Macquarie already has a return-and-earn vending machine for bottles and cans, which customers can use any time for a 10¢ refund on containers.

The centre also has a Juice for Good vending machine, which uses imperfect oranges, thus saving them from being sent to landfill. All profits from the machine go to OzHarvest to help feed people in need.

There are also eight supercharging bays for Tesla electric vehicles to recharge in about 30 minutes. There are 34 supercharging stations in Australia; this is the only one on Sydney’s North Shore.

Vicinity Centres has been hit by the effects of Covid-19 lockdowns on malls, reporting a statutory net loss after tax of $1.8 million for the year ended June 30.

By contrast, in FY19, the shopping centre owner and manager reported statutory net profit after tax of $346.1 million. Vicinity has approximately $6.9 billion worth of shopping centres under management.

The 2020 loss is comprised primarily of funds from operations (FFO) of $520.3 million, down from $689.3 million in FY19, offset by a property valuation loss of $1.7 billion (FY19: $237.1 million) and an impairment of goodwill of $427 million.

FY20 FFO was also impacted by anticipated rental waivers to be provided to tenants, partly offset by cost-saving initiatives implemented as part of Vicinity’s response to the pandemic.

“Property remains one of the few industries that is providing waivers, not only deferrals, of rent to impacted businesses, notwithstanding legal obligations under leases,” said Grant Kelley, Vicinity CEO and managing director.

 “We have been negotiating in good faith with both our SME and non-SME retailers who have been impacted by COVID-19 to ‘share the burden’ and support them through these difficult times while balancing the need to secure future cash flows for Vicinity.”

This story appears in the August 26, 2020, issue of Inside Retail Weekly.