Nick Andrianakos invests over $135 million for half stake in Adelaide shopping mall

·

Rich Lister Nick Andrianakos has invested for the first time in a major shopping centre, acquiring a $135 million-plus half stake in Adelaide’s Colonnades mall, The Australian Financial Review (AFR) reports.

The deal comes almost half a century after the Greek migrant bought his first petrol station in 1973, and later went on to create the 54-asset Milemaker chain of petrol stations.

READ MORE: 11 Australians of Greek heritage named on the prestigious ‘Richest 250’ list.

According to the AFR, Andrianakos sold the fuel retail business to Caltex in 2016 in a $94 million deal. He retained the real estate to include in the growing commercial property portfolio of the family’s Nikos Property Group.

Adelaide’s Colonnades mall.

Nikos’ co-owner in the Colonnades mall sale is ASX-listed Vicinity Centres, whose biggest shareholder is another Rich Lister, John Gandel.

READ MORE: Petrol king Nick Andrianakos takes over Adelaide tower in $175 million deal.

“The opportunity to acquire a substantial shopping centre such as Colonnades that is professionally managed by Vicinity is a good opportunity for us and helps diversify our investment holdings,” Nikos chief executive, Theo Andrianakos, said in a statement to The AFR.

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

Trauma and legacy of Asia Minor women honoured in Melbourne

The Greek-Australian Cultural League (GACL), with the Thessaloniki Association “The White Tower,” hosted a moving commemoration.

Comedy star George Kapiniaris scores lead role in Earlwood Festival

Australian comedy star George Kapiniaris is bringing his trademark humour and penchant for cultural celebration to Earlwood this weekend.

Derrimut 24:7 Gym founder Nikolaos Solomos faces $12.5m tax debt as staff go unpaid

Derrimut 24:7 Gym founder and owner Nikolaos Solomos is under mounting pressure as at least 15 instructors remain unpaid for a month.

Mercury Psillakis’ friends return to surf in tribute

Surfing buddies of Mercury Psillakis reunited on Sydney’s northern beaches to catch waves in his memory, a week after his death.

Police officer Alexander Papanastassis granted bail after manslaughter charge

Alexander Papanastassis, 29, has been charged with negligent manslaughter following the death of Hoppers Crossing man Luke Briggs.

You May Also Like

Ariel Winter slices off tip of thumb while making Greek food

Ariel Winter took an unplanned trip to the hospital yesterday after slicing off the tip of her thumb off while making Greek food during lockdown.

How to vote in the 2023 elections as a Greek abroad

Prime Minister Kyriakos Mitsotakis reiterated last Sunday that the next national election will take place in the spring, in April or May.

Angelo Pandeli named in Australian cartel responsible for $1.5 billion drug imports

Angelo Pandeli has been named by the Australian Criminal Intelligence Commission in a cartel responsible for $1.5 billion drug imports.