A PROPOSED building development of new shops at Naracoorte’s Kincraig Plaza shopping centre has been put on hold indefinitely.
Perks Property Investments CEO Richard Hayman said: “The cost of building and the rents we will achieve, just isn’t cost effective.”
An expansion of the plaza carpark area, where the former convent building once stood, was completed late last year.
Building new shops - which was to be stage two of the major project - was put on hold after the carparks were completed and it became apparent to the plaza owners the development wasn’t cost effective.
Mr Hayman said Perks had not ruled out the future possibility of more development at the plaza.
Full story in this week's Herald.
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