Celebrating its first decade as an ASX-listed company – SCA Property Group (ASX: SCP) is renaming and rebranding as Region Group. The Company’s ASX ticker code will also change to RGN to reflect its new name.
The new Region Group name and rebranding coincides with the Company celebrating its first decade as an ASX-listed company. During this period, it has achieved a number of significant milestones including admission into the ASX100, expansion of its property portfolio from 56 centres to 104 centres; its unit price increasing from $1.40 in 2012 to $2.75 as of 30 June 2022 and delivering over 234% in total unitholder returns compared to the ASX200 A-REIT index return of 116% over the same period.
Looking ahead, the newly named Region Group will continue to grow and make a significant contribution to local communities across metro and regional Australia and to adapt to emerging structural changes, with climate change transition being a key area of focus.
Region CEO Anthony Mellowes said, “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. 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.”
Ocean Grove Marketplace, VIC
As structural market changes have taken place and accelerated following the COVID-19 pandemic, the Company’s centres have evolved and become even more integral to surrounding local communities.
The Company’s centres have expanded to provide not only convenience shopping but also last-mile logistics fulfilment capabilities, local employment, as well as local economic growth, ‘success at school’ support for disadvantaged children in partnership with The Smith Family and community facilities for areas affected by natural disasters. The Company’s Lismore Central centre, which was heavily impacted by disaster flooding earlier this year, is a case in point.
“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 of supporting better communities across Australia,” said Mellowes.
Delacombe Shopping Centre, VIC
Climate Resilience Action Plans
A key initiative in this regard, are the ‘Climate Resilience Action Plans’ the Company is developing over the next 12 months for 11 of its centres that are at high risk of cyclonic conditions. These plans follow the Company’s engagement in 2022 with AECOM to produce in-depth climate risk assessments and design programs to improve resilience and prepare for climate risks such as bushfires, drought, flooding, storms, cyclones and coastal inundation/erosion.
The ‘Climate Resilience Action Plans’ will involve consultation with local emergency services and local authorities, to formalise the role of each of the 11 centres and embed them within the local disaster relief plans, to ensure the ongoing supply of essentials to impacted communities and potentially the use of the centres as evacuation shelters.
Renewable energy generation for centres, tenants and potentially local communities
Also of note is the Company’s investment in solar generation projects. In 2022 it installed solar panels across all of its Western Australian centres with the capacity to deliver 6.2 MW of solar generation. During the next 24-30 months the Company is planning for at least 11.4MW of further solar generation capacity to be installed across its metro and regional centres on the east coast of Australia with the goal of delivering 25MW of solar generation capacity by 2026. It is also exploring the potential to leverage the land allocated to parking at its centres for additional solar generation capacity, which if feasible and subject to the requisite approvals and consents, could potentially generate sufficient renewable energy to support not only its centres but also its retail tenants and surrounding future communities.
