03/11/2021 - 15:00

MCS to monitor Vicinity shopping centres

03/11/2021 - 15:00

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Listed security business MCS Services has won a $4.8 million contract to monitor all shopping precincts owned and managed by Vicinity Centres in WA.

MCS to monitor Vicinity shopping centres
Vicinity owns and manages 13 shopping centres in WA, including DFO Perth. Photo: Vicinity Centres

Listed security business MCS Services has won a $4.8 million contract to monitor all shopping precincts owned and managed by Vicinity Centres in Western Australia.

Vicinity owns and manages 13 shopping centres in the state, including DFO Perth, Morley Galleria and Victoria Park Central.

MCS currently services six of those centres and will take on the remaining seven.

Its three-year contract is worth $4.8 million, reflecting $1.3 million per annum from the new centres.

MCS said the contract would provide $5 million worth of income to the Joondalup-based business within the first year and, if extended to a five-year term, about $26.5 million in total.

The company expects to employ another 20 staff to accommodate its expanded portfolio.

“The awarding of this contract is testament to the professionalism of the company and the high regard that the centre operator has for MCS Security and its staff,” chief executive Paul Simmons said.

Vicinity manages (but doesn’t own) an additional three centres in WA: Belmont Forum, Cockburn Gateway Shopping Centre and Midland Gate.

Its shares closed up 0.3 per cent on Wednesday to trade at $1.72. 

Meanwhile, MCS closed up 13.3 per cent to trade at 6.8 cents.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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