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Elermore Shopping Centre sold for $18m

Property Markets / Transactions

Australia

Nov 14 2017

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Carolyn Cummins, The Sydney Morning Herald

The Bamm Group, owners of the Elermore Shopping Centre, have sold their neighbourhood mall in Newcastle to a private syndicate for $18 million, seven years after first buying and then redeveloping the site.

Steven Lerche, who advised on the sale, originally sold the Elermore Shopping Centre to Bamm Group in 2011 for $8.3 million with Ben Nastasi acting on behalf of the purchaser. At the time, the property was anchored by BiLo on a short lease and now boasts a Ritchies SUPA IGA supermarket supported by 17 non-discretionary specialty tenants.

Go to The Sydney Morning Herald and read the full story.

SOURCE: The Sydney Morning Herald

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