A private investment group is set to develop a two-level commercial building with a completed value of $4.5 million.
The Mount Sophia Group announced its latest commercial development which is the Toorak Central located on the corner of Amy and High streets in Toorak, Suva.
Mount Sophia Group’s founder and managing director, Avi Raju said Toorak was a busy and vibrant inner-city precinct.
“With Toorak Central, we are substantially upgrading a historic building in a great location to create a unique landmark in Suva.
“The ambiance and tenant mix will be akin to a stylish inner-city neighbourhood in Sydney, Melbourne or Auckland.
“The Toorak Central investment demonstrates our continued confidence in the Fijian economy.
“While the COVID-19 pandemic has created challenges locally and globally, we have decided to proceed with the development and take advantage of various incentives introduced by the Government of Fiji to boost economic activity.”
The building will have various retail and office spaces on the ground floor whereas the first floor would offer studio and one bedroom apartments.
According to the investment company the original building was built in the 1950s and the refurbishment would incorporate and enhance elements of the unique features of the original building.
The makeover of the property would also include modernising internal spaces, complete upgrade of services as well as revamping the entire external façade.
Architect Asia Pacific Inc (AAPi) Fiji, managing director and lead architect Peter Rankin said they were proud to be partners in this project.
“The design elements feature hip and edgy industrial chic themes complemented by a modern building façade, lighting and user practicality.”
Mount Sophia Group Business Development director Julianne Verma said they were thrilled to be working with the renowned AAPi.
“As Toorak Central is strategically located, we expect it to be a catalyst for further gentrification of Toorak, making it the precinct it deserves to be,” she said.
“We have spent much time on planning, to ensure we bring to the people of Suva, and Fiji, new dining concepts, boutique retail and stylish, conveniently located accommodation options.
We are excited to create Toorak Central.” The commercial building is scheduled to officially open in September 2021.
