THE North Nowra Shopping Centre was sold for $4.7 million to a buyer in Nowra last week.
The sale was orchestrated by Scott Baxter from Ray White Commercial who said the marketing campaign attracted 80 enquiries.
“It was sold by a family from Sydney’s Northern Beaches who had owned the shopping centre for about 20 years,” he said.
Twelve bidders were registered for the auction but the final bidding battle was between two determined local people.
“You don’t get to that figure without there being a lot of interest or without an under bidder,” Mr Baxter said.
“At the end of the day the market has spoken.
“The buyers saw it as a good value product with no competition to occur in the future.
“While it will never be a Coles or a Woolworths situation, there will always be a demand for that type of shopping centre,” he said.
One long-term North Nowra resident who agreed with Mr Baxter about demand was Pym Bennett who has been making use of the North Nowra shops for 30 years.
“The people who run these businesses are lovely, everybody knows who you are and they often know what I want even before I ask for it,” she said.
“These shops are very handy for me as I just live up the road and I hate going to town.
“I’ve seen it change a lot in 30 years though. I remember there used to be a fruit and veg shop where the IGA is now and there used to be a shop that sold fresh seafood too.
“I was really unhappy when that shop went, I love fresh fish. Now I think that’s the only thing you can’t buy here,” she said.
Butcher Wayne Kennedy bought the North Nowra Butchery from his brother Ken in the 1990s.
“It’s a very well established shopping centre and it does well,” he said.
“The business people all look out for each other and pass on business when we can to our neighbours.
“I’ve got a catering service and I use the takeaway for my salads and the baker for my cakes.
“Our customers are pretty loyal, I’m serving people now who used to come in with their mum and dad, now they are coming in with their children,” he said.