Vicinity Centres (VCX) Capability Showcase summary

Global marketplace inspiration and vision

• Extensive research trips to leading global markets like Borough Market, La Boqueria, and Le Bon Marché informed the creation of a unique, artisan-driven marketplace experience.

• Emphasis on surprise, delight, and authentic food and retail experiences to differentiate from traditional shopping centers.

• Operational innovations included off-site storage and seven-day trading to support artisan operators.

Development execution and operational challenges

• Over AUD 500 million invested in The Market Pavilion, One Middle Road office tower, and car park expansions, with significant operational complexity managed during live construction.

• Builder partnerships and internal expertise were leveraged to overcome sequencing and delivery issues, resulting in a high-quality outcome despite challenges.

• Customer traffic was temporarily reduced during construction, but sales remained resilient and rebounded post-development.

Retail and office integration strategy

• Office tenants, including major brands, were attracted by the integrated retail and amenity offering, supporting weekday visitation and expenditure.

• The asset’s office space maintained strong occupancy despite a challenging market, aided by strategic tenant selection and retail activation.