The $670 million renovation of Pacific Fair on the Gold Coast has taken out the state’s top property honour.
The AMP Capital shopping centre was named Queensland Development of the Year at the Property Council of Australia / Rider Levett Bucknall Innovation and Excellence QLD Awards overnight.
Property Council’s Queensland Executive Director, Chris Mountford, said Pacific Fair is more than just Queensland’s largest shopping centre.
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“AMP Capital’s sizeable investment has created a new destination for the Gold Coast – one that is attracting more international tourists and development to the region,” Mr Mountford adds.
Construction, which commenced in January 2014, added 50,000 sqm to the existing centre. Pacific Fair is now 155,000 sqm in size, making it the fourth largest shopping centre in Australia.
With around 420 stores, Pacific Fair has attracted Australia’s largest concentration of luxury retailers – including Givenchy, Gucci, Hermes, Louis Vuitton, Prada, Salvatore Ferragamo and Tiffany & Co.
“The judges were impressed with AMP Capital’s strategic approach to placemaking in the online era, with the centre designed to enhance social interaction,” said RLB’s Managing Director, David Stewart.
“More than 20 per cent of the centre’s floor space is now dedicated to food and entertainment, making it a true destination for both visitors and locals,” Mr Stewart says.
“The central outdoor area has undoubtedly set a new benchmark for public spaces within super regional shopping centres in Australia,” Mr Stewart adds.
The QLD Development of the Year award is part of the national 2018 Property Council of Australia / Rider Levett Bucknall Innovation and Excellence Awards program. RLB has partnered with the Property Council to present the awards program since its inception in 1982.
Pacific Fair is also competing in three categories at the national awards, which will be held in Sydney on Friday 11 May.