BATHURST City Centre has a new owner, after the Queensland Investment Corporation purchased the property earlier this month.
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There’s no word on how much QIC paid for the shopping centre, which first opened its doors back in 2009.
The shopping centre sold for $62.6 million back in August 2014.
QIC Global Real Estate managing director Steven Leigh confirmed on Tuesday that QICGRE has expanded its property portfolio with the acquisition of Bathurst City Centre, which was purchased from Vicinity Centres.
“Bathurst City Centre is the latest retail centre to join our retail portfolio as part of our QIC Active Retail Property Fund, aligning with our long-term strategy of investing in quality Australian retail assets with strong core returns and growth prospects,” Mr Leigh said.
“Bathurst City Centre is an established neighbourhood shopping centre situated within an engaged and growing regional community, resulting in substantial opportunities for active management.”
While the shopping centre has three mini-majors including JB Hi-Fi, The Reject Shop and Best and Less, it has struggled to fill the fourth mini-major, left vacant since Harris Farm Markets departed the shopping centre and relocated to Bernardi’s IGA back in June 2014.
Twelve months on, a second fruit and veg retailer, Country Produce, opened its doors, only to close permanently just six weeks later.
The shop, still vacant, currently has display cars parked in it.
Mr Leigh was unable to comment on what plans lay ahead for the centre.
“While it is still too early to discuss specific details on the future of the Centre, we look forward to sharing our plans with the community as we reach key milestones,” he said.
“Situated in the heart of the community’s retail area, Bathurst City Centre is anchored by the largest Woolworths supermarket in the region, and supported by JB Hi-Fi, The Reject Shop and Best and Less.”