Private equity fund Altis Property Partners has acquired a shopping centre on the NSW Central Coast for $40.5 million.
The Lake Haven Home Mega centre, spread over nearly 22,000 square metres, is located north of Wyong in New South Wales.
The property is fully leased and its tenant list comprised mainly of national retailers including Bunnings Warehouse, Harvey Norman, Anytime Fitness, Godfreys, Beds R Us and Barbeques Galore.
The identity of the seller was not immediately known. The deal was negotiated by Simon Rooney at JLL.
A booming property market in Australia has seen a rising number of deals in the industrial and commercial property segments. Last month, Mirvac bought Birkenhead Point Shopping Centre and Marina in Sydney’s inner west from Abacus Property Group and South African billionaire Nathan Kirsh for $310 million.
(Reporting by prashant.mehra@businessspectator.com.au)