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Vicinity Centres acquired Eastern Creek Quarter (ECQ) in Western Sydney from Frasers Property Australia, a unit of Frasers Property for AUD400mil (~S$368mil).
- - Read this at SGinvestors.io -
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While the exit yield was not disclosed by Frasers Property, market pricing suggests a relatively tight cap rate in the range of high 5%, which we believe is supported by the scarcity value of Sydney outlet assets, resilient institutional demand and embedded expansion potential.
Our view.
- - Read this at SGinvestors.io -
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According to CBRE, Savills, the exit pricing on a GLA basis also appears favourable relative to several large Australian retail transactions, particularly given ECQ is not a dominant super-regional mall.
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Strategically, the sale reflects Frasers Property’s ability to develop, stabilise and monetise assets, while freeing up capital and supporting balance sheet flexibility. In addition, given that this is a development asset, we expect Frasers Property to report strong gains (not shared at this moment) in the coming quarters, once completed.
Maintain BUY
- Read more at SGinvestors.io.
Above is an excerpt from a report by DBS Group Research.
Clients of DBS may access the full PDF report @ https://www.dbs.com/insightsdirect/.
Tabitha FOO DBS Group Research | https://www.dbs.com/insightsdirect/ 2026-05-18
Read also DBS's most recent report:
2026-05-26 Frasers Property - Strength In Partnership, Growth In Motion.
Price targets by other brokers at Frasers Property Target Prices.
Listing of research reports at Frasers Property Analyst Reports.
Relevant links:
Frasers Property Share Price History,
Frasers Property Announcements,
Frasers Property Dividend Payout Dates & Corporate Actions,
Frasers Property News
