Plaza owners Vicinity Centres has declined to comment about Wodonga being part of a recently announced asset sale program.

Wodonga has been touted as being “on the block” for sale with other centres at Tweed Heads and Maitland.

Wodonga Plaza, with its anchor tenants Woolworths, Coles and Target, is reportedly worth more than $40 million.

Vicinity Centre chief executive Angus McNaughton confirmed the asset divestment program but declined to comment on specific locations.

“With a range of portfolio enhancing opportunities available to us through investment in our development pipeline and selective acquisitions, including continued expansion in the Outlet Centre space, we are extending the size of our asset divestment program,” he said.

The Woolworths supermarket on the corner of High Street and Elgin Boulevard shut at the weekend pending a $20 million redevelopment.

The Mann Central shopping centre will be built diagonally opposite with Coles and Kmart as anchor tenants.

Meanwhile, the Yarrawonga Bunnings store, which recently started construction, has been put on the market by owners, the Pellicano Group.

The warehouse is being built on the Murray Valley Highway and is the first Bunnings warehouse offered for sale this year.

“We have been enjoying what Yarrawonga and the region has to offer for over 25 years and, simultaneously, have completed a number of projects within Yarrawonga,” Renato Pellicano said.

“We have seen very consistent population growth and tourism over this time, which has seen an increase in demand for retail and commercial services.”

CBRE has been appointed the exclusive selling agents for the site.

“This property is ideally positioned to capitalise on the rapidly growing catchment within the Kaiela Busienss Park,” CBRE's Justin Dowers said.

“We are finding that the lack of available investment grade properties for sale in metropolitan Melbourne has had a direct effect on the continual compression between regional and metropolitan investment assets.”