THE Bathurst City Centre looks set to have a new owner.
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Colonial First State Global Asset Management’s Property Enhanced Retail Fund (CERF) is in final negotiations to buy the shopping centre for more than $60 million.
News of the imminent sale appeared in The Australian Financial Review earlier this month.
However, at that point, boutique Sydney fund manager Oracle – which manages the 12,000-square-metre shopping centre on behalf of the National Australia Bank – declined to comment on the imminent sale.
City Centre management was also tight-lipped yesterday.
The Bathurst City Centre opened in March 2009 under developers Ticor and Sam Restifa and at the time was dubbed “the future of Bathurst shopping”.
The $70 million development was anchored by Woolworths supermarket and five mini majors: Harris Farm Markets, The Reject Shop, Dick Smith, Best And Less and Terry White Chemist.
Just two months ago, Harris Farm relocated from the centre to Bernardi’s Supa IGA in Rankin Street, leaving a significant vacancy which has yet to be filled.
The Western Advocate yesterday contacted Bathurst City Centre manager Janelle Matus for a comment regarding the sale of the shopping centre, but had not received a response at the time of going to press.
The purchase of the Bathurst City Centre would be the latest in a string of acquisitions by CERF.
Last month it picked up Riverside Plaza in Queanbeyan from AMP Capital for $62.5 million.
CERF fund manager Jason Ferris said at the time that the deal was in line with the fund’s strategy of investing in sub-regional and neighbourhood centres.