NEW MEDICAL CENTRE TOP OF SHOPPING LIST
The once-neglected Ashmore City shopping centre is in the midst of a $3m transformation, which will see a number of prime retail sites focused around new health facilities
A LONG-awaited $3 million upgrade of one of the Gold Coast’s oldest shopping centres is nearing completion, with exterior works all but finished.
Angelo Efstathis, managing director of centre manager First Asset Management, said the Ashmore City refurbishment
included a new facade, parent room, improved customer amenities and an updated mall area.
“Work is almost completed on the exterior – it’s only a matter of weeks before the interior upgrades are completed – and with the medical centre now fitting out, this has galvanised a number of new tenancies for the centre,” he said.
In the first step of the centre’s planned transformation, existing tenant Ashmore City Medical Centre is relocating to 313sq m of space within the main shopping centre building.
The medical centre currently occupies a freestanding building outside of the centre’s main building. It is moving into the tenancy formerly occupied by Chempro.
Ashmore City Medical Centre has taken a 10-year lease on the space, bringing it closer to other medical tenants – including Ashmore Optical and Chempro, which has relocated within the centre.
The medical centre has planned a $350,000 fit-out for the new premises, while a $750,000 refurbishment by ANZ Bank is also in the pipeline.
“There’s no denying that Ashmore City had been neglected for some time, but the new owners have committed to make a significant investment in the centre and position it for future growth,” Mr Efstathis said.
“We have taken a strategic approach to realign tenancies in order to increase internal foot traffic and create a number of prime retail sites in and around the new medical centre and the ANZ upgrade.
“Our focus is to create a suite of allied health and medical tenants within the centre, supported by a variety of services such as a travel agent, massage and beauty outlet, a hairdresser, fruit shop and possibly even a gym.”
Discussions have been under way to secure the right tenants during the refurbishment which has been under way for the past six months.
Ashmore City, located on the corner of Southport-Nerang and Currumburra roads, was developed in the late 1980s to service the Gold Coast’s expanding western corridor.
It has a net lettable area of 8819sq m and parking for 597 cars and its prime location has helped it maintain a valued core of anchor tenants. Ashmore City is anchored by Drakes Supermarket, Chempro, Stacks Variety, Liquorland and Australia Post.