Highlights

  • Vicinity Centres reported FY26 funds from operations of AUD 700.1 million, an increase of 3.9% compared with the prior year.
  • The annual distribution increased 3.3% to 12.40 cents per security, while net tangible Assets rose to AUD 2.59 per security.
  • Portfolio occupancy reached 99.6%, supported by leasing Demand across the company’s retail property assets and a 4.2% leasing spread overall.
  • Vicinity recorded AUD 293 million in net property valuation gains, supporting a rise in statutory profit during the FY26 period.

Vicinity Centres reported its FY26 annual results on 20 August 2026, delivering Funds From Operations (FFO) of $700.1 million for the year ended 30 June 2026 — a 3.9% increase on FY25. FFO per security rose 2.8% to 15.21 cents, while the annual distribution of 12.40 cents per security represented a 3.3% increase. The result validated Vicinity's multi-year strategy of concentrating its portfolio in premium and sub-regional retail assets, particularly its flagship Chadstone Shopping Centre.

Leasing and Operational Performance

Vicinity's portfolio of 60 shopping centres achieved occupancy of 99.6% at 30 June 2026, with a record leasing spread of 4.2% — indicating that new leases are being struck at materially above expiring Lease rates. Comparable net property income (NPI) grew 4.2% across the full year (3.7% in the first half), driven by annual rent escalators of 4.7% on average. Net property income (NPI) for the year was $938.1 million, up 2.2% from $918.1 million in FY25. The year also included the Acquisition of Uptown for $212 million and DFO Eastern Creek for $351 million, adding quality assets to the portfolio.

Valuation Uplift and NTA Growth

Vicinity's strong leasing performance and improving investor demand for prime retail property drove a fifth consecutive half of positive net property valuation growth, with net property valuations up $293 million for the year. This lifted Net Tangible Assets (NTA) per security by 7.7% to $2.59 — the strongest NTA growth in several years. Statutory net profit after tax (NPAT) reached $1,391.2 million, up from $1,004.6 million in FY25, reflecting the cumulative effect of property revaluations alongside underlying Earnings growth.

FY27 Guidance and Outlook

Looking ahead, Vicinity guided FY27 FFO of 16.0–16.2 cents per security and AFFO of 13.9–14.1 cents per security, representing meaningful acceleration from FY26. Comparable NPI growth of around 3.5% is expected, supported by the contribution of recently acquired assets and ongoing leasing momentum. The final distribution of 6.20 cents per security for the second half of FY26 was paid on 16 September 2026, bringing full-year distributions to 12.40 cents per security.

Stock Price Information

On 6 November 2026, Vicinity Centres (ASX:VCX) shares recorded a change in price. For current pricing, refer to the ASX website or your broker platform.