The owners of the Logan Hyperdome have purchased Marsden Park Shopping Centre – retail precinct 5 minutes drive from Meadowbrook Grove – and will triple its size creating 250 jobs.
QIC Managing Director of Global Real Estate Steven Leigh said the proposed $60 million development would see the centre increase in size from 8217sq m to in excess of 23,000sq m.
He said while QIC was still in early stages of planning the final retail mix, the development would incorporate an additional major tenancy, five mini-major tenancies, around 35 specialty stores and 527 additional car spaces.
“Marsden Park is a strong performing, well established neighbourhood shopping centre,” Mr Leigh said.
He said QIC’s acquisition of the centre in August last year, had further cemented QIC’s presence as a strong investor in the Logan City area. Logan City Council Graham Able (Div 5) described the development as biggest shot in the arm for the area in over 30 years.
“This is great news,” Cr Able said.
He said residents had been waiting for something like this development for years.
Governance and Finance Committee Chairman Councillor Luke Smith (Div 6) said the retail sector was the biggest employer in Logan.
He said council had spent the last two years working in closely with QIC on development opportunities.
“This purchase comes from a level of confidence that has built up over that time.”
Mr Leigh said the existing centre would be refurbished to integrate it with the design of the proposed expansion. He said work would hopefully begin next financial year.