Sydney-based developer puts faith in Ipswich growth

An Ipswich shopping centre that dates back to the 1970s will undergo a dramatic transformation to take advantage of strong population growth.

New owner Sydney-based developer Mintus will modernise the Woolworths-anchored St Ives Shopping Centre in Goodna to take advantage of the continued population growth and revitalisation of Brisbane's western corridor.

Mintus director - retail and residential Ben Stewart said Goodna's potential was untapped.

"When we added St Ives Shopping Centre to our retail portfolio, we saw it as an opportunity to create something special in an area that will greatly appreciate a more convenient, accessible and modern Centre," he said.

"We believe the areas amenity and transport (rail and road) together with a refurbished centre will significantly benefit the local community and be a catalyst for further growth".

An artist's impression of the St Ives shopping centre in Goodna.
An artist's impression of the St Ives shopping centre in Goodna.

The refurbishment, designed by POWE Architects, will see the entire centre upgraded with a new facade, improved LED lighting, resurfaced car park and new toilets/amenities.

A new thoroughfare linking the front and rear car park and the introduction of a number of new retailers for both locals and visitors to enjoy is also included.

A complete re-work of the Queen St and Smith Rd buildings will significantly enhance the centre and create a uniform look across the entire complex as well.

The completed St Ives Shopping Centre will see over 500 car parks, multiple entry and exit points coupled with new signage which will make it safe and easy to come and go in every direction.

CBRE manager shopping centres Sam Morahan said interest to date has "been fantastic".

Three new major tenants - Anytime Fitness, Discounter Welcome Gifts and Goodna Family Medical Centre - have already secured new space.

Last year Mintus paid $30.45 million for St Ives Shopping Centre, plus six adjacent properties.

Built in the 1970s and renovated many times, the 38,200sq m neighbourhood mall on a 6.25ha site was sold by Kin Ming Eddy Tse and Shui On Tse, from Brisbane and Hong Kong. They paid $11.2 million for the asset in 1994.