History
The Capalaba Central Shopping Centre was opened in 1994 after being developed by the Leda Property Group. They subsequently sold the center to MPEC Australia for $77.5 million, who then invested an additional $15 million expanding the property. In 1997, Shin Yen Pty Ltd, a Taiwanese investment company, entered into negotiations with MPEC to purchase the centre, reportedly offering $82.5 million. Negotiations broke down, but in February 1998 MPEC were forced to sell off most of their Australian assets. Shin Yen were then able to purchase the property for $73.3 million. However, Shin Yen only retained the centre until 1999, when it was sold once more – this time for a sum of $85 million. Capalaba Central is currently owned by the Dexus Property Group.
During 2008, the Capalaba Central Shopping Centre underwent a $50 million redevelopment. The redevelopment added another undercover carparking area as well as the space for Harvey Norman and the relocation of the Cinema entrance.
Read more about this topic: Capalaba Central Shopping Centre
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