BREAKING: Major Gympie shopping centre in $27 million sale
ONE of Gympie's most recognised shopping centres in the heart of the CBD is about to have a new owner, after quietly being put on the market earlier this year.
Goldfields Plaza, owned by Vicinity Centres, is now under sale contract to Lascorp Development Group for $27.5 million and expected to settle next month.
The contract represents a 1.1% premium to book value.
The Melbourne-based Lascorp Development Group is primarily involved in the development of supermarket based shopping centres, typically acquiring existing neighbourhood centres with potential.
Goldfields Plaza is the second largest shopping centre in Gympie, anchored by Coles Supermarket and a Target Country Department Store, 20 speciality shops and 432 parking spaces on 1.42ha (3.5 acres).
First opened in 1985, Vicinity Centres, who owns Gympie Shopping Central in Gympie, bought the neighbourhood centre in 2001, when it was last redeveloped.
It has an estimated net income of $2,420,312 a year when fully leased.
Vicinity Centres CEO and managing director Grant Kelley said Vicinity had now agreed to the sale of $136.7 million of non-core assets this financial year for a combined 2.7% premium to their book values.
The Gympie Times is awaiting comment from the Lascorp Development Group about future development of the centre.