IGA in the bag for Merrimac Shopping Village refurbishment

Katherine JimenezSeptember 24, 2013

A major refurbishment of the Merrimac Shopping Village on the Gold Coast has seen it secure blue-chip supermarket chain IGA as tenant to the suburban shopping centre. 

IGA operators Brian and Kathy Bicknell secured a 289 square metre retail outlet in the centre on a 5 x 5 x 5 year lease term. The net rental was about $212 per square metre per annum.

Ray White Commercial Robina’s Steve Jeffery negotiated the lease and has been appointed as exclusive leasing agent for the shopping village.

Mr Jeffery said the owners of the shopping village have invested in a major refurbishment of the shopping village and neighbourhood centre and that the market repositioning was paying off, citing the recent launch of the Bakery and Coffee shop in the centre.

The shopping village has a net lettable area of about 1,003 square metres in 11 shops.

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