$4.5M Toorak Central Creates Opportunities
Major renovations work on the $4.5 million Toorak Central is expected to create more than 30 new job opportunities.
The complex will feature five studio rooms, two fully furnished one-bedroom apartments, five retail outlets and a restaurant.
Located at the corner of Amy and High Street in Toorak, renovation works has employed 20 new construction and contractor jobs.
The property is a project of Mount Sophia Group, a Hong Kong-based private investment group which holds several properties in Fiji under its portfolio.
Managing the development project on behalf of the company, development director Julianne Verma said the building was named Toorak Central because of its central location.
She said because of the location, amenities, and security of the complex, they are expecting to have local corporate and domestic long and short stayers.
“The building was built in 1950. I have been told many stories about growing up in the neighborhood in the 50’s, 60’s and 70’s,” Ms Verma said.
“Some very fond memories shared of the building that once housed the infamous boxer, Sunia Cama, and his restaurant,” she said. “Some wonderful people whom I have come to know, have reached out and shared their Toorak stories from the old days.”
She adds that despite the challenges of COVID-19, the new development shows positive investors confidence in Fiji.
“Not only has the Mount Sophia Group chosen to proceed with this investment, the founder, and managing director, Avi Raju, believes in Fiji’s future potential and growth. “This development has and will create jobs, economic opportunities in business and increased investor confidence.
“Lots of interest has been shown because of the limited number of spaces. We are working on putting together a complimentary tenant mix that will benefit the tenants’ businesses, the locality offerings and experiences plus a positive rate of return for the investor.”
Mrs Verma explains the renovation works include a comprehensive makeover from the roof to ground.
This includes the redoing of the roof and ceiling works to comply with relevant cyclone and catastrophe risks.
“There’s a complete overhaul of the facade which will be featuring aluminum and glass allowing a lot more natural light and modern exterior look.
“We gutted the entire space on level one which previously offered five residential flats. Now we have renovated it into newly designed two one-bedroom apartments, five studio and ultra-modern, industrial decor spaces for short and long-term stayers.
“The ground floor spaces remain configured as five retail and one restaurant although the renovation will see the spaces freshened up with a completely new look and tenant offerings like no other in the area.”
Toorak Central is expected to open in midSeptember this year.