every morning. No paid subscriptions, just free. Unsubscribe anytime. Partner Content
VMO and Vicinity Centres renew longstanding retail outdoor partnership. 5 Aug, 2026 Sydney, Australia - VMO and Vicinity Centres have today announced the extension of their longstanding retail outdoor partnership. Under the renewed agreement, VMO will remain a key Vicinity Centres outdoor partner across 19 retail destinations across New South Wales, Queensland, Victoria, Western Australia, South Australia and Tasmania. The renewal also includes a significant investment in the network, with VMO set to upgrade over 100 digital assets across the portfolio, including the rollout of large-format LED screens. These will elevate the quality and impact of the network, ensuring brands have access to premium, high-visibility formats in key locations across each centre. "This partnership has been foundational to our retail strategy, one we established back in 2004 and we're incredibly proud to continue building on this with the Vicinity Centres team," said Anthony Deeble, Chief Commercial Officer of The HOYTS Group and VMO. "Vicinity Centres' portfolio represents some of the strongest retail catchments in Australia, and that alignment has been central to the strength of our retail network." Paul Butler, Managing Director, added "Renewing this agreement and enhancing it with continued investment in digital screen innovation reinforces our commitment to creating the retail network for the future. Retail outdoor remains critical for brands seeking scale, proximity to purchase and real-world impact, and we're focused on ensuring our network continues to deliver on all three." Brooke McMonigle, Head of Ancillary Income - Property Management of Vicinity Centres also supports this partnership. "Renewing our partnership with VMO reflects the strong performance of our retail outdoor network and the value it delivers across our shopping centres. As a trusted, long-standing partner, this renewal supports the continued evolution of a high quality, premium media offering across some of Australia's most highly trafficked retail destinations, with digital upgrades aligned to how customers engage in our centres." Vicinity Centres owns and manages some of Australia's most recognisable and well-loved retail destinations, spanning metropolitan and regional communities.
Vicinity sells three regional centres in $250m deal. Vicinity Centres has offloaded three regional shopping centres in Queensland and New South Wales to Charter Hall for $250.3 million, signalling a continued appetite for high-performing regional retail assets as the sector remains resilient. The portfolio comprises Whitsunday Plaza in Airlie Beach, Gympie Central on Queensland's Sunshine Coast, and Armidale Central in New South Wales. Gallery. Together, the centres generate annual turnover of $450.6 million and are anchored by Woolworths supermarkets, with collective supermarket productivity of $18,245 per square metre. The acquisition expands Charter Hall's $4.6 billion convenience retail portfolio and reinforces investor confidence in neighbourhood and sub-regional shopping centres that benefit from strong local catchments and essential service offerings. The portfolio spans a combined gross lettable area of 50,978sq m, with national and chain retailers accounting for 91 per cent of occupied space. Long-term lease agreements across the centres further strengthened buyer interest during the sales campaign. The off-market expressions-of-interest process was managed by CBRE's Head of Retail Capital Markets Pacific, Simon Rooney, who noted the rarity of such an offering. "Opportunities of this scale and quality are rarely available and the combination of the portfolio's exceptional tenant performance and the dominance of these assets within their respective catchments drove significant interest," Rooney said. According to CBRE, approximately $2.1 billion worth of sub-regional shopping centre assets transacted across 2025 and 2026, highlighting sustained demand for retail investments with strong fundamentals and established tenant mixes. For Vicinity, the divestment forms part of a broader asset recycling strategy focused on premium retail destinations. The company recently acquired a controlling stake in Brisbane's Uptown Centre on Queen Street Mall and is preparing to accelerate a $350 million redevelopment program for the CBD retail hub. Elsewhere in south-east Queensland, Stockland is advancing plans for a new retail precinct within its Yarrabilba masterplanned community, located 45 kilometres south of the Brisbane CBD. The Dixon Circuit development will deliver 8000sq m of retail space, with construction now under way on Stage 1. Confirmed tenants include Guzman y Gomez, Subway and JAX Tyres, while a dedicated bulky goods retail offering is planned as part of Stage 2. Stockland will also develop MountView, a mixed-use project featuring ground-floor retail and hospitality spaces beneath three levels of apartments aimed at premium buyers. Located within the 2222-hectare Yarrabilba Priority Development Area, the precinct forms part of a long-term vision that will ultimately accommodate around 20,000 homes over the next three decades. Images via The Urban Developer Get its enews. Design and development news that comes to you
