Sydney

Retail opportunity up for grabs in Northern Tablelands

CBRE has been appointed to market for sale Armidale Plaza Shopping Centre in New South Wales’ Northern Tablelands region.

09 Oct 2018

CBRE has been appointed to market for sale Armidale Plaza Shopping Centre in New South Wales’ Northern Tablelands region.

Located in the Armidale CBD, approximately halfway between Sydney and Brisbane, the Armidale Plaza Shopping Centre boasts more than 17,000sqm of retail area, and is anchored by Supa IGA, Kmart and Spotlight. 

The centre, owned by Angaet Property Management, is positioned in the CBD of Armidale and draws on the town’s strong regional population of more than 60,000 people. 

CBRE’s Nick Willis has been appointed to market the property for sale, with buyer interest expected to top $30 million. 

He said the centre represented an outstanding value add opportunity. 

“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,” Mr 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 $70 million refurbishment in 2007. 

The Expressions of Interest campaign launches October 11.For Australian/international news or global stories, follow us on Twitter: @cbreaustralia

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2017 revenue). The company has more than 80,000 employees (excluding affiliates), and serves real estate investors and occupiers through more than 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

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Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at https://www.cbre.com.