Vicinity Centres has announced that Michael Hawker will retire from its boards, including Vicinity Centres RE, effective August 31. Hawker joined Vicinity as a non-executive director in November 2022. During his tenure, he served on the Audit Committee and the Risk, Compliance & ESG Committee, and previously contributed to the Remuneration & Human Resources Committee.
This announcement follows Vicinity’s report of a statutory net profit of $1 billion. The company’s funds from operations saw an increase of 1.4 per cent, reaching $673.8 million. Accordingly, Vicinity declared a final distribution of 6.05¢ per security, bringing the total FY25 distributions to 12¢ per security for its investors.
Vicinity Centres is an Australian Real Estate Investment Trust (REIT) specialising in the ownership and management of shopping centres. The company focuses on creating retail destinations that offer a mix of shopping, dining, and entertainment experiences. Key premium assets such as Chadstone and Lakeside Joondalup have driven strong occupancy rates, healthy leasing spreads, and growth in retail sales. These results position the business for continued expansion and development initiatives into the FY26 financial year.
