YOU would be hard pressed to find an Ascot local who doesn’t know the landmark IGA-anchored neighbourhood shopping centre on the corner of Racecourse Road and Kent Street.
The historic 3,126sqm site is being offered to savvy developers and investors in an expressions of interest campaign managed by Ray White Commercial Gold Coast’s John Highman.
Mr Highman said that the building has been part of the blue-chip Ascot / Clayfield / Hamilton landscape since it was originally purchased by the Ledingham Pharmacy group in the late 1960s.
“Prior to the 1960s, this building was home to the Arcadia Theatre and the later Ascot Theatre, which some locals would still have fond memories of,” Mr Highman said.
The venue served the community in a number of ways, providing live performances, radio broadcasts, films and musical comedies.
“Around 1970, the theatre was redeveloped by the current owners into a neighbourhood supermarket, which has been held by the same family for over 40 years,” Mr Highman said.
Today, the tenants include a chemist, bottle shop, barber and the locally-known Leo’s IGA.
The Racecourse Road property is located in the District Centre Zone and hence will appeal to both investors and developers.
“We expect the campaign to be a great success, with interest already forming from both local and interstate buyers,” Mr Highman said.
The expressions of interest campaign closes on Friday 10 September.
Commercial Sales and Leasing
Ray White Commercial Gold Coast
0417 221 108
Ray White Group
0448 841 606