Nikos Property Group Pty Ltd. agreed to acquire 50% stake in Elizabeth City Centre from Vicinity Centres (ASX:VCX) on December 20, 2024. A cash consideration will be paid by Nikos Property Group Pty Ltd. As part of consideration, an undisclosed value is paid towards assets of Elizabeth City Centre. In a similar transaction Nikos Property Group is also acquiring 50% stake in Roselands & Carlingford Court , and the combined consideration payable for all the three acquisitions is AUD 457 million.

The expected completion of the transaction is June 30, 2025.