Connect with us
Gold Coast Property Management Leader

Commercial Property

Construction Under Way On New Hope Island Shopping Centre



Construction Under Way On New Hope Island Shopping Centre

Construction is now under way on the Hope Island Marketplace shopping centre which will deliver a retail destination to residents and visitors in the popular northern Gold Coast location.

The new development will feature approximately 10,000sq m of retail space and has already secured pre-commitments from major supermarket chains, Woolworths and Aldi, supported by a quality mix of specialty retail, commercial and dining tenancies.

Hope Island Marketplace will be the only dual supermarket offering in the main trade area and will also house the catchment’s only Woolworths and Aldi stores, providing a major boost to convenience shopping services for locals and tourists alike.

It is prominently located on the high-profile intersection of Broadwater Avenue and Mervyn Drive, Hope Island, immediately adjacent to the Hope Island Tavern, a 7-Eleven and McDonalds.

Construction works have commenced onsite and the centre is scheduled to open in early November 2018. Retail spaces in the Austin Property Development project are being marketed by Ashley Moffat of LJ Hooker Commercial Gold Coast together with Rudi Scutti and Cody Buck of CBRE Gold Coast.

In addition to its two secured anchor supermarket tenants, Woolworths (4,092sq m) and Aldi (1,596sq m), the Hope Island Marketplace will also feature up to 36 speciality tenancies, ranging in size from 17sq m up to 550sq m.

The fully air-conditioning shopping centre will feature a vibrant food and beverage precinct, a health and wellness hub, professional services and a fast food precinct serviced by a drive thru facility. There will also be 484 car parking bays onsite.

hope island

LJ Hooker’s Ashley Moffat said there has been exceptionally strong leasing interest in the Hope Island Marketplace, with more than 70 per cent of the development already under offer.

He said this demand reflects the positioning and quality of the project and the attractive demographics of Hope Island and its surrounding catchment area.

“The centre is ideally located in the heart of the rapidly evolving Hope Island community and in close proximity to major arterial roads including the M1 and local attractions such as three international golf courses, marinas, hotels and resorts, and a number of popular master-planned communities,” Moffat said.

“This site has been earmarked for a potential shopping centre development for nearly 15 years and it is very pleasing to see the local community finally getting the quality retail offering they deserve. Hope Island Marketplace will deliver a real point of difference for local shoppers with a true convenience based, community inspired shopping destination.”

Hope Island is located approximately 20km north of Surfers Paradise and is surrounded by a number of prominent master-planned residential communities such as Sanctuary Cove, Hope Island Resort, Marina Quays and Cova Hope Island.

CBRE’s Rudi Scutti said Hope Island is an affluent fast-growing suburb with strong underlying demographics, including an average income per capita 21% higher than the national average.

“The new Hope Island Marketplace is located on a prominent thoroughfare in the heart of this rapidly evolving area, which is set to benefit from continued residential, tourism and retail spending growth,” Scutti said.

“The main trade area population, estimated at 22,870 in 2016, is projected to increase to 29,000 people by 2026. Neighbourhood centres with major full-line supermarkets typically serve a population of 8,000-10,000 people, highlighting the area’s capacity to easily support two new major supermarket offerings. Furthermore, annual retail expenditure in the main trade area is currently estimated at $372 million and is forecast to grow to $633 million per annum by 2026.”

“Given this strong projected growth, we have a diverse range of ambitious retailers wanting to secure a prime position at the new Hope Island Marketplace to capitalise on this and the modern retail facilities and vibrant lifestyle setting on offer.”

Originally Published:

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Commercial Property

Meriton Ocean Tower an Icon for the Next Era



meriton ocean tower
Australia’s largest apartment developer Meriton says its latest development “Ocean, Gold Coast” will transform the Surfers Paradise Beachfront.

Rising 252 metres, Ocean will offer residents unobstructed, never-to-be built out views across the sea and beyond.

Ocean is set to be a beachfront landmark, bringing to life a new era in modern living, one where lifestyle, convenience and luxury meet.

On the doorstep of the Cypress Avenue light-rail station and just 20 minutes from Coolangatta Airport, Ocean will combine a vibrant lifestyle with modern amenities and easy connectivity, ensuring future residents will experience a quality of apartment living never before seen on the Gold Coast.

The 74-floor glass tower designed in collaboration with award-winning architects SJB will feature 262 bespoke apartments and 446 luxury 5-star hotel suites.

“We will be selling the high life, literally” Meriton founder and managing director Harry Triguboff said.

The veteran developer recently announced apartment buyers would have the opportunity to buy from level 45 up to level 74.

The lower floors would be devoted to hotel suites trading under Triguboff’s Meriton Suites brand.

meriton ocean tower

The 74-floor glass tower designed in collaboration with award-winning architects SJB will feature 262 bespoke apartments and 446 luxury 5-star hotel suites.

Ocean, which fronts premier beachfront street The Esplanade, will create a bold first impression from the moment residents and guests step into the expansive lobby with its soaring 4.5 metre ceilings.

Residents will pass through this space to their own private reception area, absorbing the opulent atmosphere as they go, and enter a high-speed smart lift, ensuring a quick return to their apartments.

The Ocean apartments will range from two-bedroom layouts with floor areas of up to 91sq m through to three-bedroom designs averaging 120sq m.

Ocean will also feature a rare collection of five top-floor penthouses that will have floor areas of up to 203 square metres.

