The purchase of the shopping village took place on November 7.

“The centre will be professionally managed and we are very excited about the proposed future growth in the towns of Tea Gardens and Hawks Nest,” a spokesperson for the group said.

“We are delighted to have secured a buyer for our shopping centre who understands the particular needs of regional shopping centres and we look forward to a long and close association with the new owners,” Crighton Properties managing director Geoff Cox said.

The group has over 30 years experience in regional shopping centres.

The first stage of the centre was built in 2003.

The price paid represented a yield of 8.75 per cent.