It was sold by Sydney-based property developers Charter Hall which reportedly paid $27.9 million for it four years ago.

During the sale process it was disclosed the anchor tenant, Woolworths, was enjoying high turnover.

It was also stated "significant upgrades" for the centre had been proposed.

Katherine Times has repeatedly questioned Coles and Woolworths who have stated they have no plans to open any other outlets in Katherine.

A new shopping centre, and supermarket, has topped the list from residents asked to comment on plans to grow Katherine East.

The identity of the Melbourne investor has not been disclosed.

The off market sale was conducted by Ben Parkinson and Rick Silberman of Savills on behalf of Charter Hall.

"The centre enjoys an excellent market share within an expansive 500 kilometre main trade area in the Northern Territory," Mr. Parkinson said.

"Aside from the Woolworths in Katherine, the closest full line supermarket is in Darwin, 316 kilometres away."

The 7159 square metre shopping centre's "local market and long term employment base underpins the success of Katherine Central".

"The total retail spending market generated by the overall trade area population is estimated to be around $212 million," Mr Silberman said.

"This amount is expected to increase on average by 4.2% per year, reaching around $346 million for the overall trade area, including $268 million in the Primary Sector and immediately surrounding Katherine," he concluded.

"With the Woolworths generating upper quartile turnover, the right amount of specialty shops and minimal competition, it's no wonder the purchaser saw value in the asset," Mr Parkinson said.

"As Katherine's only shopping centre, the property plays a vital role in supplying residents in surrounding rural areas with crucial access to retail goods.

"Proposed significant upgrades should provide further economic benefits to Katherine and local businesses.

"The sale is a significant economic win not only for Katherine, but for much of the Northern Territory, and investment in Katherine shows no signs of slowing down."

- Katherine Times is a tenant of the shopping centre.

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