Australian property fund manager Natgen has reinforced its commitment to regional growth with the acquisition of Centennial Plaza, a Coles-anchored retail shopping centre in Cooma, the gateway to the Snowy Mountains region.
The deal delivers a key addition to Natgen’s commercial property portfolio and positions Natgen investors to benefit from strong regional economic drivers, including government-backed infrastructure investment and booming tourism.
Natgen Managing Director Steven Goakes said the acquisition reflected Natgen’s focus on identifying undervalued, income-generating assets with clear pathways for growth, in accordance with Natgen’s investment philosophy.
“This is a high-quality retail centre at the heart of a thriving regional economy underpinned by agriculture, tourism, and multibillion-dollar infrastructure projects like Snowy Hydro 2.0. Centennial Plaza offers investors an attractive combination of immediate yield of 8% p.a and long-term upside,” Goakes said.
“While many businesses prepared to wind down at year-end, we remained focused on securing strategic opportunities for our investors, and Centennial Plaza is an exceptional example. Acquiring the Centre for $13.725 million, approximately 40% below replacement cost, gives us a significant value buffer from day one, with the Centre generating immediate, stable income.”
High-Quality Retail Offering with Growth Potential
Located at 116-128 Sharp St, Cooma, Centennial Plaza spans 4,395 sqm of gross lettable area on a 6,099 sqm site and features a strong mix of national tenants and essential services. Anchored by a high-performing Coles supermarket on a long-term lease (initially to 2030 with further 20-year options), the Centre is complemented by The Reject Shop, Commonwealth Bank, Bendigo Bank, Ray White Real Estate, and the region’s only Tesla Superchargers. The Centre has 80% of gross specialty income secured under fixed increases.
With 210 parking bays, dual-street access, and the convenience of underground parking, including Coles’ popular Click & Collect service, Centennial Plaza serves as a vital hub for both locals and the 2.7 million annual visitors travelling through Cooma to Australia’s premier snowfields, including Perisher, Thredbo, and Charlotte Pass.
Cooma: A Strategic Gateway with Economic Tailwinds
Cooma’s central location at the junction of major highways connecting Canberra, the NSW South Coast, and Victoria makes it a natural stopping point for travellers heading to the Snowy Mountains. Cooma acts as the commercial and service centre for the 15,162 sq km Snowy Monaro region, home to three major supermarkets—Woolworths, Aldi, and Coles.
Economic growth in the region is propelled by Snowy Hydro 2.0, Australia’s largest renewable energy project. The $12 billion infrastructure investment will add 2,200 MW of on-demand generating capacity and significant employment opportunities, providing a long-term boost to the local economy.
Active Management and Value Creation
Natgen plans to actively manage Centennial Plaza over the next five to six years, leveraging its expertise to reposition tenancies, optimise Centre activity, and drive income growth. A negotiated 18-month rental guarantee with the vendor secures income continuity, giving Natgen time to enhance the asset’s performance while maintaining consistent investor returns.
“Our focus is on repositioning assets like Centennial Plaza to maximise their potential. The fundamentals here—strong tenancy mix, regional economic growth, and significant barriers to new competition—give us confidence in delivering long-term value for our investors,” Goakes said.
About Natgen
Based in Brisbane, Qld, Natgen specialises in managing investment and development trusts across Queensland, New South Wales, and Western Australia. Natgen investors, comprising SMSFs, high-net-worth individuals, and sophisticated investors from every state and territory in Australia, to benefit from access to high-quality commercial property opportunities under a managed investment structure.
