Mayfair Shopping Centre sold to investor with long-term plans for redevelopment

Mayfair Shopping Centre sold to investor with long-term plans for redevelopment

Victoria’s Mayfair Shopping Centre has been sold to the same company that purchased the Woodgrove Centre in Nanaimo last year.

Ivanhoe Cambridge, the mall’s former owner, confirmed it sold the business to Weihong Liu and her family business Central Walk on June 1 for an undisclosed amount.

It’s the second time the two companies have done business after Central Walk purchased Woodgrove Centre last September.

“I’m so happy to have completed this investment on beautiful Vancouver Island,” said Liu, an investor from China who has lived here for six years.

“Everyone treats everyone else in a friendly and respectful way here.  Because this community has accepted me with open arms, I am committed to continuing to work with local leaders to build the communities that we have invested in so that, together, we can make them the very best places that they can be.”

Liu says she has a long-term vision for Mayfair that includes redevelopment.

“In Central Walk’s path forward, our intention is to continue working respectfully and collaboratively with our peers in the industry and in government —no matter the size— to forge strong professional bonds, to empower and grow our society, and to enrich the livelihoods of the communities who our assets serve,  including those who are served by Mayfair,” she said.

In the short term, Lui said she wants to increase education, entertainment-based and community engagement events at the property once it’s safe to do so.

Central Walk is a multi-billion-dollar company that specializes in shopping centers and partnering with real estate brands “to generate assets, traffic, increase community use, provide family entertainment and promote green living.”

Mayfair Shopping Centre completed a $72-million renovation in 2019, adding 100,000 square feet of retail space and 2,000 new parking stalls.

Jeff LawrenceJeff Lawrence

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