Latest Vicinity Centres News

Vicinity Centres faces uncertainty over four David Jones stores after the retailer entered administration and receivership, with $2.2 million in unpaid rent and no bank guarantees supporting the leases. The property group says its FY27 earnings guidance is now under review.

David Jones’ administration and receivership has placed four Vicinity Centres stores, $2.2 million of unpaid rent and FY27 earnings guidance in question. The properties generate approximately $34 million, or 2.4%, of Vicinity’s portfolio gross rental income, but the eventual financial impact remains unclear.

Vicinity Centres has reaffirmed its FY27 earnings targets after a resilient first quarter, with occupancy steady at 99.6%, leasing spreads widening to 5.1% and portfolio sales rising 3.0%. The AGM also marked the retirement of chairman Trevor Gerber and director Tim Hammon.

Vicinity Centres has reaffirmed its FY27 earnings guidance after a resilient first quarter, with occupancy steady at 99.6%, leasing spreads widening to 5.1% and total portfolio sales rising 3.0%. The AGM also marked Trevor Gerber’s retirement as chairman and the formal leadership transition to Patrick Allaway.

Vicinity Centres used its 2026 Capability Showcase to make the case for a more concentrated, premium retail portfolio, led by Chadstone and Chatswood Chase. The presentation also set out development returns, balance-sheet capacity and a sizeable residential option beside Chatswood Chase, although much of the value remains dependent on stabilisation, approvals and market conditions.

Vicinity Centres has positioned portfolio premiumisation and development execution as the engine of future growth, but its Chadstone case study also shows how quickly valuation assumptions can alter project returns. The company highlighted a potential residential expansion at Chatswood Chase alongside strong occupancy, modest gearing and a large development pipeline.

Vicinity Centres has confirmed the Dividend Reinvestment Plan price and announced the New Zealand dollar equivalent distribution for the six months ending June 2026, offering securityholders a currency choice ahead of the September payment.

Vicinity Centres delivered a robust FY26 with a $1.39 billion statutory net profit, strategic acquisitions in key growth corridors, and a strengthened premium retail portfolio.

Vicinity Centres lifted its FY26 net profit after tax by 38.5% to $1.39 billion, supported by a 2.9% revenue increase and a 3.9% rise in funds from operations. The retail property trust declared a final unfranked distribution of 6.20 cents per stapled security, continuing its steady payout policy.

After 11 years at the helm, Vicinity Centres’ Chairman Trevor Gerber will step down at the 2026 AGM, with seasoned financial veteran Patrick Allaway set to take over, signalling continuity in the company’s premium retail strategy.

After 11 years on the board, including seven as Chairman, Trevor Gerber will retire at Vicinity Centres’ 2026 AGM, with Patrick Allaway appointed Chairman-elect to succeed him.

Elanor Investors Group appoints David McNamara as CEO, signaling a leadership shift following a balance sheet recapitalisation and strategic reset. The Board also sees key transitions with Tony Fehon moving to a non-executive role and Su Kiat Lim stepping down.