The entire Orange Homemakers Centre is up for sale.
The Bathurst Road centre's major tenants include Harvey Norman, Supercheap Auto, Jaycar, Autobarn, Spotlight and Sheridan.
It is owned by the Sentinel Property Group.
Sentinel executive chairman and chief investment officer Warren Ebert said under the terms the property trust operated there was an Australian Securities and Investments Commission limit on how long it could own a property.
He said that was due to expire as they had owned the site for about seven years.
"The time's up," he said.
"We would be keeping it for sure [if they could].
"We like Orange, there is a lot happening. We love the regional areas."
Mr Ebert said they would consider buying other sites in Orange.
"Without a doubt, if there was something big enough. We have $1.2 billion under management," he said.
Mr Ebert said the site was on four separate titles that could be sold separately or as a package.
He said he expected it would sell for between $20 million and $30 million.
Mr Ebert said the centre was performing well with major tenants signing new leases.
He said some were also expanding their sites.
"We have signed a new 10-year lease with a major tenant who is expanding," he said.
Advertising for the centre sale states Harvey Norman has signed a lease until 2031 and is expanding.
Mr Ebert also confirmed the company was involved in legal action with a local group over its failure to take over the former Bunnings building.
The John Davis Motor Group announced in March it had axed plans to relocate into the site due to the COVID-19 pandemic's effects on the car sales industry.
Sydney real estate firm Stonebridge Property Group is handling the homemakers centre sale along with JLL Retail Investments.
Expressions of interest to buy the centre are being sought until Tuesday December 15.
An advertisement for the centre said when it was fully leased out the homemakers centre would earn $1.77 million a year in net income.
The property is described as a "land rich homemaker centre with strong national tenant representation".
It said it was the "only true large format precinct in greater Orange".
The homemakers centre is on 4.5 hectares of land including more than 17,000 square metres of retail space.
There are 594 car parking spots at the site.
The Central Western Daily reported in 2014 the Sentinel group had paid $18.3 million for the site.
It also announced plans to expand the site with more retailers.
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