Big Law

Vicinity Centres sells two major properties

Two shopping centres have been sold, with advice from three firms.

November 24, 2015 • By Felicity Nelson

Firms: Piper Alderman (Vicinity Centres); Sparke Helmore Lawyers (Charter Hall); Mellor Olsson Lawyers (Southern Cross Equity Group)

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Deal: Vicinity Centres has sold Katherine Oasis Shopping Centre (Northern Territory) and Mount Gambier Central Shopping Centre (South Australia).

Value: Undisclosed

Area: Property

Key players: The Piper Alderman team comprised partner Rocco Caruso (pictured), Lisa Olsen (senior associate) and Adam Rinaldi (associate). Sparke Helmore's team included Leon Sakaris (partner) and Brett Ritchie (senior associate).

Deal significance: Settlement of the Katherine Oasis Shopping Centre occurred contemporaneously with the sale of another significant asset owned by Vicinity Centres.

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Charter Hall bought Katherine Oasis Shopping Centre for an undisclosed amount, while Mount Gambier Central Shopping Centre, a sub-regional shopping centre in the largest regional town in South Australia, was sold to Southern Cross Equity Group for $24.5 million.

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Vicinity Centres sells two major properties