Vicinity reins in loss as rent collection lifts
Nick LenaghanProperty editor
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.
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