Armidale Plaza Shopping Centre located in northern NSW, 130km inland from the coastline and approximately halfway between Sydney and Brisbane is for sale. The Shopping Centre boasts more than 17,000m2 of retail area, and is anchored by Supa IGA, Kmart and Spotlight.
Owned by Angaet Property Management, the centre is positioned in the CBD of Armidale and draws on the town’s strong regional population of more than 60,000 people as well as further afield from Tamworth, Glen Innes and the whole New England area.
CBRE’s Nick Willis has been appointed to market the property for sale, with buyer interest expected to top $30 million.
“The centre has attractive rent levels, providing investors an opportunity to implement a remix and releasing strategy that will drive and enhance value. Further to this the CBD location provides potential development opportunities,” Willis said.
“Opportunities such as this are unique to the market. We are anticipating interest from syndicators, developers and private investors who will identify the value add nature of the opportunity.”
Armidale Plaza Shopping Centre completed a significant multi-million dollar refurbishment in 2007, incorporating the individual buildings into a single integrated enclosed Centre, and upgrade and increase of car spaces in the underground carpark.
