Developer seeks buyer for near-new coastal shopping centre
The Mercato on Byron shopping centre and an adjacent development site is being offered for sale.
Mercato on Byron Pty Ltd is seeking expressions of interest for the two properties, at 98-116 Jonson St.
Being marketed by JLL in Sydney, the listing includes 1.1 hectares of land in central Byron Bay.
"JLL is pleased to present a rare opportunity to acquire a trophy real estate holding in one of Australia's most famous destinations - Byron Bay," the agency said in its listing.
"Mercato on Byron, a prime neighbourhood shopping centre, and the adjoining development site are located in the geographical centre of the Byron Bay CBD and offers an unprecedented 1.1-hectare (combined) site."
The Mercato on Byron shopping centre was completed in 2019.
The company proposed a $34 million hotel for the adjacent site, which used to be home to Woolworths, but this was rejected by the Northern Regional Planning Panel in September last year.
The company last year lost a Land and Environment Court case against Byron Shire Council, in which it sought to change some conditions of consent.
JLL said in the listing the properties represented "a unique opportunity to acquire a high-quality neighbourhood shopping centre, with strong forecast population and retail expenditure growth in the trade area".
The agency said the centre had been performing strongly.
"Mercato on Byron and the adjoining Development Site are being offered individually or in one line by way of International Expressions of Interest," JLL said.
Expressions of Interest close at 2pm on Thursday, March 18.