Minto. Mall sold

Minto Mall, one of Australia’s worst performing shopping centres, according to The Australian Financial Review, has been sold for an undisclosed amount. However, industry sources estimated that, considering its poor condition, it would have gone for less than $20 million, perhaps as little as $15 million. A Sydney-based syndicate of private investors bought the mall, which has been in the hands of receiver, KordaMentha since August 2010,

Minto. Potential buyer for mall

Director of Stonebridge Property Group, Carl Molony, said a potential buyer had inspected the Minto Mall "We are now in an exclusive due diligence period with a party to exchange contracts," he said. Stonebridge Property Group's website said the mall had great potential. "This outstanding offering has been coveted as one of the few remaining sites within Sydney capable of becoming a substantial sub-regional shopping centre," it said.

Minto. Mall up for sale

Receivers KordaMentha have decided to sell the under performing Minto Mall shopping centre, which includes two supermarkets, 66 specialty shops and stand alone Aldi and Hungry Jack’s outlets. The centre has about 1000 car spaces. World Best Holdings went into receivership in August.

Minto. Receivers claim mall

Insolvency expert, KordaMentha, has stepped in as receivers of Minto Mall Shopping Centre and has appointed Jones Lang LaSalle to manage the complex. The owner, World Best Holdings, has gone into receivership. Accountants, RSM Bird Cameron, are investigating the assets and working with creditors. Campbelltown Mayor, Aaron Rule hopes the mall can be transformed into a complex reflecting the redevelopment occurring in the area.

Minto. Mall on the market

KordaMentha is the receiver and manager of the Minto Mall shopping centre. Peter Marsden from RSM Bird Cameron has been appointed liquidator. Former owners Michael Kwok and Helen James, of Kapb Management in St Leonards, own Miller and Greystanes shopping centres and also owned the Fairmont Resort in the Blue Mountains. Industry sources said it could sell for between $20 to $30 million.