Vicinity Centres
Vicinity Centres is an ASX-listed Australian REIT managing $25 billion of retail and mixed-use assets across 49 shopping centres, including iconic destinations such as Chadstone and Queen Victoria Building, serving ~6,400 retailers and ~384 million annual customer visits.
- Company typePublic
- Founded2015
- HeadquartersMelbourne, Australia
- Headcount1,001–5,000
- GTM typeB2B
- OfferingServices
What Vicinity Centres does
Vicinity Centres is an ASX-listed Australian Real Estate Investment Trust (ticker VCX) that owns, manages, and develops a $25 billion national portfolio of 49 retail and mixed-use assets, including flagship destinations Chadstone (Melbourne), Queen Victoria Building (Sydney), and Emporium Melbourne. The company is the second-largest listed manager of Australian retail property, with 2.3 million square metres of gross lettable area, ~6,400 retailer partners, and approximately 384 million customer visits annually; 64%+ of Australians live within a 30-minute drive of a Vicinity centre. Revenue is generated through base rent, turnover rent, and other lease-related income from permanent long-term leases and short-term pop-up retail, complemented by Vicinity Media (digital screens, static and tactical media, brand activations) and fees from property, asset, and development management services.
The operating platform is built around an in-house Data Science and Strategic Insights capability that uses proprietary customer behaviour and visitation data to support leasing decisions, paired with a hybrid B2B/B2B2C go-to-market in which dedicated leasing teams approach retailers directly with data-led site selection. Pricing is negotiated on a quote basis per lease, with no public standard rate card. Customer segments span large international brands (Kmart, Woolworths, KENZO, Ralph Lauren), SME and family-owned retailers, office tenants, residential residents in mixed-use precincts, and the broader Australian consumer base. Distribution is predominantly direct domestic sales, including bespoke leasing, pop-up retail, advertising media, and in-centre brand activations.
Vicinity is executing a deliberate strategy of evolving traditional shopping centres into mixed-use lifestyle precincts that integrate retail with A-grade office, residential apartments, hotels, and health/education uses (e.g., One Middle Road Chadstone, Bankstown Central masterplan with Western Sydney University, Buranda Village in Brisbane), while pursuing premium sustainability credentials (Chadstone Place's Australian-first Zero Carbon certification, 4.5 Star NABERS portfolio rating, GRESB #1 ranking in Oceania). The company is publicly listed under a stapled security structure with Vicinity Centres PM Pty Ltd as the responsible entity, employs approximately 1,150 staff, and is led by CEO and Managing Director Peter Huddle (appointed February 2023), with Trevor Gerber as Independent Non-executive Chairman and Patrick Allaway as Chairman-elect from June 2026.
Vicinity Centres firmographics
Firmographics- Name
- Vicinity Centres
- Legal name
- Vicinity Centres PM Pty Ltd
- Website
- https://vicinity.com.au
- Company type
- Public
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- Vicinity Centres is an ASX-listed Australian REIT managing $25 billion of retail and mixed-use assets across 49 shopping centres, including iconic destinations such as Chadstone and Queen Victoria Building, serving ~6,400 retailers and ~384 million annual customer visits.
- Ownership category
- akta.pro rank
Vicinity Centres industry classification
Industry- Product category
- Retail Property Management
- NAICS
- Lessors of Real Estate (5311)
- SIC
- Real Estate Dealers (For Their Own Account) (6532), Operators Of Nonresidential Buildings (6512)
- akta.pro primary industry
- Retail Brokerage (BPAJABAB)
- akta.pro secondary industry
- Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB)
Keywords
Where Vicinity Centres is headquartered
LocationHeadquarters
- HQ city
- Melbourne
- HQ country
- Australia
- HQ region
- Oceania
Offices2 records
Markets served
Vicinity Centres business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D, Supply Chain
Revenue model
- Retail Property Rental: Primary revenue stream from leasing retail spaces to approximately 6,400 retailers across 49 shopping centres. Revenue is generated through base rent, turnover rent, and other lease-related income.
- Advertising and Media: Revenue from advertising solutions including digital screens, static media, sponsorships, and partnerships. Vicinity Media connects retailers and brands with audiences through national digital screens supersite network, static and tactical media, Wi-Fi and online campaigns.
- Property Management Services: Fees earned from managing retail assets including property management, asset management, and development management services for the portfolio.
- Development and Mixed-Use: Revenue generated from mixed-use developments including office spaces (One Middle Road Chadstone), residential apartments, and hotel components within precincts.
Go-to-market motion1 record
Distribution channels5 records
Marketing channels7 records
Vicinity Centres product offering
Product offeringCore offering
Vicinity Centres owns, leases, and manages a $25 billion national portfolio of 49 retail and mixed-use shopping centres in Australia, generating revenue primarily from leasing space to approximately 6,400 retailers. It supplements leasing income with Vicinity Media advertising (digital screens, static media, brand activations), property and asset management services, and mixed-use developments including office towers, residential apartments, and hotels. Data-led leasing insights and customer-behaviour analytics are embedded into the leasing and media offerings.
