Vicinity Centres secure Sydney’s newest outlet destination for $400 million

Vicinity Centres (VCX) has exchanged contracts to acquire Western Sydney’s newly completed Eastern Creek Quarter (ECQ) for $400 million amid strong ongoing investor demand for premium, fortress-style retail assets.

VCX were introduced and the transaction negotiated by CBRE’s Simon Rooney on behalf of Frasers Property Australia. 

The acquisition is expected to settle on 30 June 2026.  

Developed by Frasers Property Australia across three stages since 2020, the bustling and highly successful multi-faceted retail precinct incorporates a circa 10,000sqm Woolworths anchored, traditional shopping centre, a circa 11,000sqm large format retail complex and a newly opened, circa 20,000sqm outlet centre.

CBRE’s Pacific Head of Retail Capital Markets Simon Rooney said, “ECQ is an outstanding development by Frasers and a highly strategic move by VCX to acquire a modern hybrid outlet retail precinct. The acquisition by VCX was an astute market foray, in the face of significant market interest, presenting the rare opportunity to expand its highly successful DFO footprint and buoyed by the exceptional initial trading performance of ECQ’s brand-new outlet centre.” 

“Outlet centres are traditionally tightly held assets and rarely traded, the most recent outlet transaction being the acquisition of a 50% interest in Harbour Town Premium Outlets, which Vicinity Centres acquired in late 2021 for $358 million,” Mr Rooney added. 

ECQ is located 41 kilometres west of the Sydney CBD and occupies a strategic 15.4ha landholding at the intersection of the Great Western Highway and the M7 Motorway, and the nearby M4 Motorway, benefitting from exceptional connectivity and exposure to approximately 26 million passing vehicles per annum.

The precinct includes:

• Stage 1 – ECQ Shopping Centre (completed June 2020), anchored by a full line Woolworths and supported by dining and everyday retail 
• Stage 2 – ECQ XL (completed June 2022), comprising over 11,000 sqm of large format retail
• Stage 3 – ECQ Outlet (opened 25 March 2026), Greater Western Sydney’s first dedicated outlet centre, featuring over 100 brands, 18 dining destinations and 1,100 additional car spaces.

The outlet retailers include Asics (largest outlet store in Australia), Adidas, Puma, Calvin Klein, Tommy Hilfiger, Country Road, Levi’s, New Balance, Oroton and 2XU.

The asset also offers a concept approved outlet expansion opportunity, providing a clear value add pathway in the short-term. 

The property was jointly marketed by CBRE and JLL on behalf of Frasers property Australia.