Tuggeranong Hyperdome = 50% Centro, Centro Properties Group circling the plughole

Hope the good people of nappy valley arent hoping Westfield will improve the place, all I’ve seen of their malls is to maximise every square centimetre of floor space and push rentals sky high with very little benefit to the consumer.

The little retailers get pushed out and it just becomes another generic Westfield strip mall.

Very boring and expensive.

said young ladies will need to return to Erindale shops..

Statements to the ASX yesterday indicated that Centro are not bound by any loan contract clauses that would force them to sell property.

I doubt Leda will buy it back, they basically sold it to gain leverage to buy and refurbish other centres around the country. I wouldn’t be surprised if we end up with a 3rd Westfield if they do end up having a fire sale, or it will be picked up by Mirvac who own Homeworld across the road.

And to answer the question about where the preggers 14 yr old girls would go (in the very minute chance that it would ever close).. back to Queanbeyan 😉

Consumers won’t see any different. Centro’s administrators will basically sell off the stake to the highest bidder who’ll want it dirt cheap so they can then in turn boost their balance sheets 🙂

The other half is owned by Leda Holdings, who were bought out by Centro a few years back.
They also own part of the other Hyperdome too.

Who owns the other 50%? It’ll probably be them buying it out.

It’s not that surprising that the Hyperdome is majority owned by a debt-laden property investment company. The whole place wreaks of lowest-cost upgrades and maintenance.

Expect it to be purchased by the likes of Westfield at bottom dollar, at which point they will have a reasonable asset that they have purchased at significantly below market value.