Brand buys Niagara Park Shopping Centre

Mistlake Investments Pty Ltd, a company owned by property owner and developer Phil Brand, has bought the Niagara Park Shopping Centre for an undisclosed sum.

The Centre, which was developed by Gosford Council some twenty-five years ago, has always suffered from poor management with Council finally deciding to get out earlier this year.

The centre is on a 1.193 ha site and currently 3,925 sqm is leased generating $440,000 per annum plus outgoings and
GST.

Speaking on behalf of Mistlake, Tim Gunasinghe, said that the company had plans for the refurbishment of the centre but initially would consult with the local community to assess what their needs would be.

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