Pacific Fair’s $670m revamp set to make Broadbeach shopping centre a must-see destination
SHOPPERS will be lured back to ‘bricks and mortar’ retailers from online shopping when the $670 million transformation of Pacific Fair is complete, according to its owner AMP Capital.
Yesterday AMP Capital shopping centres managing director Bryan Hynes said the aim of the Broadbeach redevelopment, which would kick off on January 13, was to create a new destination that people around the world talked about.
“We want to restore this to be not just the best centre in Queensland, but the best in Australia,” he said.
“It will become an icon in this country when it is complete.”
Mr Hynes said just having shops was not enough to deliver customers to centres these days – they wanted to be entertained as well.
“Shopping is not enough anymore,” he said.
“They can shop from the comfort of their own homes these days, so you have to give them more reasons than that to head out.
“This centre will be one of a new generation of shopping precincts when it is complete.”
The finalised plans for Pacific Fair released by AMP Capital yesterday showed an upmarket and significantly expanded shopping area, which retains its outdoor focus and features several pool areas.
The new section will be integrated with the existing development thanks to a two-level mall that connects them.
To make it onto the list of the world’s best shopping centres the revamped Pacific Fair will have to top Sunway Pyramid in Malaysia, which has a giant pyramid and lion as part of its design, the giant Istanbul Cehavir Shopping and Entertainment Centre in Istanbul, which boasts a rollercoaster ride, and the Mid Valley Mega Mall in Malaysia, which has a convention centre and hotel attached.
Pacific Fair will measure almost 150,000sq m when it is complete after 46,500sq m of retail space and about 100 speciality stores are added.
Mr Hynes said a deal had been done this week with Westfield Design and Construction to build the development.
The project will be create 1600 construction jobs and when the expanded centre is open, an extra 950 retail staff will be needed.
The redevelopment of Pacific Fair was first talked about six years ago, but it was not until AMP Capital became the sole owner of the shopping centre last year that the project was given the green light.
YESTERDAY: A CONTRACT was signed this week paving the way for the three-year redevelopment of Pacific Fair shopping centre to start on January 13.
Today shopping centre owner AMP Capital announced the construction deal, which was done this week, and promised that the $670 million modern revamp would completely transform Pacific Fair.
Pacific Fair will grow in size by about 30 per cent to 150,000sq m, with about 100 new specialty stores added, along with expanded Coles, David Jones, Big W and Target stores.
An extra 1300 car parks will also be available at the centre.
AMP Capital shopping centres managing director Bryan Hynes said Pacific Fair would become one of the must-see shopping destinations not only in Australia, but throughout the world when the work was completed at the end of 2016.
“The Gold Coast is Australia’s number one tourism destination with more than 11.5 million visitors each year, so attracting tourists is a key focus for the centre,” he said.
“Pacific Fair will be a Gold Coast ‘must visit’ (site), with a five-star resort ambience and a unique indoor, outdoor environment reflecting the Queensland lifestyle.
” … This will appeal to tourists, however, it will also provide residents with a truly exceptional local destination for shopping, dining, leisure and entertainment.”
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