Shopping centre owners spend $5.5m on nearby houses
BARE BLOCKS of dirt surround the bottem end of Allenstown Square as 16 properties have been removed and one demolished.
There are two properties to be knocked down soon, with 123 Derby St and 6 Grant St approved for demolition by Rockhampton Regional Council.
The approvals were granted on July 25, 2019. Council has confirmed a building approval is effective for 12 months from the decision notice date.
The company that owns Allenstown Square, Charter Hall, began buying up properties in early 2016 with some sales as late as April 2019.
The company has spent an estimated $5.495 million snapping up the 18 properties.
One property directly neighbouring the centre, 20 Grant St, has not been sold.
All five houses down from the property have now been demolished.
Busby Demolitions and Asbestos House Removals were awarded the contract for the works.
Four of the houses removed appear on the Busby website for sale.
At the time it could not be revealed what the development would include but it was “expected to provide a more enjoyable and convenient shopping experience”.
Allenstown Square was granted approval in 2011 for a $16 million extension which closed off part of Canning St.
This reportedly took five years to gain planning approval from council.
Charter Hall was contacted for comment early in the week and advised they had no further comment to share.