The hero of the home is undoubtedly the contemporary kitchen in each Ocean apartment. The sleek and luxurious design make it as functional as it is beautiful, with every detail considered.

Features include premium SMEG stainless-steel appliances including concealed undermount rangehood, gas cooktop, oven, microwave, and a fully integrated dishwasher, Caesarstone benchtop and mirror splashback, contemporary pendant lights above all island benches add an extra element of sophistication.

The tower will have three levels of basement and will sit on a five-level podium with extensive lifestyle facilities exclusive to Ocean residents and their guests complementing this stunning area.

A beach club on level five is serviced by a bar and features lush landscaping, while level 33 features a 22-metre indoor pool with unobstructed ocean views, gymnasium, sauna and community rooms.

meriton ocean tower

The Ocean apartments will range from two-bedroom layouts with floor areas of up to 91sqm through to three-bedroom designs averaging 120sqm.

Triguboff said Ocean, on which construction started in May on the 3833sq m site, would be one of his most iconic projects.

“It will be my 19th tower on the Gold Coast and by far my most ambitious – you’re never too old to have ambition.

“In my judgment it’s going to be an absolute winner.

“There’s nothing like it on the Surfers Paradise beachfront – it’s got everything and every apartment will have unobstructed ocean or district views.

“I’d equate Ocean to a city within a city, with its own leisure facilities, beach club, supermarket, shops, restaurants, and a childcare centre.”

Triguboff said he expected Ocean to have the Surfers Paradise beachfront market virtually to itself.

“The banks have made it impossible for Australian developers to contemplate a beachfront project of any scale.

“In fact, we expect Chinese buyers to head the Ocean way and take a third of our apartments.”

No price has been put on the Ocean high life – prices are to be released ahead of the project’s launch next month.


Continue Reading

Commercial Property

Scentre Group launches 21st century shopping centre



scentre shopping mall

Scentre Group has cut the ribbon on the $470 million development at Coomera in Queensland, the property giant’s first greenfield shopping centre project since being spun out of Westfield.

In a break with tradition the centre at the northern end of the Gold Coast will also open without having a department store as the anchor.

It has been 12 years since Westfield opened its North Lakes mall, which was before the creation of Scentre Group. The next big project for the landlord will be the shopping centre at Barangaroo Central in Sydney.

Using the town centre model, in an attempt to increase dwell time for visitors, the 59,000 square metre site will offer up to 40 per cent of space devoted to entertainment and leisure with and Event Cinemas with Gold Class.The major tenant brands will include H&M and Mecca Cosmetica and also a Universal movie store as well 40 specialty retail stores, including Coles, Woolworths, Kmart, Target, JB Hi-Fi, Rebel.

One of the key aspects of the new shopping centre is The Backyard, which is an area that offers a play area for children to hold birthday parties, a gym zone, BBQ areas and water features.

Westfield Coomera sits opposite the Dreamworld theme park and the nearby Movie World, to capture the tourist dollars.

Scentre’s chief executive Peter Allen said the group used the ”blank canvas” of a greenfield project to create a shopping centre of the future.

scentre shopping mall

Scentre Group has opened its new $470 million Coomera shopping centre, Gold Coast, Queensland

”Coomera centre is the first mall we have created from the ground up and using data collected we can curate it for the area, which is a growth corridor” Mr Allen said.

Mr Allen said the research undertaken by Scentre has shown that customers want more leisure and entertainment with specific specialty areas, such as a holey moley golf putt putt bar and restaurant.

”We will have key retailers that offer the same individual products that are offered in a traditional department store,” he said.

Mr Allen said the ongoing parliamentary inquiry into the franchise industry had had no direct impact on the Scentre Group.

He said, as a landlord, Scentre always encouraged strong and healthy relationships between franchisors and franchisees.


Continue Reading

Commercial Property

Circle On Cavill Mall Hits the Block with $80 Million Price Tag



cavill mall

Sydney-based funds manager EG has listed the Circle on Cavill retail centre in the heart of one of Australia’s busiest tourism destinations, Surfers Paradise.

Like many retail landlords, EG recently shifted the centre’s focus to dining, convenience retailing and customer experience.

The 12,364sq m centre underwent $13 million in capital works, including the installation of a community space, upgrades to tenant fit-outs, a children’s playground, landscaping and a giant television screen.

EG acquired the shopping centre, which sits at the base of Sunland’s twin tower Circle on Cavill development, for $40 million in 2011.

Anchored by Woolworths under a long-term lease, EG’s repositioning of the centre as more entertainment-focused has increased the visitations post-upgrade, EG divisional director Daniel Farley said.

“The physical works have greatly transformed the shopping experience to a day and night destination with diverse food and entertainment options.”

cavill mall

McVay Real Estate agent Sam McVay is marketing the property alongside JLL’s Jacob Swan and Sam Hatcher.

“The Gold Coast market continues to go from strength to strength, with the success of the 2018 Gold Coast Commonwealth Games providing the region with even greater global visibility,” McVay said.

“The growth in offshore demand for the Surfers Paradise CBD market continues unabated.”

EG Funds is developing a major twin-tower, mixed-use project nearby on Orchid Avenue and Surfers Paradise Boulevard.

Billed as an “entertainment hub for south-east Asia”, the recently approved twin-tower skyscrapers will reach 56-storeys and 72-storeys above the Surfers Paradise entertainment district.

Continue Reading

Make your Super Work

Positive Cashflow Property

duplex designs, dual occupancy homes

Property Investment Advice