Snowy Mountains shopping centre sells for $13.7 million

Cooma’s Centennial Plaza, a Coles-anchored shopping mall in the Snowy Mountains, has been sold to Brisbane-based syndicator Natgen Group.

The $13.725 million deal was brokered by global commercial real estate and investment management company JLL.

“In 2024, neighbourhood centre transactions in Regional NSW increased by 22 per cent based on the previous year, clearly showcasing the demand from investors for regional NSW assets outside of the tightly held Sydney market,” said Sebastian Fahey, JLL senior executive, retail investments NSW.

The plaza, previously owned by Adelaide-based FRP Capital, has 4395sqm of gross lettable area and includes a Coles supermarket, two office tenancies and 13 specialty shops.
“The centre’s strong tenancy profile and strategic positioning within the Snowy Mountains corridor presents a compelling long-term investment opportunity,” said Steven Goakes, MD of Natgen.