Tamworth’s Centrepoint Shopping Centre has been sold for $38.5m to Sydney-based Intergen Property Group.
Tamworth Business Chamber president Jye Segboer said the big price tag showed how strong the local business community was, and how it was attracting big investment from outside the region.
Mr Segboer spoke to the purchasers, who stayed at his hotel CH on Peel, while they were investigating the complex.
“I know they did lot of due diligence in the months before purchasing,” he said.
“The said one of the strengths in purchasing here was the continuing housing developments and business growth Tamworth is going through. It gave them great confidence in terms of the sustainability of the centre moving forward.”
The property group said it was a strong believer in regional Australia and the “high-quality centre” was a great example of what regional cities had to offer.
Developed in 2008, the centre covers 9200 square metres of leased area and 330 undercover car spaces.
The centre contains the 400-seat Capital Theatre, Forum 6 Cinemas, Aldi supermarket, JB Hi-Fi and 27 speciality shops.
Intergen Property Group capital transactions director Dennis Kalofonos said “Tamworth is a great example of the strength and growth in our regional towns”.
“This high-quality centre will deliver excellent income security for our clients as it features prominent retailers and government-backed tenants,” he said.