In November 2014 QIC broke ground on the $500 million redevelopment of their Grand Central Shopping Centre in the Toowoomba CBD, which will double its size to approximately 90,000 square metres. The redevelopment is scheduled to be completed in late 2016 and will introduce new discount department stores, a new supermarket offer, and approximately 160 additional specialty retailers to the Centre, creating around 1,000 ongoing local retail jobs.
“The Toowoomba CBD serves the retail needs of a large and growing catchment area. Despite this, the Toowoomba region loses approximately $800 million per year of local retail spending through escape expenditure to Brisbane, the Sunshine Coast and the Gold Coast. The creation of a world-class Centre with quality retailing, contemporary al fresco dining and food experiences, as well as an outstanding lifestyle offer, is the next logical step in the evolution of Grand Central to meet the needs of this thriving region,” Mr Steven Leigh, Managing Director of QIC Global Real Estate, said.
QIC has been working closely with the Toowoomba Regional Council over many years to develop a shared vision for Grand Central so it becomes a landmark destination for the region – incorporating a fusion of fashion, authentic food experiences, culture and design.
“As a result of our responsible planning and work with Council the Grand Central development will make a significant and sustained contribution to the revitalisation of Toowoomba’s CBD – a key objective of the Toowoomba Regional Council’s City Centre Master Plan,” Mr Leigh said.