Retail landlord Vicinity Centres has stepped up its asset sale program with the divestment of a half share of the just-opened Broadmeadows Central mall in Melbourne to Nikos Property Group for $134.5 million, with the proceeds going to repay debt.
The sale of Deepwater Plaza on the Central Coast reflects the strong appetite in the market for sub-regional malls, albeit at higher yields and lower prices.
A capital raising for a new fund to acquire Adelaide’s Brickworks Marketplace comes amid increased interest in individual retail assets and smaller malls.