Vicinity Centres (ASX: VCX) - appoints new Chairman and director. Henry fung. Henry is a co-founder of MF & Co. Asset Management with over 20 years in financial services as a trader and investor, including the past 10 years advising clients and building quantitative trading systems. Henry also maintains a high conviction list of 5 stocks that you can get for free and has a free 5-day course on how professionals use quantitative strategies to find an edge. The concepts in the course are applied in the Quantitative Leveraged ETF L/S Strategy. June 15, 2026. Vicinity Centres (ASX: VCX) has announced a planned leadership transition, with independent non-executive Chairman Trevor Gerber retiring after eleven years of service at the 2026 Annual General Meeting on 28 October 2026. Patrick Allaway has been appointed as Non-executive Director and Chairman-elect effective 15 June 2026, ensuring continuity ahead of the formal handover at the AGM, subject to shareholder approval. Gerber's tenure spans a significant period in Vicinity's history. Appointed to the Board in June 2015 and elevated to the Chairman role in 2019, he has guided the REIT through the COVID-19 pandemic and overseen a disciplined, multi-year portfolio repositioning strategy. This strategy has focused on active reallocation toward premium, fortress-style retail assets designed to deliver superior and sustained income and value growth through market cycles. CEO Peter Huddle highlighted that Gerber leaves the business with a clear strategy, well-capitalised balance sheet, and strong operational positioning. Allaway brings substantial credentials to the role. He holds more than 30 years of experience across financial markets, capital markets, institutional banking and corporate advisory, alongside more than 15 years of non-executive director experience. His board experience includes chairmanship of Bank of Queensland and previous non-executive positions at major institutions including Allianz Australia, Dexus Funds Management, Macquarie Goodman Industrial Trust, Metcash, Fairfax Media, David Jones, Woolworths South Africa and Nine Entertainment. He holds degrees in Arts and Law from the University of Sydney and currently serves on Adobe's International Advisory Board. From an investor perspective, the transition appears orderly and well-managed. Allaway's extensive experience in capital markets and institutional finance aligns well with the capital-intensive nature of REIT management and the significant portfolio repositioning work underway at Vicinity. His background suggests familiarity with strategic property investing and the financial discipline required to navigate different market cycles. The nomination of Allaway as Chairman-elect before Gerber's retirement allows for a structured transition period and maintains governance continuity during the handover. Investors should watch for formal confirmation of Allaway's election at the AGM in October, where securityholders will vote on his appointment as director. The appointment represents a smooth generational transition at Board level and reflects confidence in the current strategic direction. This announcement is price sensitive and has been flagged as material by the ASX. Its Exclusive Top 5 Stock Picks Five high conviction stocks that didn't make the public list. Backed by institutional research with significant upside potential. Subscribe for free access. By subscribing, you consent to receive communications from Mfam. You can unsubscribe at any time. Vicinity Centres (VCX.AX) $2.59 0.01 (0.19%) About Vicinity Centres (ASX: VCX). Vicinity Centres is an Australian real estate investment trust that owns and manages a portfolio of over 50 shopping centres across Australia, including iconic properties such as Chadstone in Melbourne and the Queen Victoria Building in Sydney. The company generates revenue primarily through retail property rental operations and management fees for assets managed on behalf of strategic partners. It operates as a major consolidated REIT with exposure to both major metropolitan shopping destinations and regional centres. If you would like to discuss this announcement or how it might affect your portfolio, request a callback or call Mfam on 1300 889 603. This is general advice only. MF & Co Asset Management has not considered your personal financial needs, objectives or current situation. This information is not an offer, solicitation, or a recommendation for any financial product unless expressly stated. 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