Acquisition of Eastern Creek Quarter retail asset
| Stock | Vicinity Centres (VCX.ASX) |
|---|---|
| Release Time | 15 May 2026, 9:04 a.m. |
| Price Sensitive | Yes |
Vicinity Centres acquires Eastern Creek Quarter retail asset
- Vicinity Centres acquires Eastern Creek Quarter retail asset in Western Sydney for $400 million
- ECQ is a hybrid retail asset comprising an Outlet centre, traditional retail shopping centre, and large format retail
- Acquisition aligns with Vicinity's strategy to upweight exposure to metropolitan Sydney and strengthen its Outlet centre network
Vicinity Centres (ASX:VCX) has exchanged contracts to acquire the Eastern Creek Quarter (ECQ) retail asset in Western Sydney for $400 million. ECQ is a hybrid retail asset comprising a recently opened c.20,000 sqm Outlet centre, an integrated c.10,000 sqm traditional retail shopping centre, and a c.11,000 sqm large format retail centre. Located in the heart of Western Sydney's industrial and residential growth corridor, ECQ is well serviced by several large motorways and is also proximate to major bus services and heavy rail. As a hybrid retail asset, ECQ benefits from the frequency of everyday, convenience shoppers, and at the same time is a destination for shoppers seeking international and local brands at attractive prices. The acquisition of ECQ aligns with Vicinity's strategic priorities to upweight its exposure to metropolitan Sydney and strengthen its existing network of Outlet centres. While ECQ already houses a robust and contemporary retail offer, Vicinity sees opportunity to leverage its scalable retail partnerships, property management, leasing and development capability to drive enhanced asset performance and sustained value growth. Vicinity's investment strategy remains anchored in its strong conviction that premium, fortress-style assets in strong trade areas, that are well managed by retail property experts, deliver superior and sustainable income and value growth.
Vicinity's CEO and Managing Director, Mr Peter Huddle, stated that by maintaining a conservative but flexible capital structure, the company has been able to capitalize on this attractive acquisition opportunity, which will enhance earnings resilience and strengthen Vicinity's future income and value growth profile.