Toombul in trouble? Toombul Upstairs looking barren as precinct celebrates first birthday
A trendy neon-lit food court that cost a cool $45 million to renovate is celebrating its first birthday this weekend, but pictures suggest it might not be the success management hoped for.
QLD Business
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Is Toombul’s $45 million food court in trouble?
The shopping centre’s Upstairs precinct, which celebrates its first birthday on Saturday, is attracting foot traffic despite a rough start to 2020, according to its owner Mirvac.
But pictures show the venue sitting largely empty, with several storefronts either closed or for lease.
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And QUT retail expert Dr Gary Mortimer has claimed Toombul Upstairs, which cost a cool $45 million to overhaul, is struggling to find tenants.
“It would appear disappointingly that the foot traffic hasn’t rebounded,” Dr Mortimer said.
“There’s clearly declining foot traffic in that area,” he said.
“I think despite Mirvac’s capital investment into refurbishing the centre, I think they’re still struggling to find viable tenants willing to take on leases.”
Dr Mortimer said he visited the precinct one evening this week, finding many eateries completely empty and one Italian restaurant with only two diners.
The Courier-Mail also paid a visit, finding several stores closed, some shopfronts empty and just a handful of patrons at eateries at Toombul Upstairs.
But a Mirvac spokeswoman has painted a rosier picture of the Upstairs precinct.
“The centre and dining precinct has been welcoming increasing numbers of locals back as the restrictions have been easing,” the spokeswoman said.
“Thanks to the addition of the new dining and entertainment precinct, Toombul Shopping Centre has seen year on year increases in traffic.”
She said operators pivoted their business models during COVID-19 lockdown toward food delivery and takeaway.
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