This article is from the Australian Property Journal archive
After a decade listed on the ASX, SCA Property Group is renaming and rebranding to Region Group.
Over the ten year period as an ASX listed company, the now former SCA Property Group has been admitted into the ASX100, expanded its portfolio from 56 to 104 centres, seen its unit price rise from $1.40 in 2012 to $2.75 as at 30 June 2022 and delivered more than 234% in total unitholder returns.
“We are continually investing in our centres to ensure we evolve in a way that best addresses the needs and wants of our retail partners and the local communities that we serve,” said Anthony Mellowes, CEO at Region Group.
“Our purpose as an organisation is to support better communities through life’s essentials. Our new name and rebranding are designed to reflect this purpose.”
The company has also seen its centre’s expand from providing convenience shopping to last mile logistics fulfillment capabilities, local employment and economic growth.
As well as providing “success at school” support for disadvantaged children in partnership with The Smith Family and community facilities for areas affected by natural disaster, such as floods.
Climate change transition will become a key area of focus in the company’s future, with its “Climate Resilience Action Plans” initiative developing over the next year, for 11 of its centres at high risk of cyclonic conditions.
The initiative will see Region Group consult with local emergency services and key authorities to formalise the role the centres within the local disaster relief plans, ensuring the supply of essentials to impacted communities and potentially the using the centres as evacuation shelters.
In 2022, the group also installed solar panels across all its WA centres with a 6.2MW capacity.
While over the 24-30 months there are plans to add at least 11.4MW of solar generation capacity to be installed across its metro and regional centres on the east coast of Australia for a total capacity of 25MW by 2026.
“The past 10 years have seen our portfolio of metro and regional convenience shopping centres grow and evolve. We are excited by the opportunities ahead of us as we continue to expand and explore new ways to deliver on our purpose supporting better communities across Australia,” concluded Mellowes.
With the new Region Group name the company will also run under a new ASX ticker code, RGN.
