Vicinity Centres
| Public Company | |
| Traded as | ASX: VCX |
| Industry |
Property Development Property Management Retail Property |
| Founded | 18 February 1985 (as Jennings Properties Limited). Aggregate as CRF 14 December 2011. Re-branded as Vicinity Centres 21 October 2015. |
| Headquarters | Chadstone Shopping Centre, Melbourne, Australia |
|
Area served
|
Australia |
|
Key people
|
Angus McNaughton (CEO) Peter Hay (Chairman) |
| Products | Vicinity Centres (VCX) |
| Services | Retail property ownership and management |
| Profit |
 $675.1 million (for the Full Year ended 30 June 2015) |
| Total assets | $22 billion |
|
Number of employees
|
1,200+ |
| Website | www.vicinity.com.au |
Vicinity Limited, trading as Vicinity Centres (VCX), and previously known as Federation Centres, and Centro Properties Group merged with "Novion" formally "CFSGAM" is an Australian Real Estate Investment Trust (REIT) company specialising in ownership and management of Australian shopping centres. With approximately $6.9 billion of shopping centres under management.
The company is headquartered in Melbourne with offices in Sydney, Brisbane, Adelaide and Perth, Vicinity Centres (VCX) employs over 500 people in Australia.
Listed on the Australian Securities Exchange (VCX), Vicinity Centres consists of Vicinity Limited and its controlled entities, which includes Vicinity Centres Trust No. 1, Vicinity Centres Trust No. 2 and Vicinity Centres Trust No. 3. Although separate entities, the securities of each are stapled together as ‘Vicinity Centres’ to ensure that they are traded as a single interest. The ASX ticket code for Vicinity Centres is VCX.
In November 2015, Vicinity Centres moved its Head Office to Chadstone Shopping Centre (of which they own 50%), the largest shopping centre in the Southern Hemisphere. Its previous Head Office building on Collins St in the CBD, remains in use by some of their executives and staff. The Sydney office also became a corporate office, with the new CEO Angus McNaughton being based in Sydney, as well as a few other executives from the merged Novion.
Vicinity Limited was established on 18 February 1985 under the name Jennings Properties Limited, and shares were issued in the same year on the Australian Securities Exchange. In January 1991, Jennings Properties Limited was renamed Centro Properties Limited, with the stock being changed across in May 1991. In September 1997, Centro was restructured to become a stapled security structure named Centro Properties Group. Centro was a stapled security comprising one unit in Centro Property Trust (CPT) stapled to one share in Centro Properties Limited (CPL). CPT is the owner of Centro's interests in the properties and CPL, along with its subsidiaries, provides management services to CPT.
In September 1999, Centro acquired the management rights for Prime Retail Property Trust (PRX), and in October 2004, it merged with Prime Retail Group under a court-approved scheme with a ratio of 5 Prime securities per 1 Centro security.
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Wikipedia