MINTO Mall has finally sold and work has started on bringing it back to life.
This week, Stonebridge Property Group director Carl Molony confirmed that a Sydney-based private investment group had bought the dilapidated mall, but he could not say who they were.
"Contracts have been exchanged for the sale of Minto Mall," Mr Molony told the Advertiser.
"That's for the main centre; it excludes the two freestanding tenancies which were the Hungry Jack's and Aldi."
Mr Molony said Stonebridge Property launched an extensive public campaign for the sale which had generated a lot of interest in the site.
"It's obvious from the level of community interest that a redevelopment of that property would be welcome," he said.
Director of Pro Management Group John
Muhary said the new owners had hired his company to act as project managers for the mall.
"Despite being rundown, the new owners will actively pursue the refurbishment of the centre," Mr Muhary said.
"Discussions are currently being had with large retail groups that wish to be involved in the refurbished centre that will assist in bringing the centre back into a suitable community shopping centre."
Owner of Minto Mall Pharmacy John Ma said the news would be a relief for shopkeepers.
"This is good news for the community as well," he said.
"[The shopkeepers] are just listening to everyone to see who's moving first at this stage because no one knows it's been sold."
Campbelltown mayor Anoulack Chanthivong said the mall had been a big concern for the council and its sale was great news for the community.
"I'd like to see Minto Mall go back to its glory days, like when I was younger," Cr Chanthivong said.
"With the new redevelopments happening in Minto . . . there's a great need for a shopping centre and commercial precinct to service the needs of the new families that are moving into the area."
Former owners Michael Kwok and Helen James of Kapb Management in St Leonards were forced to hand over the centre in August 2010 when it went into receivership.
Boutique property group Cerno almost bought the mall last year but the sale fell through when a major tenant, Coles, would not commit to the centre.
The Fix Minto Mall Facebook group has been buzzing with suggestions as to who would buy the mall since it went into receivership.
Recently, rumoured buyers have included Westfield shopping centres.
The Advertiser has also reported rumours that Woolworths planned to buy the mall, but the supermarket giant refused to confirm or deny such rumours.