Sydney’s Top Ryde shopping Centre valued at $350 million, leaving bankers short

Jonathan ChancellorJun 19, 2012

The Top Ryde Shopping Centre has been given a $350 million price valuation, according to the Australian Financial Review.

The valuation was ordered by receivers a few weeks ago for the centre in Sydney’s north-west as a prelude to its anticipated sales marketing campaign.

But it’s being held back from sale for now while the banks mull over their options, the AFR suggests.

The centre owes $600 million to its banking collective creditors after Bevillesta was placed into administration with BRI Ferrier in February 2011.

The centre had been on and off the market over the past few years with no result.

The 78,215-square-metre centre will be the first big regional mall in years to come to market as a full sale.

Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.