Plaza redevelopment off
TENANTS of Alstonville Plaza are breathing a deep sigh of relief, after being told plans to redevelop the plaza have been abandoned.
In March, some tenants discovered there were plans to extend the shopping centre, which is owned by a consortium of local business people.
The project would have seen some tenants forced to shut shop or move out.
However, Coles has since conducted a cost benefit analysis and, as a result, the project will not go ahead.
Managing agent LJ Hooker said about five tenants would have been directly affected if the plan had gone ahead and it would have done its best to help the tenants find another suitable retail space.
First National Wal Murray Real Estate principal Wilson Cregan said the shelving of the plan was very positive news for his and other plaza businesses because it brought certainty.
Mr Cregan said the close shave highlighted the shortage of retail spaces available in the Alstonville Wollongbar area.
"We are not a big commercial retail centre," he said.
"Ballina council proposes to keep the village at its current size.
"There are not a lot of other options."
He said that while Coles and Woolworths held a market share, there was also a need for small business.
Alstonville Health Food store owner Nardia Coote closed her business after she discovered there was no intention to renew her lease.
She made the discovery when she inquired with the managing agent about her lease because she was selling her business.
She said the news effectively killed the sale of her business.
The Northern Star contacted several other tenants, but none wanted to make on-the-record comments.
Coles did not respond to the Northern Star's request for a comment.