Vicinity Centres acquires Sydney’s ECQ hub for $400M

Vicinity Centres (ASX:VCX) announced an expansion of its retail portfolio, exchanging contracts with Frasers Property to acquire the Eastern Creek Quarter in Western Sydney for $400 million.

Expected to settle on June 30, the deal remains subject to standard landlord consents for the assignment of ground leases.

The move aligns with Vicinity's focus on securing "fortress-style" assets in high-growth corridors, capitalising on Western Sydney’s burgeoning industrial and residential population.

ECQ is a premier "hybrid" retail asset, spanning approximately 41,000 sqm across three distinct components: a modern outlet centre, a traditional retail shopping hub, and a large-format retail centre.

By integrating these formats, the site captures a diverse consumer base, ranging from daily convenience shoppers to destination seekers looking for international brands.

Vicinity CEO and Managing Director, Peter Huddle, emphasised that the acquisition reinforces the company’s disciplined investment strategy.

He noted that ECQ's scalable retail partnerships and future development potential will drive sustained value growth and enhance earnings resilience.

At the time of reporting, Vicinity Centres’ share price was $2.50.