Retail confidence continues to rise in Emerald
September 23, 2016
In another significant boost to the Emerald retail market, Coles supermarket has committed to The Plaza shopping centre for 10 more years.
The Coles lease extension at The Plaza follows closely on the heels of Woolworths committing to a new 20-year lease at The Village shopping centre. Both The Plaza and The Village shopping centres in Emerald are owned by Sentinel Property Group. Sentinel managing director Warren Ebert said the Coles supermarket lease extension at The Plaza was more great news for Emerald. “It is good news for local businesses and good news for the Emerald community,” Mr Ebert said. “It highlights that there has never been a better time to invest in Emerald. These long-term lease commitments by national supermarket chains demonstrate their strong confidence in the Emerald retail market.”
Mr Ebert said Sentinel was committed to improvement at both The Plaza and The Village shopping centres, which the company acquired in December 2014. This has included providing free wi-fi access for shoppers at both properties. In addition to the major supermarket lease extensions, Sentinel also continues to attract new retailers to its Emerald centres. The latest of these is the Thirsty Camel Bottleshop which has secured a new tenancy at The Village on a two-year lease. Annual painting maintenance of both centres is underway, with upgrades planned to external facades and structures, and new Val Morgan Screens are being installed for centre advertising.
Mr Ebert said Sentinel built its success on being a proactive, hands-on property manager and its local retail management team in Emerald is focussed on continual centre improvements for the benefit of retailers and the local community. He said Sentinel had a lot of confidence in the future growth prospects of Emerald and the wider Central Queensland region, due to its diversified local economy fuelled by agriculture, resources and infrastructure projects.Download the Article