Centreway Arcade: Angela and Sam Edwards reveal new strategy

Two Tasmanian sisters who bought out their legendary dad’s share in a historic shopping arcade have revealed a new direction for the precinct. Plus, a new tenant can finally be revealed.

Two Tasmanian sisters who bought out their legendary dad’s share in a historic shopping arcade have revealed a new direction for the precinct, as the Mercury can also reveal a new Middle Eastern food tenant has just signed a contract.

Launceston developer Angela Edwards revealed she and her sister Sam have purchased the 50 per cent share belonging to their father, Commercial Equity Group chief executive Tony Seymour, in Centreway Arcade, which was constructed back in 1952.

The arcade, which is also co-owned by Bishops Barristers & Solicitors trio Fenton Jones and Steve and Krystina Bishop, has struggled throughout Covid, Ms Edwards said.

Eatery Bao Time closed in March, Heartfelt Art vacated its premises in recent months, while The Kiosk is currently for sale.

At least an additional four ground-floor tenancies are currently available for lease.

However, in a shot in the arm for the arcade, the Mercury can reveal a new tenant, Joseph Yared, the man behind the Launceston Night Markets and food vans Lebanese Gourmet and Grill and House of Paella, is set to take over the Bao Time space.

Mr Yared will play to his strengths and serve Lebanese and paella from the new store, which he hopes to have open for business within the next fortnight.

Ms Edwards said she believed food and services were the future of Centreway Arcade, rather than retail, especially with the greater foot traffic which will be driven by the University of Tasmania’s relocation to Inveresk.

“More food and service industries is where I would have thought the CBD is going,” she said.

“I don’t know whether it’s online shopping or Covid (which is leading to retail’s decline).

“But the CBD is certainly a very different place to what it was 15 years ago.”

She said she wants to see Centreway Arcade a “bustling, busy” precinct.

To that end, she and Sam have recently repainted the interior and upgraded the interior lighting and skylights, they are renovating each tenancy as they become available to make them more “appealing”, and they are applying to the City of Launceston to replace the doors leading to the adjoining courtyards.

“More natural light is what the arcade is lacking in, we want to lighten and brighten to attract more tenants, then we can afford to make further investments to improve Centreway,” Ms Edwards said.