$15 MILLION AUSTRALIA FAIR UPGRADE COULD LEAD TO FULL OVERHAUL

Written on the 28 August 2014 by Nick Nichols

$15 MILLION AUSTRALIA FAIR UPGRADE COULD LEAD TO FULL OVERHAUL

AGEING Southport shopping centre Australia Fair is poised for a major makeover, possibly as early as next year, but the property owner is first planning to spend $15 million on a makeover of the western wing to capitalise on the proposed new Chinatown precinct.

YFG Shopping Centres, which has owned Australia Fair for 13 years, plans to rejuvenate Australia Fair West, the original core of the Australia Fair complex, into a new dining precinct that will be home to what it describes as an “eclectic mix of retailers and dining options”.

The new-look western wing, to be renamed Australia Fair Metro, will incorporate more public open space designed to create a “relaxed coastal atmosphere”.

Australia Fair centre manager Malcolm Miller says work is due to start in November, and he says the “buoyancy” surrounding Southport could give rise to an overhaul of the remainder or Australia Fair soon.

“The light rail and the work that’s been done in Chinatown has given the owners the confidence to go ahead with this (development).

“We’ve got its big sister over the other side and hopefully it will give us confidence to perhaps start looking at doing things over there as well in the near future.”

Southport councillor Dawn Crichlow indicated that plans are already in place for a complete overhaul of Australia Fair, but further details were not disclosed.

Crichlow says the timing is right for the first stage of the development, which will be completed by April.

The work goes to tender in September in what is the first major refurbishment of Australia Fair West centre since it was built in the 1980s.

“We’ve been an integral part of the Southport region for many years,” says Miller.

“It’s a vibrant area, and this project will enhance it and add greater choice for both locals and visitors.

“We want to create a dining precinct with an eclectic mix of restaurants and shops that complement the work that the council has done in Chinatown.”

Miller says YFG Shopping Centres has undertaken extensive research to determine the best tenancy mix for the new development, and he is confident the leasing campaign will produce a strong response.

He says the light rail has brought more foot traffic through Southport.

“We’ve noticed a buoyancy around the place, which has been a long time coming."

Mayor Tom Tate says the refurbishment is another sign of confidence in the Gold Coast and a boost for the city’s jobs market.

“With this commitment from Australia Fair we will create a world-class Chinatown and reinforce Southport as a key business, dining and retail hub.

“It will enhance and make it more of a complete precinct. The timing is right and we are pushing ahead well with Chinatown. The hard work is done, the infrastructure is completed and it should go up relatively quickly.”


Author: Nick Nichols

Latest News

COCHLEAR R&D INVESTMENT DRIVES NEW PRODUCTS AND BOOSTS PROFIT AND REVENUE

COCHLEAR (ASX: COH) has boosted its 2017 full year net profit by 18 percent to $223.6 million and has forecast furthe...

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

TREASURY WINES UNCORKS SWEET $269M PROFIT DESPITE INVENTORY WOES

REVEALING the fruits of its past year of labour, Treasury Wine Estates (ASX: TWE) has posted a 55 per cent increas...

TATTS GROUP POSTS PROFIT AND REVENUE DROP ON FEWER JACKPOTS AND BAD WEATHER FOR RACING

TATTS Group (ASX: TTS) has posted a full year net profit loss of 5.7 percent and a revenue decline of 8.4 per cent as...

Related News

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

AS THE Australian population continues to grow, analysts are predicting what the country is likely to look like wi...

SEVEN WEST REPORTS MASSIVE LOSS AND CUTS CEO TIM WORNER'S PAY PACKET BY $450K

SEVEN West Media (ASX: SWM) has posted a full-year loss of $744.3 million and cut CEO Tim Worner's pay packet by ...

HOW MAKING MISTAKES AND PASSION SCORED WEIGHT LOSS PARTNERS A DEAL WITH SHARK TANK'S JANINE ALLIS

THEY partnered up to provide a scientific and targeted approach to dieting, and Kate Save and Geoff Draper cut Sha...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter