Herbert Smith Freehills has advised QIC Limited on the redevelopment of the Grand Central Shopping Centre in Toowoomba, Queensland.
QIC worked closely with the Toowoomba Regional Council to deliver a visionary project for Toowoomba, redefining the boundaries of the retail shopping heart of Toowoomba and creating a new and contemporary destination for the Toowoomba community. By doubling the Centre and adding approx. 180 specialty retailers, QIC has invested approximately $500 million into the local economy with an estimated 1500 jobs during construction and an additional 1000 retail and hospitality jobs on completion.
Linking the Grand Central Shopping Centre to the retail heart of Toowoomba, the retail bridge traverses two roads, the existing South Rail Corridor, the West Creek Corridor and local government Reserve land, while maintaining the continued operation of road and rail infrastructure. The development demanded that the Herbert Smith Freehills team create new and innovative structures around land ownership and usage.
The result was an abundance of 'firsts', including being the first occasion on which freehold title has been granted above road in Queensland. A large volume of separate and complex agreements were reached with various stakeholders and landholders, among them the Toowoomba Regional Council, Ergon Limited, Queensland Rail and the State Government.
On 15 September 2016, Stage 1 of the new 'Grand Central Shopping Centre' opened, with completion expected in early to mid-2017.
The Herbert Smith Freehills team is led by Kerry Heilbronn, supported by Margaret Mertens, Nicole Campbell and Matthew Soden-Taylor. While development commenced in 2014, the Herbert Smith Freehills team have worked closely with QIC Limited for almost 10 years, helping to transform a dynamic vision into reality.
Herbert Smith Freehills partner Kerry Heilbronn said, "This project is at the cutting edge for retail centres, and demanded extraordinary innovation and persistence. The Herbert Smith Freehills team is delighted to be involved with QIC in making it a reality."
About Herbert Smith Freehills
Operating from over 26 offices across Asia Pacific, EMEA and North America, Herbert Smith Freehills is at the heart of the new global business landscape providing premium quality, full-service legal advice. We provide many of the world’s most important organisations with access to market-leading dispute resolution, projects and transactional legal advice, combined with expertise in a number of global industry sectors, including energy, natural resources, infrastructure, technology and financial services. www.herbertsmithfreehills.com
Follow us on Twitter @HSFlegal