Nick Andrianakos invests in Melbourne mall for $134 million

·

Nick Andrianakos has bought a half-stake in a mall in Melbourne’s north for $134.5 million from ASX-listed company Vicinity Centres, according to The Australian Financial Review.

The acquisition of an interest in Broadmeadows Central comes a year after made a $138.2 million investment in Adelaide’s Colonnades centre last year. 

Mr Andrianakos is a Greek migrant who built his fortune through the Milemaker chain of petrol stations. Ranked 92nd on the Rich List with a fortune of $1.49 billion, he bought his first service station 50 years ago and created a 54-site chain.

Mr Andrianakos then sold the business to Caltex for $95 million in 2016, while retaining the freehold land on 30-year leases. That real estate is now part of a growing commercial property portfolio held by the family’s Nikos Property Group.

Broadmeadows Central is anchored by a Kmart and three supermarkets: Aldi, Coles and Woolworths. Photo: The Australian Financial Review

Mr Andrianakos‘ connection with Vicinity, which is the joint owner and operator of both the Melbourne and Adelaide shopping centres, has been strengthened by his latest purchase.

“We began our business in the north of Melbourne and we own seven service stations within 7 kilometres of the shopping centre,” Mr Andrianakos told The Australian Financial Review.

“The area has always been good to us because we understand the people who live in the area and we look forward to working with Vicinity to maximise the potential of the property.”

Source: The Australian Financial Review

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Fasolada: Niki Louca shares recipe for baked beans with tuna salad

Fasolada is one of those comfort foods that reminds us of grandparents, Greece, cold days, warm houses, fresh homemade bread.

Hellenic Writers’ Association of Australia call for ‘O Logos’ magazine submissions

The Hellenic Writers’ Association has called on members and Greek Australians to submit original works to the 2024 edition of ‘O Logos.’

Indian Hellenism: Bactria and the Indo-Greek Kingdom

The Indo-Greek Kingdom is arguably the most fascinating of all the Hellenistic Kingdoms, initially emerging from the Greek-Bactrian Kingdom.

2035: The end of the Greek community of Australia as we know it (Part Three)

In his previous article professor A.Tamis, referred to the consequences that will follow the year 2035 for the Australian diaspora.

An invitation to all: The Antipodean Palette Art Exhibition 2024 and Poetry Afternoon

The Greek Australian Cultural League (GACL) will again proudly present the Antipodean Palette Group Art Exhibition 2024.

You May Also Like

Theo Theophanous steps down from board of State Trustees Victoria

Former Labour minister Theo Theophanous has resigned from the board of State Trustees after a two-year corruption investigation.

The historical causes of the division in the diaspora

The Greeks are by nature inquisitive, hospitable, ambitious, honest, enthusiastic, compassionate, extremely communicative and pacifists.

Three-year-old girl pulled alive from rubble days after deadly Aegean earthquake

A wounded three-year-old girl was rescued on Monday, days after a powerful magnitude 6.7 earthquake hit Turkey’s Aegean coast.