Facelift for ageing Arndale Centre month after it sells for $35m

An ageing shopping complex south of Brisbane is set for a multimillion-dollar makeover, a month after retail developers paid $35 million for the centre.

An artist’s impression of the renovated Arndale Centre with a new facade and entries.

AN ageing shopping complex south of Brisbane is set for a multimillion-dollar makeover, a month after retail developers paid $35 million for the centre.

The flagging Arndale Shopping Centre at Springwood, built in 1974, will get a $15 million overhaul expected to be finished this time next year.

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Coles will remain the main tenant at the centre after renovations are completed by next year.

The renovated centre will still include Coles supermarket as its main tenant but new owners Consolidated Properties Group and CVS Lane Capital Partners said they wanted to add more retailers to the mix.

Hutchinson Builders will complete the works, sprucing up the four mall entrances and the facade which is similar to when the centre was built 45 years ago.

CVS Lane Capital Partners chief executive Lee Centra said the centre’s best days were still in front of it.

The Arndale Centre from the air.

“We have learnt the performance of these neighbourhood centres can be attributed to three key factors – accessibility, convenience and variety,” he said.

“We’ll be making improvements in all of these areas. 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.”

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The 11,000 sqm centre has 35 specialty stores and the consortium is developing Wilsonton Shopping Centre in Toowoomba and Pavilions Palm Beach on the Gold Coast.

It was expected 200 jobs would be created during construction.

Springwood has been earmarked as the next large southside retail centre after the M1 and Gateway Merge upgrade nears completion and plans are under way to extend the southern busway to the front door of the Arndale Centre.