Development News
Pacific Fair Redevelopment News!
Be sure to check this page regularly for updated information on Pacific Fair's planned redevelopment.
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Latest News
Redevelopment Update - 31 December 2008
It has been some time since an update was provided on the redevelopment plans for Pacific Fair. Much has happened in last four to five months, and we are eager to share our progress with you.
As previously announced, In April 2008 conditional approval was obtained for the Development Application lodged with Gold Coast City Council in August 2007. There are some conditions attached to the approval, and while these are fairly straightforward in order to show how these conditions would be met, it was necessary to advance planning beyond what was originally envisaged.
The result is several months of delay whilst these essential planning documents are prepared. The target date for finalising the revised plans is early 2009.
Accordingly the schedule of works has changed from that originally planned. The majority of 2009 will be taken up with what is known as enabling works, ahead of the major project. These enabling works allow the diversion of essential services around the proposed development zone, paving the way for the demolition to occur. The diversion of these services must be done in a manner that minimises the impact on the operating Centre and retailers and as such will take longer than originally forecast. Additionally, 2009 will see finalisation of the planning documentation and the overall look and feel of the Centre along with the mobilisation of the construction team.
The major demolition and construction part of the redevelopment project will take place from early 2010 and is forecast to be complete in approximately three years.
By now you would have heard that David Jones will be one of the new major anchors for the redeveloped centre. We are excited to have secured such a renowned Australian retailer and look forward to sharing with you the names of other new major anchor tenants when these are confirmed.
For further information on the planned redevelopment of Pacific Fair Shopping Centre, contact us at pacificfair@ampcapital.com
