Vicinity buys DFO in Brisbane for $55m

Vicinity Centres is bolstering its position in the Australian outlet centre market with the acquisition of DFO in Brisbane for $55 million.

Vicinity Centres is acquiring DFO in Brisbane for $55 million, part of its plan to strengthen its position in the Australian outlet centre market.

Including the DFO Brisbane acquisition, which is subject to Brisbane Airport Corporation approval, Vicinity's outlet centre portfolio has a combined value of more than $1.1 billion in assets under management.

The property where the DFO Brisbane business is located will be occupied by Vicinity under a sub-lease with Brisbane Airport, which holds the head lease over the land and owns the buildings.