Cash splash as battle for business heats up
REINVESTMENT has been an integral part of the Cairns shopping centre playbook in recent years as retail complexes modernise their product to keep up with and outrun their competitors.
DFO in Westcourt has just undergone a $10 million refurbishment with the creation of its DFOOD dining and entertainment precinct, set to feature a range of cafe and restaurant offerings as well as upgrades to entrances and facilities with 1250 carparking spaces.
Smithfield Shopping Centre’s new $29 million six-screen cinema complex and “casual dining precinct” was completed at the end of 2017, including Queensland’s largest movie screen north of Brisbane.
The cinema complex is able to accommodate about 1300 guests in total, with 374 seats at the flagship Vmas theatre alone.
Mount Sheridan Plaza in 2012 reopened its doors after undergoing a $65 million expansion that almost doubled the size of the centre.
It now caters for about 500 jobs in peak retail seasons and is anchored by its major tenants, Coles, Woolworths and Kmart.
The centre also made a significant investment in solar power in 2017 and reportedly has future expansion plans up its sleeve.
Over at Earlville, Stockland Cairns Shopping Centre is making moves to create a new offering for the city with a Sporting Globe franchise sports bar sitting alongside retail stores just near the food court.