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Vicinity Centres’ Reports Sustained Specialty Stores Sales Growth And Announces New Acquisition for Expansion

Vicinity Centres’ Reports Sustained Specialty Stores Sales Growth And Announces New Acquisition for Expansion

Vicinity Centres (Vicinity, ASX:VCX) provided and update for their September 2019 quarter performance.

Mr Grant Kelley, CEO and Managing Director, said: “We are particularly pleased with the positive momentum maintained in specialty store sales growth during the September 2019 quarter, as we continue to execute on our strategy and further enhance the portfolio through active tenant remixing, and progressing our retail and mixed-use development opportunities.

The ASX-listed firm also announced the acquisition of a new property for expansion.

Vicinity Centres and Salta Properties, the joint owners of Victoria Gardens Shopping Centre, have confirmed the purchase of land adjoining the centre in Melbourne’s inner-city suburb of Richmond.

With the recent purchase of two plots of land on Burnley Street and Doonside Street totalling 3,400 square metres, the joint owners of Victoria Gardens now have consolidated land holdings to the south of the centre creating a strategic 1.3-hectare development site. 

Vicinity Centres Chief Development Officer, Carolyn Viney said: “The acquisition of this land, which shoulders our Victoria Gardens asset, means we can now progress planning for both a retail expansion of the centre and an exciting mixed-use development opportunity.”

Read more:

September 2019 Updates

New Acquisition