Product overview
Vicinity Centres operates a diversified retail property portfolio of 49 shopping centres across Australia, offering integrated retail solutions including permanent leasing, pop-up retail, advertising media, and brand activations. The core offering centers on retail space leasing supported by in-house data science for site selection, complemented by Vicinity Media advertising solutions (static media, digital screens including Australia's largest 3D-enabled screen at Emporium Melbourne, and brand activations). The portfolio includes iconic destinations like Chadstone, Queen Victoria Building, Emporium Melbourne, DFO Perth, Chatswood Chase, QueensPlaza, and The Glen. Vicinity is expanding into mixed-use developments including office space (One Middle Road Chadstone, Bankstown Exchange, Buranda Village offices), residential apartments, and hotel accommodations, transforming centres into comprehensive lifestyle destinations.
Differentiator
Problem solved
Functional benefit
Brands
- Vicinity Media: The company's media and advertising division that connects retailers and brands with audiences in retail environments through digital screens, static media, and brand activations.
- Chadstone - The Fashion Capital
- Queen Victoria Building
- Emporium Melbourne
- Chatswood Chase
- The Glen
- DFO Perth
- QueensPlaza
Products and services
- Retail Leasing Bespoke permanent long-term leasing solutions for retail spaces in Vicinity's 49 shopping centres, supported by in-house data science, customer-behaviour insights, and trade-area knowledge to help retailers find optimal locations and connect with existing and new customers.
- Pop Up Retail Temporary and flexible retail space solutions including pop-up shops and kiosks across the Vicinity portfolio, enabling businesses to test markets, launch products, or expand during peak periods with low capital commitment.
- Vicinity Media - Static and Tactical Media Static advertising solutions across Vicinity's portfolio including door decals, floor decals, atrium banners, posters, and carpark advertising positioned in key precincts and high-traffic locations.
- Vicinity Media - Digital Footprint Digital advertising solutions including megascreens, digital lightboxes, Wi-Fi campaigns, and online inventory across premier shopping centres, anchored by Australia's largest 3D-enabled full-motion digital screen at Emporium Melbourne.
- Brand Activations Immersive in-centre consumer experiences that bring brands and products to life, enabling product launches, market testing, and deeper customer engagement in targeted retail environments.
- Property and Asset Management Services Fees from managing retail assets including property management, asset management, and development management services for the Vicinity portfolio across Australia.
- One Middle Road Chadstone (Office Leasing) Nine-storey A-Grade commercial office development at Chadstone with 20,000 sqm net lettable area, targeting 5-star Green Energy rating and zero-carbon certification, featuring outdoor Sky Garden and childcare facilities, offered for office leasing within the mixed-use precinct.
- Bankstown Central Mixed-Use Masterplan (Health & Education Innovation Precinct) Mixed-use development in Sydney's south-west combining retail with the Bankstown Exchange office buildings targeting 5-Star Green Star and 5-Star NABERS Energy ratings, delivered alongside Western Sydney University as the major investment partner for the Health and Education Innovation Precinct.
- Buranda Village Mixed-Use Development 105,000 sqm mixed-use redevelopment in Brisbane featuring 8,200 sqm retail village, approximately 600 apartments, and approximately 50,000 sqm commercial office space across three buildings, targeting 5-Star Green Star rating with carbon neutrality for retail common areas.
Quantifiable outcome
- 3.7% comparable net property income growth in H1 FY26
- +4 more outcomes
Companies that use Vicinity Centres
Customer profileNamed customers6 records
Segments5 records
Ideal customer profiles4 records
Vicinity Centres technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Vicinity Centres partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and minor.
- QMScoreStrategic partnership with QMS for digital advertising technology. Vicinity won the OMA Excellence in Design and Construction award for the Emporium Melbourne digital screen delivered alongside QMS, showcasing industry-leading digital out-of-home advertising capabilities.
- CartologycoreTop-tier media network partner providing premium visibility across high-traffic retail environments as part of Vicinity's corporate partnerships for advertising solutions.
- oOh!MediacoreTop-tier media network partner providing premium visibility across high-traffic retail environments as part of Vicinity's corporate partnerships for advertising solutions.
- Val MorgancoreTop-tier media network partner providing premium visibility across high-traffic retail environments as part of Vicinity's corporate partnerships for advertising solutions.
- JCDecauxcoreTop-tier media network partner providing premium visibility across high-traffic retail environments as part of Vicinity's corporate partnerships for advertising solutions.
- The Nature ConservancyminorEnvironmental partner for the Shuck Don't Chuck shell recycling project at Chadstone, turning oyster shell waste into ocean reef restoration resources for Port Phillip Bay.
