Ashmore City Shopping Centre is undergoing a $2.5 million refurbishment ahead of a major relaunch of the property later this year to cement its position as the retail heart of the suburb.
It will be the biggest investment in the centre in more than a decade following an extensive review of the asset by its new owners.
Experienced Gold Coast builder Alder Constructions has been awarded the contract for the upgrade which will involve a complete exterior facelift, as well as improved amenities including a new parents’ room and upgraded accessible amenities for shoppers.
Ashmore City will also be given a new exterior facade and fresh signage, as well as internal and exterior tiling and new ceiling nodes.
Construction has already started and is expected to be completed well ahead of Christmas trading.
Ashmore City has 40 tenancies, anchored by Drakes Supermarket, Chempro, Stacks Variety, Liquorland and Australia Post.
Over the past 30 years, it has also established itself as the financial hub of Ashmore with major banks ANZ, Commonwealth Bank, Westpac, NAB and Bank of Queensland calling Ashmore City home.
Angelo Efstathis, the managing director of centre manager First Asset Management, says the plans for the refurbishment have been in train for more than 12 months.
“This represents one of the most significant investments in the property for some time,” he said.
“It’s part of a long-term strategy to enhance the shopper experience in what has become a very competitive retail environment.
“Ashmore City remains one of the best located centres in the area, and this upgrade will enhance the convenience shopping experience.”
Alder Constructions general manager Dean Cheffers said the work, which began April 1, will take 26 weeks to complete.
“We anticipate minimal disruption to shoppers and staff for the duration of the project,” he said.
“Our team is working closely with centre management to ensure a seamless construction phase.”
Ashmore City, located on the corner of Southport-Nerang Road and Currumburra Road, was developed in the late 1980s to service the Gold Coast’s expanding western corridor.
It has a net lettable area of 8,819sqm and parking for 597 cars and its prime location has helped it maintain a valued core of anchor tenants.