$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

1700 BRISBANE APARTMENTS NOW MANAGED BY FORTUNE 500 COMPANY JLL

MULTINATIONAL and Fortune 500 company JLL (NYSE: JLL) has expanded its Australian dominance in the property managemen...

HARVEY NORMAN HITS OUT AT 'FALSE NEWS' OF ASIC INVESTIGATION

RETAIL giant Harvey Norman (ASX: HVN) has vehemently rejected reports its accounts are under investigation by ASIC, s...

RARE GOOD NEWS FOR SLATER AND GORDON AS ASIC CLOSES INVESTIGATION

ASIC has cleared Slater and Gordon of deliberately falsifying its accounts after a three-month investigation.

It s...

Q & A WITH FACEBOOK GURU ANDY MCKEON AS HE JOINS AUSTRALIAN SOFTWARE COMPANY LIVETILES

HE was creative director at Apple under the legendary Steve Jobs, and is now a senior Facebook executive. In his n...

Related News

RAY OF HOPE FOR SLATER AND GORDON AS LENDERS STEP IN

EMBATTLED law firm Slater and Gordon (ASX: SGH) has announced to the ASX that it has launched confidential discussion...

SPROUTX PROVIDES THE SEED FOR AGTECH STARTUPS

AGTECH innovation fund SproutX has opened applications for its first accelerator round, backed by $10 million from...

GAS PRICES MAY FORCE BRICKWORKS TO TAKE MANUFACTURING OVERSEAS

BRICKWORKS Limited (ASX:BKW) chairman Robert Millner says soaring energy prices may force the company to turn to offs...

CHINA CONTINUES TO COLLECT AUSSIE PROPERTY ASSETS

CHINESE coin continues to dominate Australia's offshore real estate investment market, accounting for almost h...

EVENTS COMING UP

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter