One of Newcastle’s newest shopping centres, Cameron Park Plaza, has sold to ASX-200 listed real estate fund manager Centura Capital Group in a deal worth $60.25 million.
“Cameron Park Plaza generated incredibly competitive bidding from private and institutional investors, with the non-metro NSW Neighbourhood Shopping Centre campaign recording five offers at or below a 5 per cent fully leased yield,” said James Wilson of Colliers, who negotiated the deal with colleague Alex James-Elliot on behalf of Woolworths Group development business Fabcot.
Constructed in September 2020, a 3857sqm Woolworths and BWS liquor store anchor the single-level 7037sqm centre. At the same time, the supermarket is complemented by a medical centre, Snap Fitness, PetStock, and 17 specialty shops with more than 90 per cent of gross income underpinned by retailers.
The centre is the first NSW neighbourhood shopping centre sale and leaseback deal for a Woolworths or Coles-anchored site in a year.