TWO of Albury’s biggest shopping centres, West End Plaza and Lavington Square, which have a combined value of more than $130 million, are both up for sale.
Lavington Square was put on the market almost 10 months ago by owners Vicinty, which has also decided to try and sell West End Plaza.
The same agent, JLL, is handling both sales with expressions of interest closing on August 23.
According to Vicinity’s 2017 annual report, the value of West End Plaza rose from $64.4 million to $70 million in the space of 12 months with the value of Lavington Square climbing from $58 million to $62.3 million in the same period.
Coles and Kmart are the anchor tenants of West End Plaza, which was sold to the Centro Properties Group 13 years ago for $56 million with one of the previous owners being its original developer, the late Tom Pearsall.
West End Plaza opened in 1985 and was later extended to Kiewa Street in 2000.
Big W and Woolworths are the anchor tenants of Lavington Square which opened its doors in 1979 with NSW Premier Neville Wran attending the official opening.
Centro later changed its name to Vicinity at one point owned West End Plaza, Lavington Square and Wodonga Plaza with the latter being sold to M/Group last year for $43 million.
Agent Simon Rooney couldn’t be contacted for comment.
West End Plaza has almost 16,000 square metres of floor area and is supported by 596 underground carparks.
Lavington Square is bigger with 20,467 square metres of floor area 1036 parking spots.
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