Sydney based family buys Singleton Town Square for $3.75 million

The new owners of Singleton Town Square plan to refurbish the ‘under loved’ facility and turn it into a thriving retail and service centre.

Purchased by a Sydney based family for $3.75 million the centre, located at the corner of John and William streets, is literally a shell of its former self with the majority of the shops vacant and visitors few and far between.

When Ritchies IGA Supermarket closed in early 2015 the centre lost its the largest tenant and over the years other retail outlets such as Furniture Warehouse have also closed.

According to the selling agent Colliers International the major attraction of the centre was the fact it still housed Centrelink, Medicare and iGym. Colliers received 110 enquirers regarding the centre, which covered 8.506 square metres of land held on two separate titles, during the expressions of interest sale process including six offers.

Speaking to the Argus this week the new owners said their company specialised in buying and rejuvenating existing shopping centres.  They held assets for more than a decade as they brought them back to life. Immediate plans for the Town Square included giving it a facelift with painting and lighting a priority.

SOLD: Aerial view of Singleton Town Square which has recently been sold to a Sydney based family.

SOLD: Aerial view of Singleton Town Square which has recently been sold to a Sydney based family.

ATTRACTION: One of the major tenants of Singleton Town Square are Centrelink and Medicare.

ATTRACTION: One of the major tenants of Singleton Town Square are Centrelink and Medicare.

They are also hoping to have the once popular cafe reopen as soon as possible. The underground carpark will be included in the upgrade.

Where the supermarket was once housed the owners are thinking it would be suitable for medical and allied health practices. 

There are currently a number of commercial premises along John Street either recently sold or for sale. Across the road, the building housing Service NSW, has been sold by David Williams Real Estate.  Commenting on the sale Cameron Williams said there was renewed interest in Singleton’s commercial properties.  “As the local economy has improved so have sales,” he said.

The former library building adjacent to the Riverside Park was for sale.

Singleton Council announced in August they were calling for expression of interest for land they purchased in 2013 in John Street. That land at 189-195 John Street was the site of the former Sutton Ford dealership opposite Riverside Park. Council were interested in either the sale and redevelopment or lease and redevelopment of the site.