Changes ahead for Terrace Central shopping centre

Terrace Central.
Terrace Central.

A major refurbishment could be on the cards for Terrace Central with new owners Panthera Property Group hinting that there are big changes ahead for the shopping centre.

The Examiner understands that Panthera, which bought the centre for $33.5 million in July 2017, is seeking to expand the centre’s food and retail offerings, events and experiences.

“The shopping centre’s central location, convenient parking and unlimited potential are what made it appealing to Panthera Property Group,” Panthera’s asset manager, John Davidson, said.

“We will continue to work on the offering until it meets what the community has come to expect from a retail experience.”

Panthera is working with existing centre tenants to come to an agreement on their future involvement.

Tracey Page-Pepper, who ran the Page One fashion boutique in the centre for 25 years, closed her doors on August 1. Unable to come to an agreement going forward, Ms Page-Pepper was asked to vacate.

In addition to Woolworths, the centre currently includes 24 retail spaces, including food outlets, a pharmacy and 3 ATMs.