Beach shopping centre for sale
By MEL MARTIN
YOU won't find it in the classifieds, but the Moonee Beach Shopping Centre is up for sale.
"It's a good opportunity for us to sell while the market has a huge demand for shopping centres," developer Ross Warburton said.
"We're putting up both the Moonee Beach Shopping Centre and another shopping centre we have in Dee Why (Sydney's northern beaches), then we'll look at reinvesting that money into further development."
Mr Warburton was not divulging the price tag, only saying it had gone out to tender nationally.
"Once we receive the tenders we'll decide whether to continue with the sale or whether we'll hang onto it," he said.
Nineteen specialty retail spaces are currently untenanted at Moonee Beach Shopping Centre, but Mr Warburton was unconcerned about the vacancies.
"There is enormous potential in growth in the coming years for the area, there are great opportunities," he said.
"It's taken a while to lease, but we're progressing with it and are in negotiations with other tenants, and there is a proposed development at the adjacent site."
This was echoed by centre manager Debbie Grimley, who was nonplussed by the potential sale.
"It's totally up to the owners when they want to sell. It's a financial opportunity for them and makes no difference to the centre," she said.
"Being a new centre always takes time, but it's doing quite well and we're slowly filling up."
Ms Grimley added new tenants were coming in but neither she nor Mr Warburton would reveal who they were.