Shopping centre up for sale
LITTLE more than two years after opening the Fernvale Village Shopping Centre is up for sale.
The nearly three-hectare shopping centre was completed in April of 2009 costing $24 million dollars to construct.
Consisting of a Woolworths and a number of specialty stores, the Village quickly became a hub for the town.
However, it was put up for sale earlier this month with a sign placed on the Brisbane Hwy outside the Village as well as an advertising campaign by two international commercial property agents.
News of the sale came as a surprise to Somerset Region Business Association (SRBA) chairman Bob Whalley.
He said prior to talking to The Queensland Times he was unaware the centre was being sold.
However, SBRA secretary Mark Wells said he didn't think the sale said anything about the state of the local economy.
"It's a busy place, there are always people there," he said.
"I don't think it's owned locally.
Mr Wells business, Fernvale Mitre 10, is located opposite the Village.
"I personally don't have much to do with it apart from it being across the road from me, but I doubt its sale will change much."
The centre includes a Woolworths, a Reject Shop discount store, a newsagency and pharmacy and quickly became a hub of the Fernvale area.
The village is a major employer in Fernvale creating 100 with Woolworths alone employing 80 people.
It is now also the only grocery store in Fernvale after the Fernvale IGA closed a year after the Village opened.
The immense popularity of the Woolworths was seen as the cause for the long-running IGA's closure in April last year.
An agent for the sale would not disclose why the centre was being sold.
Expressions of interest in the sale of the Fernvale Village can be made until the end of next week through agents Savills or Colliers International.