1.22 hectares of prime ocean view land which once housed the Ocean Reef Shopping Centre on the corner of Marina Boulevard and Venturi Drive is facing an uncertain future.
Only Liquor Barons, a small family run business, remains trading in what has become a derelict ghost town.
An extensive upgrade was proposed by the Singaporean owners, to the run down shopping centre but the redevelopment failed to attract sufficient rental income to warrant proceeding.
Facing significant rental hikes, Farmer Jacks closed down in December 2017 and the Ocean Reef Pharmacy moved across the road.
A new Australian owner with big ideas put in a bid on the prime site but the loss of the supermarket headlease impacted on the deal, which oceanreefwa understands, has now fallen through.
Only Liquor Barons, a small family run business, remains trading in what has become a derelict ghost town.
An extensive upgrade was proposed by the Singaporean owners, to the run down shopping centre but the redevelopment failed to attract sufficient rental income to warrant proceeding.
Facing significant rental hikes, Farmer Jacks closed down in December 2017 and the Ocean Reef Pharmacy moved across the road.
A new Australian owner with big ideas put in a bid on the prime site but the loss of the supermarket headlease impacted on the deal, which oceanreefwa understands, has now fallen through.
The future of the Ocean Reef Shopping Centre
