Vicinity reins in loss as rent collection lifts

Nick LenaghanProperty editor

Aug 18, 2021 – 10.47am

Email LinkedIn Twitter Facebook

Subscribe to gift this article

Gift 5 articles to anyone you choose each month when you subscribe.

Subscribe now

Already a subscriber?

Key Points

Full-year revenue ($m) 1167.5, down 3.7pc
Funds from operations ($m) 558.8, up 7.4pc
Net loss ($m) -258.0 v -1801.0
Final dividend (¢) 6.6 v nil
Date dividend payable: August 31

Shopping centre giant Vicinity Centres has fired a fresh shot in the rent wars, chastising major retailers for “commercial opportunism” after bagging significant rental relief under previous lockdowns.

The question of how to best share the burden of lost earnings has again come to the fore as lockdowns extend across Sydney and Melbourne, where the major mall owners including Vicinity collect the bulk of their earnings.

Nick Lenaghan edits the property section, which covers all aspects, from residential real estate and housing and construction to commercial property – office, retail, industrial – and major ASX-listed developers and real estate investment trusts.