Its short-term future seems secure.
Rockworth Capital Partners, a Singapore-based real estate investment management firm, bought the Phoenix shopping centre for $76 million in early 2013, enticed by the growth of Port Coogee, the council’s revitalisation plans and potential development and expansion opportunities.
But following the takeover, there have been rumours that the centre could be closed down and demolished.
‘The concerns are not unexpected as we are a new operator,’ a spokesperson for the company said.
‘However, since acquiring the shopping centre in 2013 we have been trying to connect with the community so that we could better serve the needs of the residents.’
The spokesperson highlighted work with council and the fact the company was embarking at improvement works to the centre as measures to install some calm in nervous locals.
‘We constantly review our asset on an ongoing basis and we look forward to hearing constructive feedback from our tenants and the community on ideas to improve the centre,’ he said.