Centuria Divests +$70M of Central Coast Retail Assets

Lisarow Plaza and Belmont Citi sold as end of fund terms’ exit strategy

• $40m Belmont Citi Centre held since 1996, anticipated 15% IRR; $31m Lisarow Plaza held since 2017
• Illustrates strong private investor demand for well-performing regional retail centres
• Divestments provided investors an opportunity to recycle proceeds into new Centuria fund opportunities

Australasian real estate funds manager, Centuria Capital Group (ASX: CNI or “Centuria”), has divested two long-held Central Coast NSW daily needs retail centres for a combined $71 million, indicating strong private investor appetite for well-performing regional retail assets supported by a growing local population.

Belmont Citi Centre and Lisarow Plaza were held by separate unlisted Centuria funds that reached their full term. However, strong investor appetite for retail assets persists with many of the expiring funds’ investors committing to new Centuria investments, including the recently closed single-asset Centuria Logan Super Centre Fund.

Centuria acquired Belmont Citi Centre in November 1996 for c.$12 million and has exchanged contracts to divest for $40million, delivering an anticipated c.15% IRR for the single-asset fund investors. The fund will be wound down following settlement in June 2025. Belmont Citi Shopping Centre provides a c. 6,100sqm retail offering including a Coles supermarket and Liquorland, 20 specialty shops, two ATMs and more than 300 car parks.

Lisarow Plaza was acquired in 2017 and the asset’s sale was settled in May 2025 for $31million. The asset was one of two held in an unlisted fund. Lisarow Plaza, is a 5,250sqm daily needs retail centre, anchored by a full-line Coles supermarket and Liquorland, complemented by 16 specialty stores, two ATMs, and 274 on-grade car parks.

Bruce McCully, Centuria Head of Retail, said, “Domestic retail is experiencing a recent renaissance as expanding net migration is driving population growth in key metropolitan and regional hubs. Both Lisarow and Belmont are within a two- hour drive from Sydney and part of the Central Coast community, which is anticipated to grow more than 18% by 2046¹. These daily needs retail centres are indicative of the strong investment appetite for quality retail precincts that service a growing community.

“For almost 30 years we have seen Belmont Citi Centre evolve into a catalyst for the Belmont region, a place to shop and socialise while across the past eight years, Lisarow Plaza, has been a central to the growth of its local community. We wish both new owners well in the continuing evolution of these well-regarded Central Coast properties.”

Jesse Curtis, Centuria Head of Funds Management said, “Centuria continues to identify well-performing retail assets that benefit from macroeconomic tailwinds. In the past 18 months, we have acquired $220million of retail assets across Australia. As our long-held funds come to term, Centuria continues to provide new, compelling investment opportunities to the benefit of our investors.”

In February 2025, Centuria acquired the Logan Super Centre in Qld for $115million and in 2024 it acquired the $70million Halls Head Central, WA and the $35m Manning Mall NSW.

Belmont Citi Centre is located at 41 Macquarie Street, Belmont NSW.

Lisarow Plaza is located on the corner of Parsons Road and the Pacific Highway, on the Central Coast, NSW.

Stonebridge’s Alex James-Elliot and Philip Gartland acted on behalf of Centuria for Belmont Citi Centre’s divestment. Colliers’ James Wilson and Ben Wilkinson acted for Centuria on Lisarow Plaza’s divestment.

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¹ Source: ID Community Central Coast NSW Population summary