Industry News Development

Bay Plaza’s redevelopment underway

Bay Plaza is gearing up for the next stage of development due to begin in early November

Stage one in the redevelopment of Yeppoon’s community shopping centre, Bay Plaza, is now complete. These works have seen Snap Fitness relocate outside the centre to a bigger footprint, Live Life Central Pharmacy has also relocated and expanded, and the new medical centre is in the final stage of fit-out due to open at the end of the month.

Snap Fitness is complete with a cutting edge fit-out and state-of-the-art equipment. Part of their national rebrand, it’s the first store to be rolled out in their new modern concept.

Owner, Justin Garvie, said the new site has seen a big uplift in business. “We’re thrilled with our new gym and love seeing new customers enjoy the facilities. I think the new centre will have a huge impact on the local community once it’s finished.” he said.

The Bay Plaza is owned by the RAM Essential Services Property Fund

The centre is gearing up for the next stage of development due to begin in early November, which will see major internal works and the establishment of the new food and beverage and entertainment wing. Upon completion there will be a total of 28 retailers within the centre.

The western wing, including anchor tenant Coles and CBA, will remain open and uninterrupted during these works, as well as other local operators including Keppel Bay Plaza News and Cap Coast Takeaway.

There has been a great response to leasing activity, creating a strong tenancy mix within the centre with limited tenancy opportunities still available.

Upon completion there will be a total of 28 retailers within the centre

Nick Kelly, head leasing agent from Handler Property, said: “We have seen great enquiry and now have a really exciting mix of tenants, which are all going to bring something unique to this centre. There remains a few leasing opportunities but we don’t anticipate this to last long.”

With stage 2 about to begin, parking and access will be available through the James Street entry. Bay Plaza encourages everyone to continue to shop at the centre throughout construction and support the local business.

The Bay Plaza is owned by the RAM Essential Services Property Fund. The Fund is managed by Australian owned wealth and asset manager Real Asset Management Group (RAM) and has a portfolio of 33 properties split almost 50/50 between essential retail and medical assets across five states and the Northern Territory. The Fund’s biggest tenants include private hospitals group Healthe Care and supermarkets Coles and Woolworths.

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