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Abacus Sell Liverpool Plaza

Abacus Property Group has sold Liverpool Plaza to an undisclosed local group for $46 million.

The Centre comprises an Aldi Supermarket with approximately 50 specialties. Abacus acquired the asset and two adjoining sites in 2004 for $37.1M and underwent a full refurbishment in 2013 to modernise its internal retail malls, improve entry canopies and upgrade external facades.

In 2014, Abacus lodged a planning application to rezone the site for a mixed use development, to increase the FSR from 3:1 to 6:1 and to increase the height limit from 18m to 100m. The application was approved however no further action has taken place.

Abacus says that although the company was not initially trying to actively sell Liverpool Plaza, and an off market approach to them fell in line with the company's strategy to focus more on its "super convenience" shopping centres; Ashfield in Sydney and Lutwyche in Brisbane.

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