Mirvac terminates leases at Toombul Shopping Centre

Retailers reeling after Mirvac announced flood-stricken Toombul Shopping Centre would be permanently shut have backed the decision, saying it was the “right call”.

The clean-up continues at Toombul Shopping Centre which has been closed due to major flood damage and likely to remain closed for six months. Picture Lachie Millard

Mirvac will permanently close the flood-stricken Toombul Shopping Centre saying it was too severely damaged to repair, a decision at least one retailer has backed as “the right call”.

The ASX-listed company told tenants that following careful consideration of the extent of the damage and the risk of future flooding, “it has been determined impractical and undesirable to reinstate the centre to how it was prior to the flooding damage.”

Toombul Shopping Centre has been permanently closed due to severe flood damage. Picture: Liam Kidston

“To provide our retailers with certainty we have taken the difficult decision to close Toombul shopping centre and terminate all leases,” it said in an email to tenants.

Bella Verity, co-owner of Toombul Dental, said she was “mentally prepared’’ for the decision and felt it was for the best.

She hoped to open a replacement surgery at Everton Park in mid-June.

She was also in the early stages of building a new dental facility at Nundah, very close to Toombul shopping centre.

Ms Verity, who is recovering from her third jaw surgery since the February flood, said it had been a traumatic period.

“But I felt like Mirvac has made the right decision. It’s not what some people want to hear, but it’s the responsible thing to do,’’ she said

With no plans for the site’s future, the community has been left wondering what will happen to the empty, flood-damaged property.

An email was sent to tenants informing them of the termination.

Owner of Fruits of Eden, Elenis Pippos, says she was one of the few fortunate survivors that will come out of this devastation afloat.

“We were one of the lucky retailers that were covered with flood insurance, but 95 per cent were not and have no choice but to take the loss,” Ms Pippos said.

“A lot of people lost their jobs because of all this. Having a lot of small businesses in there we were unable to just relocate our staff to other shops.”

TOOMBUL UPDATE, from Fruits of Eden and Eleni's Gourmet Deli: We have now recieved an official letter from Toombul...

Posted by Loving Nundah on Tuesday, May 17, 2022

The response on social media has been one of devastation and shock, with one person commenting “end of an era”.

Absolutely devastating. We travelled from Petrie often just to shop at Toombul. What a truly beautiful shopping centre. Terribly sad,” Sarah Brass said in response to the announcement.

Local state Labor MP Leanne Linard said she learnt of the closure via a shared post on Facebook.

“The news today has come as a shock to the businesses, thousands of workers out of a job and local community who have supported this centre over decades.

“I have spoken to the Small Business Commissioner to discuss how the retail and small business community can be best supported now that this decision has been made.

“I believe our community must be meaningfully consulted as to what comes next on the site.’’

Toombul Dental co-owner Bella Verity will move her business to Nundah. Picture: Liam Kidston

A Mirvac spokeswoman told The Courier-Mail they have undertaken extensive assessments to understand the full impact of the flood damage at Toombul shopping centre.

“As previously advised, there has been extensive damage to the centre across all major services, base building services and infrastructure,” she said.

“After taking into account the current and potential future impacts of flooding on the site, it is impractical and undesirable to reinstate the centre to how it was prior to the flooding damage.

“As a result, to provide certainty to our tenants, we have taken the difficult decision to close Toombul shopping centre. We are now assessing the future of the site recognising the importance of the continued provision of retail for this local community.

“We appreciate this a disappointing outcome for our retailers and customers who are very loyal to our centre, with many tenants operating from Toombul for many years.” a

The clean-up at flood ravaged Toombul Shopping Centre which will close permanently.

Last week The Courier-Mail reported Mirvac was running the numbers on the viability of reopening the centre, severely damaged during floods earlier this year.

One option would be to raze the 54-year-old centre to the ground and redevelop it as a more lucrative build to rent (BTR) residential precinct incorporating a smaller retail component. Toombul is close to rail and bus routes making it ideal for apartment living.

Antica homewares owner Tina Worland said everyone was relieved the uncertainty was over. “It would have been great to know this months ago but I guess (Mirvac) had to do their due diligence first,’’ she said. “This is great, everyone can now move forward. We’ve all been receiving the same (lease termination) email.’’

While Ms Worland was on a slightly different lease agreement, she had coincidentally just announced today on social media that she had reached an agreement with Market Central Shopping Centre in Lutwyche to open a pop-up homewares shop.

“They’re willing to give me a go. It looks great and is as big as what we had before,’’ she said. “We will open in two weeks and hopefully I can make it permanent.’’

Luisa Laurito, whose father started the business at Toombul Shopping Centre when it opened in 1967, relocated in March to Ascot with business partners John and Vince.

She said she was “a bit taken back by it all.”

“I’m still trying to get my head around it. There’s so much going on,” she said.

“We started in the Toombul Shopping Centre in 1967 and we’ve had it for 54 years and on the 10th of October it would have been 55 years.”

40+ PICS: Toombul Shopping Centre through the years