SEVEN ASHMORE SHOPS FOR SALE
ONE of the major owners of popular retail centre Ashmore Plaza is cutting ties with a fully-leased property after decades of ownership.
Chi May Pty Ltd and Gasine Pty Ltd, linked to Paradise Point residents Wen-Chi Yeh and Nien Chin Tu, has held lot one at 160 Cotlew St since 1996.
It bought 16 tenancies across multiple lots in the Woolworths-anchored centre for $2.214 million.
Lot one has seven tenancies comprised of a gift/general store, clothing retailer, jeweller, seafood takeaway, loan office, Asian grocery store, and barber.
They have a net lettable area of 308.45sq m and return net annual income of $125,180 to the owners.
Marketing agent Lian Lee, of Colliers International, said the property has a prime location near the intersection of Cotlew St and Currumburra Rd
– both major traffic thoroughfares.
Ms Lee said Ashmore Plaza was well-patronised, and had been a popular place to shop for nearly four decades.
“Ashmore is in a highgrowth location dominated by young families and surrounded by a wide range of community facilities,” she said.
An auction for the Plaza property will be held at 11am on May 15 at the Colliers office in Surfers Paradise.
Ashmore Plaza was developed in stages, starting in 1979, by John Jenkins.
It has more than 50 shops and 500 parks.