**FILE** A Monday, Oct. 21, 2013 file photo of a Masters store in at Nerang on the Gold Coast. Retail giant Woolworths is looking to either sell or wind up its struggling home improvement arm, which includes the Masters hardware chain, after sustaining heavy losses. (AAP Image/Dave Hunt) NO ARCHIVING

As Home Consortium steps in.

Home Consortium managing director, David Di Pilla has told local Queensland media that the company will take over former Masters sites to develop shopping centres in Bundall, Nerang and Upper Coomera, with the first likely to open by July 2017.

AAP Image/Dave Hunt

Tenants will include JB Hi-Fi, Spotlight, The Good Guys, Super A Mart, Nick Scali, Supercheap Auto, and Fantastic Furniture.

“We are creating a good news story out of what was a down story for the Gold Coast. We expect 100 to 150 people could be employed at each venue during mall construction work and that, at the end, there will be 150 jobs at each property,” Di Pilla said.

Di Pilla said Home Consortium is in the process of applying for development approval to convert the former Masters warehouses into shopping centres. Conversion work at each property is likely to take up to four months.

Home Consortium has bought the Bundall and Nerang properties and is leasing the Upper Coomera venue from developer Norm Rix.