New owners announce an exciting new era for Albany Creek Village. The centre is set to benefit from a multi-million dollar capital works and refurbishment reposition that will enhance its standing as the leading convenience and community shopping destination in Brisbane’s north-west.
The long-standing and well-established neighbourhood shopping centre which opened in 1988, resides in a locality incorporating a range of civic and community amenities, such as schools and other public facilities. The centre changed ownership late last year from Charter Hall with new owners Fortius Funds Management buying the asset for $55.8 million. The new owners are undertaking a significant re-leasing and refurbishment program to deliver an exciting new era for the property. Works have commenced and are expected for completion in November 2018.
Renaud Herington, Fortius Senior Asset Manager, said “the capital works program will deliver a clear and welcomed repositioning of Albany Creek Village.”
He said Fortius had consulted with the community and tenants prior to engaging architects and a team of consultants to bring to life the new vision for the much-loved and long-established shopping centre.
“This carefully planned refurbishment program is designed to reinvigorate Albany Creek Village and reaffirm its position as the trade area’s number one convenience shopping destination,” Herington said.
Major external works will include extensive improvements and architectural features added to the building’s external façade as well as landscaping upgrades and a new high-profile signage pylon positioned on Albany Creek Road. External works will involve significant new Centre facade treatment, external tenancy signage package, new lighting, flooring and landscaping works. The Centre will feature new pylon signage and entry signage to complement the new Albany Creek Village branding.
Major internal works will include upgrades to the property’s flooring, ceiling and lighting as well as the creation of new seating pods and extensive new internal landscaping and ambience works.
The Centre is anchored by a Coles Supermarket and includes more than 30 specialty retailers providing 500 plus on grade car spaces with approximately 100 covered by shade sails.
The repositioned Centre will target a high-quality range of best in class retail operators to join its thriving mix of national and specialty tenants, who offer a full range of convenient everyday needs and services. As part of this strategic leasing process, there will be remix of existing tenancies at Albany Creek Village.
As part of the repositioning, the Centre will be re-branded to the original name, Albany Creek Village, which reaffirms the community and convenience basis in which the Centre was founded (the property was most recently known as Albany Creek Square).
Brisbane-based architectural firm Hames Sharley is designing the new-look Centre, with Buildcorp undertaking the construction works.