This property comprises a 6,250 sqm site which is located in close proximity to the intersection of 3 main arterial traffic routes. Two regional shopping malls, a major bus interchange, a public library and various other retail premises are located within some 200 - 300 metres of the property. The property enjoys 3 street frontages with a 4th street access being available through an adjoining residential site which Isthmus also owns.
The property is zoned “major centre” which allows for intensive development of up to 8 levels. Current demand for such an intensive development is judged to be marginal, accordingly Isthmus has decided to refurbish the existing improvements for the medium term. This will include the addition of new atrium entries, a new façade along the main frontage, new air conditioning, amenities and lighting. The property will then afford a high standard of mixed office and retail use. Combined with extensive basement and onsite parking the property is expected to enjoy good tenant demand for the next 15 years, after which a more intensive redevelopment will be re-evaluated.