Bakewell Shopping Centre in Palmerston sold for $33 million

THE Bakewell Shopping Centre in Palmerston has been sold for $33 million

The Bakewell Shopping Centre has sold for $33 million. Picture: Glenn Campbell

THE Bakewell Shopping Centre in Palmerston has been sold for $33 million.

It is the first acquisition in the Northern Territory by the SCA Property Group.

Supermarket giant Woolworths sold the Bakewell Shopping Centre as part of a $130 million asset selldown across four locations in Australia.

It was the final in the shopping centre portfolio to be sold after going on the market in February this year.

The Woolworths supermarket and BWS liquor store are the shopping centre’s anchor tenants, but it also has 10 specialty tenants and has 287 car parks.

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Woolworths created the SCA Property Group as a real estate investment trust to control its shopping centres in Australia and NZ.