INFRAMAX, the national property developers, have bought and taken transfer of the Lakeside Shopping Centre on Main Road, Lakeside.

John Weaver, executive director of Inframax Developments, said his company, while continuing to focus on short-term residential developments, also aimed to build up a property investment portfolio, particularly one to which they can add value down the line.

"This Lakeside project," he said, "meets our criteria because it is a shopping centre in a solid growth area and has the potential for further expansion."

The centre was bought from Spearhead Property Holdings for an undisclosed amount. Colin Plit, a joint venture partner and investment consultant to Inframax, who concluded the deal, said the centre had a lettable area of 5 350m2 and that the tenants included a recently refurbished and flourishing Spar (with 1 158m2), a Diamond Discount Liquor Store, On Tap, a plumbing and sanitary ware outlet, Lakeside Pharmacy, Chinese and pizza takeaway outlets and, on the first floor, a Hickory's Pub and a popular dance studio. The centre also boasted a successful Total service station and a Mica garden centre.

The centre, Weaver added, enjoyed excellent exposure to Main Road and the surrounding areas. In the years ahead, he said, the Silvermine development would add significantly to the catchment area.

For further information please contact Weaver at 021 686 0220.