Real estate investment and advisory group, AsheMorgan, has purchased Harbour Town Melbourne in from ING Real Estate.

AsheMorgan plans to reposition Harbour Town Melbourne to capitalise on expected growth in the Melbourne Docklands.

Alton Abrahams, principal at AsheMorgan said that with construction of more apartments expected to begin in 2015, that growth is expected to increase demand for casual dining, general entertainment, fresh food and opportunities to shop for fashion, general merchandise, and services.

“AsheMorgan has extensive plans to overhaul the existing retail offer and amenity of Harbour Town Melbourne, with a focus on strategic leasing opportunities to bolster the existing retailer mix setting the precinct apart from other retail and entertainment offers nearby for customers,” Abrahams said.

“In coming years, we will invest in significant capital investment in Harbour Town Melbourne to reposition the centre as a destinational shopping and entertainment precinct.

“In addition to the centre upgrade, we fully intend to leverage the major drawcards of the area, Medibank Icehouse, Costco, the Melbourne Star observation wheel and the centre’s 2800 onsite car parks.”

AsheMorgan has appointed Stephen Beaumont as GMof Harbour Town Melbourne.

Beaumont comes with significant experience in managing large scale assets having previously worked with AMP Capital Shopping Centres, Lend Lease Retail and the Pacific Shopping Centres.

Rita Simonetta has been appointed as marketing director.