The new owners of Beenleigh Marketplace are promising to find ways to make sure the centre opens more quickly after heavy rain.
“The car park and undercroft were always designed to flood,” Mintus director of retail and residential Ben Stewart said.
“In the past flood waters have damaged essential infrastructure which has prevented the centre from opening for sometime after flooding.
“We are currently investigating ways to move this to enable the centre to open back up quickly after flood waters have receded.”
Mintus is a Sydney-based property management firm and bought the Beenleigh shopping centre about a month ago, adding to their portfolio of 12 retail outlets in Queensland and New South Wales.
The 13-year-old firm manages MKT Square at Deception Bay and Goodna Marketplace. Others are in Sydney and regional New South Wales.
“What sets us apart is we deliver on our promise by implementing innovative, sustainable and placemaking strategies that are adaptive and aimed at connecting people and businesses in the right space to inspire, collaborate and achieve,” promotional material says.
Mr Stewart said the company had been closely monitoring Beenleigh Marketplace’s progress over the past few years.
He said there was great potential with a focused management, strong retailer mix and improved marketing and community initiatives.
“The (Beenleigh) area has good growth prospects which should encourage further development,” he said.
“The train line, access to the M1 and distance to Brisbane and the Gold Coast all bode well for future development in the area over time.”
But changes are unlikely to come thick and fast.
“For now we are looking forward to getting to know our retailers and customers better and develop plans and strategies to better cater to their needs,” Mr Stewart said.
“At Mintus we always look to add value and improve our centre and we endeavour to do the same at Beenleigh Marketplace. Shopping centres are an evolving asset class that requires the owner to adapt and reinvest.”
He said the company had found people in Beenleigh to be passionate and proud.
“Beenleigh Marketplace has become the hub for many locals, businesses and a meeting point for friends and family,” he said.
“We hope to work closely with community groups and give back where we can. Â Beenleigh Marketplace is as much the communities centre as it is ours.”
Local commercial property agent Mark Osmond said the new ownership was positive for Beenleigh.
“It’s always good when investors outside the city see positive growth potential for both their individual asset and the region as a whole,” he said.
“If we look at our books, there are lots of opportunities for local business to be part of the resurgence of Beenleigh.
“We’ve got some great space on Manila St, for example, where someone can move straight into 222 square metres and gain some generous incentives as part of the deal.”
Mr Osmond said there was strong intent to ensure the CBD was a thriving office and retail centre which worked in collaboration with the popular shopping centres.
“It’s true that people of Beenleigh are passionate and parochial,” he said.
“That’s why most people are positive about the things that can happen in the Beenleigh heart.”