- B-AlternativeminorPartner in the Shuck Don't Chuck shell recycling project at Chadstone, contributing to ocean restoration efforts through sustainable waste management.
- VeoliaminorPartner in the Shuck Don't Chuck shell recycling project at Chadstone, providing environmental waste management expertise for sustainable initiatives.
- Golden Age GroupcoreDevelopment partner for The Glen mixed-use project, delivering state-of-the-art apartment living in partnership with Vicinity at the redeveloped precinct.
- Western Sydney UniversitycoreMajor investment partner for Bankstown Central masterplan, with university campus planned as part of the Health and Education Innovation Precinct development.
Scale indicators16 records
Recent moves10 records
Expansion highlights6 records
Vicinity Centres competitors and assessment
Company assessmentDirect peers
- GPT Group: Australian diversified REIT with a major retail portfolio (including Melbourne Central, Highpoint) plus office and logistics; directly comparable to Vicinity's retail-led, mixed-use expansion strategy.
- Stockland: Australia's largest diversified property developer with a significant retail town-centre portfolio and a residential development business; comparable to Vicinity in retail property ownership and mixed-use development.
- Mirvac Group: Australian REIT with premium retail assets and a substantial residential and mixed-use development pipeline; comparable to Vicinity on retail property ownership and on the residential-above-retail mixed-use thesis.
- Scentre Group: Australia and New Zealand's largest retail REIT operating the Westfield-branded portfolio of 37 shopping centres; the most direct competitor to Vicinity in Australian retail real estate with overlapping tenant mix and customer base.
- Charter Hall Group: Australian commercial property group with retail, office, industrial and logistics funds under management; comparable to Vicinity as a listed Australian property platform with retail exposure and active capital recycling.
Regional players
- Simon Property Group: Largest US REIT focused on premium retail real estate and outlet centres; comparable to Vicinity on destination shopping centre ownership, mixed-use expansion and data-led retail media, but operating in a different geography.
- Unibail-Rodamco-Westfield (URW): European/Australian-listed operator of flagship destination shopping centres; comparable to Vicinity on the premium-destination retail format, particularly relevant for Chadstone and QVB positioning.
- Westfield Corporation (legacy): Predecessor global shopping centre operator (now under Unibail-Rodamco-Westfield) that previously owned many of the Australian flagship centres now under Scentre/Vicinity; relevant comparable on destination-format retail globally.
Broad incumbents
- Lendlease: Global real estate and investment group with Australian retail/office developments and investment management; broader incumbent than Vicinity but operates in overlapping retail development and asset management.
- Dexus: Australian diversified REIT focused on office, industrial and retail (including a stake in the Westfield portfolio); broader incumbent with retail exposure but anchored in office rather than retail-led destinations.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat6 records
Key risks6 records
Key highlights7 records
Customer concentration
Vicinity Centres social profiles
Digital presenceVicinity Centres compliance and trust
Trust signalCompliance8 records
Vicinity Centres financial estimates
Financial estimateRevenue estimate
Valuation estimate
Vicinity Centres leadership team
Management profileNumber of profiles
Profiles16 records
Vicinity Centres funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Vicinity Centres M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Vicinity Centres
What does Vicinity Centres do?
Vicinity Centres owns, leases, and manages a $25 billion national portfolio of 49 retail and mixed-use shopping centres in Australia, generating revenue primarily from leasing space to approximately 6,400 retailers. It supplements leasing income with Vicinity Media advertising (digital screens, static media, brand activations), property and asset management services, and mixed-use developments including office towers, residential apartments, and hotels. Data-led leasing insights and customer-behaviour analytics are embedded into the leasing and media offerings.
Is Vicinity Centres a public or private company?
Vicinity Centres is a public company. It is classified as public and is currently operating.
When was Vicinity Centres founded?
Vicinity Centres was founded in 2015. It employs 1,001 to 5,000 people.
Where is Vicinity Centres based?
Vicinity Centres is headquartered in Melbourne, Australia, in the Oceania region.
How does Vicinity Centres make money?
Four revenue lines are on record. Retail Property Rental is the primary driver. The others are advertising and Media, property Management Services and development and Mixed-Use.
Who are Vicinity Centres's main competitors?
Direct peers on record are GPT Group, Stockland, Mirvac Group, Scentre Group and Charter Hall Group. Regional players are Simon Property Group, Unibail-Rodamco-Westfield (URW) and Westfield Corporation (legacy). Broad incumbents are Lendlease and Dexus.
Does Vicinity Centres have an API?
No public API is recorded for Vicinity Centres.
What industry is Vicinity Centres in?
Vicinity Centres's product category is Retail Property Management. Its primary akta.pro industry code is BPAJABAB, Retail Brokerage, with a secondary code of FSAEAJAB, Commercial Real Estate Brokerage (Leasing & Sales). Its NAICS code is 5311 and its SIC code is 6532.