Buranda Village $750m project delayed, shop owners in limbo

Shop owners at an inner-south shopping centre are still unsure of their future two years after Council greenlit a $750 million urban renewal project.

Buranda Village traders are still facing uncertainty two years after council greenlit a major urban renewal project at the site (inset).

A multi-million redevelopment planned for a busy southside shopping centre has been delayed, for an unknown period, leaving traders uncertain about their future.

Owners of the Buranda Village site, opposite Princess Alexandra Hospital in Woolloongabba, were given the green light by Brisbane City Council in December, 2022 to transform it into a $750 million mixed-use precinct.

The plan, drafted by real estate investment trust company Vicinity Centres, included more than 620 apartments across four buildings, up to 50,000 sqm of office space and 8200 sqm of open-air retail area.

Construction was originally slated to begin earlier this year, according to a media statement released by the company in February, 2023.

But Buranda Village traders said they had been told the project was postponed, with no exact date given.

Buranda Village will be demolished for a major urban renewal project.

The site owners said they were not in a position to confirm details at this stage but were moving closer to finalising plans.

Japanese grocery outlet Fuji Mart, which has been at the centre for 10 years, said they were notified of the redevelopment by centre managers two years ago.

Fuji Mart manager Aya Fujii said they were now deciding whether to move out before their current lease ended in mid-2025.

“We are working (on looking) for another place, but we haven’t decided yet,” she said.

Artist's impression of the proposed new development.

Next door at Bargain Mania, a variety store run by Marmik Dholariya at the shopping centre for more than 25 years, there also was no clarity on the future.

“On paper, this is the last year for us,” he said.

“It (their lease) may be extended or may not be extended. We don’t know honestly.

“We’re planning to move somewhere, so we’re looking for (a new space) but we haven’t finalised the place.”

A Commonwealth Bank branch and Japanese restaurant Sushi Doll recently closed, which Mr Dholariya said was not a good look.

Artist’s impression of the propsed revamp at Buranda Village. Picture: Supplied.

“Honestly, it’s really not a good thing for anyone because we have been here for 26 years next to a sushi (restaurant). They just closed a couple of weeks ago,” he said.

Mitty Lin, owner of gift and stationery shop News Extra, said he was confident construction would not start soon.

“We heard this news three to five years before. They’ve kept on delaying, delaying and delaying,” Mr Lin said.

“My previous rental contract (lease) expires in October. When we did the renewal, they said they didn’t have a date.”

According to the Vicinity Centres website, leases for existing retailers will expire in the 2027 financial year at the latest.