Herbert Smith Freehills has advised Federation Centres on the sale of two of its New South Wales shopping centres for a combined total of A$100 million.

Both centres – Goulburn Plaza in Goulburn and Westside Plaza in Broken Hill - involved the sale of fully tenanted shopping centres, as well as adjacent vacant land at Westside Plaza.

Westside Plaza is the dominant centre in the region, with major retailers Big W and Woolworths, four mini-majors and 20 speciality shops across the 6.54ha site, which has future development potential. It was acquired by Sentinel Property Group.

Charter Hall purchased Goulburn Plaza where Coles and Kmart are the major retailers, along with 45 speciality stores across the 2.5ha site.

Sydney-based partner Julie Couch led the Herbert Smith Freehills team, supported by senior associate Lindsay Sheather and licensed conveyancer Suzanne Telfer. Solicitor Ravi Arora from Herbert Smith Freehills’ Melbourne office also advised in relation to the release of securities.

Julie Couch said: “These two sales are part of Federation Centres’ portfolio enhancement process that includes selective capital transactions, along with redevelopment and refurbishment.

“We were pleased to be involved in these two sales and act for such a key player in the retail trust world.”

Colliers International was the vendor’s agent for Goulburn Plaza and Savills Australia acted for Westside Plaza’s vendor. Allens acted for the outgoing financier, ANZ.

The deal is yet another example of the significant work of Herbert Smith Freehills’ Real Estate team which last month advised Propertylink on its purchase of 320 Pitt Street, a landmark commercial asset in Sydney, and eight industrial properties across Australia.