Pacific Fair Redevelopment Delayed Further
Tuesday, May 17th, 2011Despite announcing last October that a start date for redevelopment of the shopping centre was imminent, owner AMP Capital have admitted that the process is no further along. A spokeman for the company told the Gold Coast Bulletin
“At this stage, there is no definite start date for onsite construction at Pacific Fair as we continue with planning, design and a range of negotiations. As with many in property development, the global financial crisis did impact our plans for our shopping centre portfolio, and we spent this time preparing for Pacific Fair’s development as well as a number of others.”
It is believed that negotiations between Gold Coast City Council and AMP Capital surrounding infrastructure charges are one factor behind the delay.
