sydneyvicinity centres indicated the value of its property value would rise by 22 at the end of december as retail assets show resilience to rising cases of covid19 after lockdown restrictions were lifted in recent months vicinity centres said preliminary asset valuations signaled a 309 million australian dollars us222 million uplift in book values and its weighted average capitalization rate tightened 13 basis points to 535 chief executive grant kelley said valuations of direct factory outlets have continued to grow while regional and subregional assets benefited from strong transactional activity vicinity recently sold a 50 stake in the runaway bay mall in queensland state at an 18 premium to book value retailer demand for flagship stores in our cbd centres remained strong throughout the pandemic despite the subdued visitation and trading environment mr kelley said pleasingly our cbd portfolio recorded a modest uplift in valuations over the period supporting our view that the outlook for cbd retail is improving and these centres will return to their former vibrancy over time vicinity centres said it wasnt yet ready to provide earnings guidance for the 12 months through june and that it expected to announce its firsthalf distribution alongside its interim earnings result on feb 16