Some of the embattled shop owners of the flood-ravaged Toombul Shopping Centre will receive a further cash boost after Mirvac announced it will double their payments for eligible small businesses.
Mirvac chief executive Susan Lloyd-Hurwitz said that retailers with an annual turnover of less than $50 million a year will get another three months’ worth of rent payments on top of the three months’ rent payments already promised in June 2022.
Ms Lloyd-Hurwitz said that they have been meeting with these retailers, who communicated their challenging experiences after the February floods that shut down the Toombul Shopping Centre permanently. Mirvac’s decision to terminate the leases placed many of the retailers in debt.
The company determined that it was no longer practical to reinstate the site given its risks of immense flooding. Ms Lloyd-Hurwitz said that the flood caused significant damage to their electricity, electricity, fire and air-conditioning systems, lifts and escalators. Mould has also impacted the shopping centre, which was declared hazardous for people’s health.
In June, Cr Adam Allan said that a decision was reached to demolish the existing shopping centre and construct a new one.
“The site is zoned Major Centre zoning under the Brisbane City Plan 2014. This type of zoning provides for a wide range of uses including retail, commercial, residential, entertainment, government, residential care, retirement, and community uses to name some,” Cr Adam sad.
“While Mirvac are only in the early stages of their planning on the future of the site the uses above provide a high level guide of some potential uses.
“There will be some outcomes from the site that Brisbane City Council will be keen to see delivered or retained such as a bus interchange, public space, better connectivity, improved flood resilience, a better interface to Kedron Brook etc
“There will be many discussions between Council’s Development Services team and Mirvac over coming months as their plans for the site are formulated.”