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Gibbens Family investing in the Coast The Gibbens Family moved their spring making business to Gosford from Sydney in the early 1970s and it has undoubtedly been the most successful business relocation the Central Coast has seen. This is a bold statement but when compared to the multi-nationals who have come and gone leaving nothing in their wake it may be worth analysing the real benefits that Gibbens Group delivered to the regional economy. Their first investment, apart from their homes, was five acres (2 hectares) on Manns Road at West Gosford on which George Gibbens built his factory to make springs for the local and export market. In the years since, Greg Gibbens’ sons have reinvested millions of dollars in the Central Coast. Their first commercial property was a Joint Venture in the mid-1980s that saw what was then known as the Harvey Norman Complex (now Palm Court) developed at Erina. It was a visionary development with offstreet parking surrounded by retail shops with the Harvey Norman discount store as its centrepiece. This property was developed because the Joint Venture partners had identified a need to provide services that were created as a result of the opening of Erina Fair nearby. This complex proved to be highly successful and set Erina on the growth path that we see today. Shortly after the Palm Court complex was completed and fully leased, which showed an increasing demand for retail space the
Some of the many guests who attended the opening of the Tower Building Riverside Park in the building’s foyer Family developed their next property opposite at 203 Central Coast Highway. Again this was quickly leased up. With a growing demand for retail space becoming more apparent the Gibbens Family and their joint venture partners in early 1990 acquired the well known chicken farm on the corner of the Central Coast Highway and Karalta Road at Erina and proceeded to develop what has become one of the most successful retail / commercial precincts on the Central Coast, Fountain Plaza. Subsequently Erina Plaza, nearby was developed and again successfully leased in a short space of time.
The Gibbens Family can justly and proudly say that the growth of the Erina, was due to their commitment to the place where they had decided to relocate to twenty-five years earlier. Then in early 2000 Matthew Gibbens became involved in the management of the family business and saw similar opportunities for investment to those that existed in the early 1980s at Erina at West Gosford. They set about acquiring six properties adjoining their West Gosford holding, buying up over 100,000 sqm with the intention of establishing a new retail and commercial continued on page 28
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CENTRAL COAST BUSINESS REVIEW september 2013