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Vicinity values fall

Vicinity Centres has announced that 35 of its 62 directly owned retail properties, representing 57 per cent of the value of its holdings, are in the final stages of being independently valued and the remaining properties are being internally valued. The estimated net valuation decline for the overall portfolio is 1.3 per cent, or $202 million, for the six months ending June 30. The June valuations are subject to finalisation and audit and will be confirmed in Vicinity’s annual report on August