Re-development for Capri Commercial Centre

Written on the 5 June 2009

A CONSTRUCTION start is imminent on the Isle of Capri Commercial Centre following soil contamination tests on a site formerly occupied by Isle of Capri Auto.

While a developer is yet to be announced, Gold Coast Business News understands that a large scale demolition project will make way for a market square and commercial holding with underground car parks and a range of specialty stores.

The prime 2888 sqm site, backing onto the Isle of Capri canal, was bought from the Bruce Small family trust in 2007 for $22.4 million by Capri Enterprises – an entity associated with the family of Sydney private equity player Simon Harvey. Property managers Ray White Commercial could not confirm plans, other than to say there were a number of factors to be considered prior to development. More than 22 leases have expired since the new ownership.

Ray White commercial property manager Trish Spaull confirmed that all long leases will be honoured.

Businesses include Café Capri, an IGA Supermarket, post office, a bottle shop, TAB and a marine boat hire company.

The popular Bento Box sushi bar will close its doors at the end of this month after deciding not to renew its lease.


Latest News

AUSTRALIA READY TO DISRUPT GLOBAL CARBON FIBRE MANUFACTURING

AUSTRALIA for the first time has the capacity to produce carbon fibre from scratch and at scale, following the launch...

HONG KONG FUND INVESTS $212.8 MILLION IN G8 EDUCATION

G8 EDUCATION (ASX: GEM) has secured $212.8 million from Hong Kong-based CFCG Investment Partners to pay down debt and...

MERGER DELIVERS THE FINANCIAL GOODS FOR TERRY WHITE

TERRY White Group has posted a solid half-year net profit of $1.3 million amid a period of major transformation fo...

BLUE SKY APPOINTS TWO NEW INDEPENDENT DIRECTORS

BLUE Sky Alternative Investments (ASX: BLA) has appointed two new independent, non-executive directors to its board: ...

Related News

WHY EMPLOYEE-OWNED COMPANIES ARE BEATING ASX200 SHARE PRICES

EMPLOYEE-owned companies command a higher share price than their publicly listed peers, reaping a 17 per cent prem...

RISE OF THE MACHINES HAS WORKERS SWEATING

UP TO 3.8 million Australian workers are fearful their job may soon be terminated by a robot, a new survey has shown....

LESS TALK, MORE SMALL BUSINESS ACTION IN 2017

THE future growth and prosperity of Australian SMEs could be undermined if governments lose sight of the sector...

TEST DRIVE A POST GRAD AT BOND

THERE'S only one way to really move your career into the fast lane, says Bond University, and 'test driving...

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter