Vicinity

Vicinity begins construction on contemporary office suites, the first step in Bayside’s mixed-use transformation

Vicinity today announced its vision to transform Bayside, Victoria into the Mornington Peninsulaโ€™s lifestyle destination, connecting retail, business and leisure, with construction now underway on the first stage of the development.

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Vicinity felt a strong 1Q FY23

Vicinity Centres announced its quarterly update for the three months ended 30 September 2022 and reaffirmed its FY23 FFO and AFFO guidance to be in the range of 10.9-11.5 cents, reflecting a 5.8% yield at the current price if fully distributed.

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Chadstone introduces The Social Quarter โ€“ its newest entertainment and dining precinct

Chadstone โ€“ The Fashion Capital today unveiled its brand new entertainment and dining precinct, The Social Quarter, which is on track to open this summer. The $71 million project spans more than 10,350 square metres of new area and accommodates a collection of 18 entertainment and sophisticated dining experiences. The vibrant 'all seasons playgrond' setting has been designed to suit any occasion, whether it be a date night, an after work catch-up or a mid-week family celebration. We are proud to be adding something unique to Chadstone with the launch of The Social Quarter. With the breadth of entertainment and dining options on offer, the first-of-its-kind precinct is a place where, no matter your age, the hour of the day, or the time of the year, youโ€™ll find a destination that encourages play and celebration. Carolyn Viney Vicinity Centres Chief Development Officer The Social Quarter at Chadstone is set to open this summer and will welcome six new dining retailers: Cinque Terre, Cityfields, Piccolina Gelateria, White + Wongโ€™s, Sardine Bar, and UA Brewing Co. including an onsite brewery producing sustainable craft beer exclusively for The Social Quarter. Four new entertainment brands โ€“ Archie Brothers, Strike Bowling, Holey Moley and Hijinx Hotel โ€“ will complement the new restaurants as well as Chadstoneโ€™s LEGOLAND Discovery Centre and HOYTS 13 screen cinema complex. Four new entertainment brands โ€“ Archie Brothers, Strike Bowling, Holey Moley and Hijinx Hotel โ€“ will complement the new restaurants. Credit: Vicinity Centres Download Weโ€™re excited to be able to welcome visitors to enjoy high-end restaurants with spectacular views across Melbourne to the CBD and views to the sky through the state of the art louvred glass roof made up of 468 individually glazed pieces. The Social Quarter will also showcase a new integrated art facade which envelopes the multi-deck car park in this part of the Centre. Carolyn Viney Vicinity Centres Chief Development Officer Sustainably designed in collaboration with leading architects Jackson Clements Burrows (JCB), Buchan, Decibel and Lat Studios, The Social Quarter at Chadstone brings together lush outdoor spaces and green landscapes. Targeting a 5 Star Green Star rating under the new Green Star Buildings Tool, the precinct has 199KW Solar Photovoltaic (PV) and will bolster the precinctโ€™s building energy performance by more than 30 percent. โ€œWe are also happy to announce that The Social Quarter development has created more than 250 new jobs during construction with another 370 roles to be on offer once completed,โ€ Ms Viney said. The Social Quarter will be open late, cementing Chadstone as a destination for domestic and international visitors less than 20 kilometres from Melbourneโ€™s CBD.

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Vicinity releases third Reconciliation Action Plan

Vicinity has today released its Innovate Reconciliation Action Plan (RAP) 2022 - 2024, reaffirming its commitment to help achieve a reconciled Australia and building on the progress made in its two previous RAPs.

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Vicinity drops $300m in COVID Relief but maintains Growth

Vicinity Centres today announced its results for the six months ended 31 December 2021 (1H FY22), with a statutory net profit after tax of $650.2 million, representing a $1.04 billion increase on the prior corresponding period. Statutory net profit principally comprised FFO of $287.7 million and a non-cash net property …

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Officeworks moving to Chadstone; office occupancy hits 100%

Officeworks is the latest national business to take up residence in Chadstoneโ€™s growing mixed-use precinct, entering into a long-term lease with Vicinity to move its 8,000 sqm national corporate headquarters into the Chadstone Place office building. Taking advantage of Chadstoneโ€™s long list of amenities, including convenient transport links, Hotel Chadstone …

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