SA licensed fund manager Angas Securities sold Mannum Green Shopping Centre (MGSC) for $7.9 million.
The site, which was originally developed by Angas Securities in 2012, is home to a flagship IGA, TerryWhite Chemmart, takeaway food shop, 200 carparks and has the future possibility of a liquor store.
Selling agent Martin Potter of Knight Frank said the final sale price to the undisclosed South Australian company is 18% more than listed on the property’s book value at 30 June 2019.
“The premium sale price achieved is reflective of a considered marketing strategy and the buyer has correctly identified the significant opportunity this site presents," Mr Potter said.
“Defying the trend of other regional areas, the Mid-Murray Council region in which Mannum is located has seen a decade of population growth as many baby boomers trade in city-life for this idyllic lifestyle destination on the banks of the Murray.
“Deliberately built away from the centre of town to service this growing non-tourist population, MGSC is a desirable high-quality asset with key long-term tenancies and strong local patronage, which has proven its value and resilience throughout the challenges of 2020. "
Photo of Mannum Green Shopping Centre from Google Maps