A new lease on life for Ballina shopping precinct
THE MYSTERY surrounding the future of the old Lincraft building in Ballina's Tamar Village has been solved.
Clarence Property has kicked-off stage one of a $1.5 million project to upgrade the centre, owned by Westlawn Property Trust, and have plans to transform some of the vacant spaces into more 'corporate feel' commercial tenancies to accompany the new and existing retail businesses.
The "modernised" refurbishments will include external upgrades to centre's front, new more accessible toilets, awning lighting to shop fronts, new pavements, signage, painting, landscaping and an undercover outdoor alfresco area.
The renovations have already resulted in increased leasing activity, with a number of existing tenants renewing their leases, terms agreed with another new tenant and Optimum Allied Health signing a long-term lease to relocate to the property.
The regional healthcare provider is expected to open the doors to its new 230sqm tenancy in the coming weeks.
Head of Clarence Property Simon Kennedy said works were on track and were going "better than expected".
"There was a lot of concern when Lincraft left over what would happen, so this is a great outcome for our tenants and their customers at the centre," Mr Kennedy said.
"To take something that's been around for so long and give it a fresh modern look feels great. Martin's Hot Bread is a success story on it's own and the chemist is very popular, but the rest of the centre is a bit tired so we're excited to make it sensational."
He said, at this stage the old Lincraft building could be turned into smaller tenancies such as a gym or an office, but the number of shops within the building would depend on how many tenants take up that space.
The works are expected to be completed by early to mid-next year.
The upgrades to Tamar Village form part of a larger $5 million program of refurbishment works that Clarence Property is undertaking across a number of properties in the Westlawn Property Trust portfolio, including Zone Underwood, Westlawn Building in Lismore, Tamar Village and Yamba Fair.
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