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Subregional shopping centre sold

Subregional shopping centre sold

Thomas Wait, Lander & Rogers

Two firms have advised on Charter Hall's acquisition of Bass Hill Plaza Shopping Centre from Memocorp Australia.

Firms: Lander & Rogers (Memocorp Australia); Sparke Helmore (Charter Hall Group)

Deal: Charter Hall purchased Bass Hill Plaza Shopping Centre, NSW, from Memocorp Australia.

Value: Undisclosed

Area: M&A

Key players: The Lander & Rogers team was led by property, projects and infrastructure partner Thomas Wait (pictured), with assistance from paralegal Samantha Williams.

The Sparke Helmore team consisted of partner Theo Casimatis and senior associate Brett Ritchie.

Deal significance: Property group Charter Hall acquired Bass Hill Plaza Shopping Centre from investment company Memocorp Australia.

The subregional shopping centre is anchored by Woolworths and Kmart with 53 specialty stores. The site also has development potential for a further 46,600 square metres of residential and retail development.

Lander & Rogers lead partner Thomas Wait said: “This asset has been held by Memocorp for over 25 years. The sale reflects the strength and interest in the current retail market and the opportunities for vendors wanting to realise the value in their investments.”

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