Plans to transform an aging Eagleby Plaza into a modern shopping and dining hub have been announced.
But some of the centre’s current tenants, who have been given one month to vacate ahead of demolition works, are frustrated and nervous about losing their “livelihoods”.
The Eagleby Shopping Centre, anchored by supermarket Fresh and Save, was in January bought for about $20 million by development company OneFin, who own and developed Beenleigh’s River Road Tavern.
The sale settled last month, and now OneFin have unveiled plans for a $10 million renovation that will modernise the building and add a dedicated dining area, alfresco area, medical precinct, childcare centre, and new speciality tenants.
Multiple business owners said they first learned of the plans two weeks ago in a letter sent by OneFin’s lawyers, informing them their leases would be terminated on 31 October.
Some tenants said this was their first and only contact with their new landlord, despite efforts to reach out to the lawyers.
One business owner said they were devastated by the news of the lease termination, and would now have to close their business for good after investing “everything I have” into the store.
Another tenant said they would move all their product into storage until they found a new home. However, they were adamant they wouldn’t return to Eagleby Plaza.
“They’re ruthless… They haven’t even spoken to us personally,” another tenant of more than 15 years said.
“They are not communicating with us. They haven’t even come down and had the decency to say, ‘Hey, sorry about kicking you out’.”
OneFin co-founder Will Griffin said the majority of tenants were offered new positions in the centre once it reopens.
“To say that we’re turfing them out is not entirely correct,” he said.
“ All the leases that have been issued with [notices of lease termination] have demolition or relocation clauses in them.
“Obviously the rent increases with the higher-performing center, but the offer [to return] was made.”
Several tenants said they had not met with OneFin and had not received an offer to return.
Mr Griffin said construction would reposition the centre’s shops in a less “haphazard” way.
Renovations are expected to take up to eight months, Mr Griffin said, starting with the first lot or stores closest to Eagle Tavern, before moving in and finishing with a childcare centre.
“At one end we will have a health precinct, and on the other will be a food and beverage precinct,” Mr Griffin said.
“The Fresh and Save will stay, the chemist stays, the post office stays… and we’re going to add a childcare outside.”
Several stores, including the two front-facing takeaway chicken stores, the pawn shop, Chinese takeaway and the Liquor Legends bottleshop, will not be returning.
Mr Griffin said OneFine chose Eagleby to invest as it was the “most undervalued” real estate in south-east Queensland.
“You’ve got train, rail and bus connectivity, and you’re essentially halfway between Brisbane and the Gold Coast.
“As that urban sprawl has pushed north of the Gold Coast and south of Brisbane, Eagleby is the next one. But it has almost been forgotten.
“The price of housing there is so undervalued, but you’re surrounded by a river, you’ve got boat ramps, and you’ve got amenities.
“It has just not had the love and attention that it needs.”
