While neighbourhood and smaller shopping centres continue to trade well in the pandemic times, CBRE has sold the Entrada Centre at 20 Victoria Road, Parramatta for about $41 million. The vendor is the Cook Property Group, founded by and controlled by Ben Cook of Auckland. The Group's core business is long term commercial property investment in Australia and New Zealand. The purchaser is an Australian private investment trust.
Entrada is comprised of eleven commercial/retail tenancies and a supermarket on the ground floor and level 1, plus 196 car parking spaces. Total area is 5,570 sqm. Tenants include Coles, Liquourland, a medical centre, gym and various small retail outlets. The centre has a built-in customer base, being situated below the whole Entrada complex comprising a total of five apartment buildings of 5, 6 and 9 storeys. It is located across from the future Prince Alfred Square light rail stop, which opens in 2023.
The Centre last traded at $41.325 million in 2017.
CoreLogic Australia