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.