Home » Dandy Plaza sold for $147m

Dandy Plaza sold for $147m

06/09/2022

Dandenong Plaza has been reportedly sold for $145 million to private developer Ross Pelligra.

The price tag was well lower than the $197 million paid by MA Financial, managed by Armada, in 2015.

The Australian Financial Review reported that Mr Pelligra plans to invest up to $700 million into redeveloping the shopping centre with a mix of residential, offices, a hotel and retail.

Last year, he had taken over the former Ramada hotel nearby. It is being refurbished into a Holiday Inn.

Pelligra was contacted for comment.

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