InvestingTop Ryde City shopping centre about to hit the market as receivers seek estate agentsTop Ryde City shopping centre about to hit the market as receivers seek estate agents
The Top Ryde City shopping centre in Sydney’s northern suburbs is expected to be marketed shortly after receivers McGrathNicol sought sales campaign proposals from estate agencies.
The centre has been in the hands of external administrators since the company behind the redevelopment, Bevillesta, entered voluntary administration in February 2011 after being unable to repay debts.
Numerous potential buyers have run a ruler over the property since it fell into administration, with the retail centre almost sold in July 2010 to a GPT-managed fund.
Bevillesta appointed BRI Ferrier as administrator, with creditors to the company claiming they were owed about $900 million. It included a syndicate of five banks owed more than $600 million, according to Fairfax Media.
Top Ryde City covers 78,215 square metres of retail space and has about 3,000 undercover car parking spaces. It includes major national retailers, a cinema complex and more than 250 speciality stores.
