This sale marks JLL’s 5th regional NSW supermarket anchored transaction in the last nine months, and the Retail Investments NSW team facilitating over $117 million in deals.
Cooma’s Centennial Plaza, a prominent Coles-anchored neighbourhood shopping centre in the Snowy Mountains, has sold for $13.725 million to a Brisbane-based syndicator.
JLL’s Sebastian Fahey and David Mahood brokered the sale. The deal was concluded post the close of the Expressions of Interest (EOI) campaign and was sold by Adelaide based syndicator FRP Capital and purchased by Brisbane based syndicator Nat Gen.
Sebastian Fahey, JLL Senior Executive, Retail Investments – NSW commented on the transaction: “The sale of Centennial Plaza confirms the ongoing demand for well-positioned, supermarket-anchored centres in regional locations within NSW. In 2024, neighbourhood centre transactions in Regional NSW increased by 22% based on the previous year, clearly showcasing the demand from investors for regional NSW assets outside of the tightly held Sydney market.”
Centennial Plaza, located at 116-128 Sharp Street in Cooma, spans 4,395sqm of gross lettable area (GLA), comprising a Coles supermarket, 13 specialty shops and two office tenancies. Its diverse tenant mix and strong anchor covenant proved attractive to investors seeking stable income streams in regional markets.
David Mahood, JLL Senior Executive, Retail Investments – NSW, added: “Looking ahead, we anticipate this demand to persist, especially for assets that offer a blend of stable income and potential for future growth. The ongoing infrastructure investments in regions like the Snowy Mountains are likely to further enhance the appeal of strategically positioned retail assets in these areas and continue to attract strong investor interest.”
Steven Goakes, Managing Director of Nat Gen stated “The acquisition of Centennial Plaza aligns with Natgen’s investment philosophy of targeting defensive, supermarket-anchored assets in growth regional locations. The centre’s strong tenancy profile and strategic positioning within the Snowy Mountains corridor presents a compelling long-term investment opportunity. We continue to see value — as do our investor clients — in well-located regional convenience centres that offer income resilience and the potential for sustainable capital growth.”
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