Consolidated Properties and CVS Lane Capital Partners have started the $15m refurbishment of the Arndale Shopping Centre in Springwood

The multimillion-dollar makeover of a 45-year-old shopping centre in Brisbane’s south will result in 200 new jobs during construction, with 35 specialty stores and a Coles supermarket locked in as part of the upgrade.

The refurbished face of the ASrndal; e Shopping Centre.

A NEW owners of a shopping centre south of Brisbane have launched a $15 million refurbishment of the property.

Consolidated Properties Group and CVS Lane Capital Partners have kicked off the upgrade

just weeks after the October acquisition of the Arndale Shopping Centre in Springwood for $35.5 million.

Hutchinson Builders, which are working on the makeover, will unveil the new look centre ahead of Christmas 2020.

Arndale, which has 11,000sq m of retail space, including 35 specialty stores anchored by Coles supermarket, will undergo a comprehensive aesthetic upgrade to improve the amenity.

This will include an upgrade to the four mall entries, a revitalisation of the existing facade, and upgrades to the internal mall and existing services within the centre.

An artist's impression of inside Arndale Shopping Centre in Springwood after the $15 million refurbishment.

Consolidated Properties Group chief executive Don O’Rorke said there has been “no time wasted” in getting started on the upgrade, which is expected to yield new national and independent retailers for the 45-year-old shopping precinct.

“We’re continuing our march in southeast Queensland and along the Eastern seaboard, identifying retail centres like Arndale which are ready for immediate improvement,” he said.

“We are completing similar redevelopment programs at Wilsonton Shopping Centre in Toowoomba and Pavilions Palm Beach on the Gold Coast, which are both nearing the finish line and have already seen an uplift in both tenancy performance and consumer traffic.

“Like our other centres, the improvements made to Arndale will result in new jobs, with about 200 positions to be created during construction and a substantial increase in ongoing employment opportunities to be generated.”

An artist's impression of inside Arndale Shopping Centre in Springwood after the $15 million refurbishment.

CVS Lane Capital Partners chief executive Lee Centra said Arndale Shopping Centre, which fronts the Pacific Motorway, has been a strong performing centre over many years, but its full potential will be realised following the whole-of-centre upgrade.

“We have learnt the performance of these neighbourhood centres can be attributed to three key factors — accessibility, convenience and variety. We’ll be making improvements in all of these areas,” he said.

“Arndale is already in a highly accessible location, minutes from the motorway and the enhancement of the mall entries will provide shoppers with greater visibility and a much better experience.

“Convenience and variety go hand-in-hand – people now want all of their shopping needs under one roof, and while Arndale has a great mix of tenants, we will be aiming to increase the variety of stores and services on offer by enticing new retailers as part of this renovation program.”