Avonhead Shopping Centre, built 55 years ago by the late Maurice Carter, has been sold by his family to local investor Jack Lourie of Jaxx.

The transaction, managed off-market by Colliers investment specialists Courtney Doig and Hamish Doig, marks a new chapter for the retail hub.

While the sale price remains undisclosed, Lourie is set to bring his expertise in commercial refurbishments to revitalise the centre.

“Jack specialises in commercial refurbishments and wants to upgrade the centre to meet the demands of a modern shopping experience,” Doig said.

“It has stood the test of time very well but will benefit from further enhancements. Jack is excited to work with tenants and reinvigorate the centre.”

Family spokesperson Philip Carter said the decision to sell came after being approached by Lourie.

“It’s a wonderful property with excellent longstanding tenants, but the time is right for us to move on and open the opportunity for another owner to add further value,” Carter said.

The 3,876sqm shopping centre, located on the corner of Withells Road and Merrin Street, includes 158 on-site carparks and is anchored by a Woolworths supermarket. Other tenants include a pharmacy, bookstore, and the Merrin Street Brewery Bar.

The Avonhead Shopping Centre has undergone two redevelopments since its inception and has served as a cornerstone of the north-west residential area.

Maurice Carter, who developed significant portions of the surrounding neighbourhood during the 1960s and 1970s, is remembered for his contributions to the area.

His son, Philip Carter, continued the family’s development legacy with the Hyde Park subdivision off Withells Road.

With the sale, Lourie aims to modernise the centre and maintain its appeal to the high-density residential catchment it serves.