Rich Lister Nick Andrianakos has invested for the first time in a major shopping centre, acquiring a $135 million-plus half stake in Adelaide’s Colonnades mall from the real estate empire accumulated by Perth property magnate Stan Perron.

The deal, struck on a generous yield of around 7 per cent, comes almost half a century after the Greek migrant bought his first petrol station in 1973, after cleaning at hotels and working on the General Motors assembly line.