Vicinity buys a half share in Lakeside Joondalup Shopping Centre for $420M

The Market Herald08-20

Vicinity Centres (ASX:VCX) is set to take on a 50% interest in Perth’s Lakeside Joondalup Shopping Centre, stressing the value of the asset both in terms of strong retail sales figures and future ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2460094333?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-08-20 07:42","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2460094333","market":"hk","top_or_hot":-1,"title":"Vicinity buys a half share in Lakeside Joondalup Shopping Centre for $420M","media":"The Market Herald","content":"<div>\n<p>Vicinity Centres (ASX:VCX) is set to take on a 50% interest in Perth’s Lakeside Joondalup Shopping Centre, stressing the value of the asset both in terms of strong retail sales figures and future ...</p>\n\n<a href=\"https://themarketonline.com.au/vicinity-buys-a-half-share-in-lakeside-joondalup-shopping-centre-for-420m-2024-08-20/\">Source Link</a>\n\n</div>\n","source":"markerherald_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Vicinity buys a half share in Lakeside Joondalup Shopping Centre for $420M</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nVicinity buys a half share in Lakeside Joondalup Shopping Centre for $420M\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-20 07:42 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://themarketonline.com.au/vicinity-buys-a-half-share-in-lakeside-joondalup-shopping-centre-for-420m-2024-08-20/><strong>The Market Herald</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Vicinity Centres (ASX:VCX) is set to take on a 50% interest in Perth’s Lakeside Joondalup Shopping Centre, stressing the value of the asset both in terms of strong retail sales figures and future ...</p>\n\n<a href=\"https://themarketonline.com.au/vicinity-buys-a-half-share-in-lakeside-joondalup-shopping-centre-for-420m-2024-08-20/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"XAO.AU","symbol_name":"标普/澳交所 普通股指数","start_time":0,"source_url":"https://themarketonline.com.au/vicinity-buys-a-half-share-in-lakeside-joondalup-shopping-centre-for-420m-2024-08-20/","article_id":"2460094333","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2460094333","pubTimestamp":1724110920,"sourceInfo":{"source_id":"markerherald_stock","name":"The Market Herald"},"weMediaInfo":null,"summary":"Vicinity Centres  is set to take on a 50% interest in Perth’s Lakeside Joondalup Shopping Centre, stressing the value of the asset both in terms of strong retail sales figures and future plans for the surrounding district.Through a settlement on August 19, Vicinity paid $420 million to acquire a half interest in the property, which is also owned by the Australian Prime Property Fund – Retail, whose investment is managed by Lendlease.CEO and Managing Director Peter Huddle stressed that Vicinity had been long interested in buying up an interest in the site.“Lakeside Joondalup is a fortress-style retail asset located in one of Perth’s principal activity centres and has been on our target list for some time,” he said.“Importantly, Vicinity has also secured the property and retail development management rights for Joondalup, which provides the opportunity to utilise our retail management platform to drive asset performance, whilst earning additional fee income,” he said.","collect":0,"end_time":0,"defaultTopTitle":"themarketonline.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"XAO.AU":"标普/澳交所 普通股指数","BK7162":"零售房地产信托","XJO.AU":"标普/澳交所 200指数","VCX.AU":"VICINITY CENTRES","BK7005":"零售业房地产投资信托","XKO.AU":"标普/澳交所 300指数","BK7510":"REITs概念"},"translate_title":"Vicinity以4.2亿美元收购Lakeside Joondalup购物中心一半股份","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"VCX.AU":1,"XAO.AU":0.81,"XJO.AU":0.81,"XKO.AU":0.81},"content_text":"Vicinity Centres (ASX:VCX) is set to take on a 50% interest in Perth’s Lakeside Joondalup Shopping Centre, stressing the value of the asset both in terms of strong retail sales figures and future plans for the surrounding district.\nThrough a settlement on August 19, Vicinity paid $420 million to acquire a half interest in the property, which is also owned by the Australian Prime Property Fund – Retail, whose investment is managed by Lendlease.\nCEO and Managing Director Peter Huddle stressed that Vicinity had been long interested in buying up an interest in the site.\n“Lakeside Joondalup is a fortress-style retail asset located in one of Perth’s principal activity centres and has been on our target list for some time,” he said.\n“Geographically, the suburb of Joondalup has been earmarked to become Perth’s second Central Business District and enjoys a captive and growing population, which is expected to drive above average retail sales growth over the next decade.\n“The acquisition of Joondalup, together with the forthcoming redevelopment of Galleria and sale of four non-strategic assets in Western Australia, reflects our deliberate strategy to recycle and redeploy capital in order to right-size our investment and strengthen our asset portfolio in Western Australia.”\nMr Huddle also said Lakeside was an important investment in terms of its retail sales volumes.\n“Importantly, Vicinity has also secured the property and retail development management rights for Joondalup, which provides the opportunity to utilise our retail management platform to drive asset performance, whilst earning additional fee income,” he said.\n“With Lakeside Joondalup already achieving annual retail sales of almost $800 million, and with Vicinity’s scalable retailer partnerships, we are confident there is growth and value to be unlocked.”\nVicinity has been trading at $2.18.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2460094333"}