Prominent CBD business hub gets a makeover
IN A STEP towards revitalising the Lismore CBD, work to upgrade a prominent business hub has begun.
Clarence Property has kicked off a $1.5 million renovation project to upgrade the outside and entire top floor of the Westlawn building in Molesworth St.
The refurbishment will reposition the property as a modern and fresh office building in the heart of the city and will create a more inviting space for its current 13 tenants, future tenants and their customers.
Works include external painting, a large entry awning to the front of the property, glass balustrading to all external balconies and a new entry foyer.
Clarence Property's head of property, Simon Kennedy, said the upgrade was part of the company's commitment to the building and to Lismore.
"Lismore suffered in the floods and it's been slow with businesses getting back on their feet," he said.
"But this is the largest town in this region, there is lots of activity, there's a terrific hospital, TAFE and uni - it's a great town.
"Location wise alone, we are confident this upgrade will help to create more business activity in the future.
"As long-term property owners, we are delighted to invest in the property and use local trades, again promoting local activity."
Mr Kennedy said the refurbishment had already resulted in increased leasing activity, with five existing tenants renewing leases in the past 12 months, one tenant taking on additional area and three groups currently negotiating on vacant space within the property.
"We're really excited to be refurbishing the Westlawn building and enhancing the overall commercial offering for our tenants, their customers and the Lismore CBD," he said.
"Investing in the property and using local contractors to perform the works has an important compounding effect that contributes to a positive cycle of improvement and economic growth for the local community."
The exterior works are expected to be completed before Christmas.
The Westlawn building upgrade forms part of a larger $5 million program of refurbishment works Clarence Property is undertaking across a number of properties in the Westlawn Property Trust portfolio.
Clarence Property managing director Peter Fahey said the $5 million investment was aimed at improving amenity for existing tenants, attracting new tenants and adding value for investors.
He said the properties currently undergoing refurbishments included Zone Underwood, Westlawn Building in Lismore, Tamar Village Ballina and Yamba Fair.