Cavill Lane Chop Chop food precinct in Surfers Paradise on Gold Coast plagued by closures

An Asian food precinct has failed to turn around the fortunes of a struggling retail hub in Surfers Paradise plagued by closures and empty stores.

AN ASIAN food precinct has failed to turn around the fortunes of a struggling retail hub in Surfers Paradise plagued by closures and empty stores.

Property investor and football fan Phillip Wolanski and his Sydney-based Denwol group bought the retail and office area at the base of the Hilton towers in 2016.

8 Street in Harbour Town has no vacancies and is a roaring success. Picture: Glenn Hampson

They engaged Brisbane entrepreneur David Wu the next year to bring his 8 Street Asian food precinct to Cavill Lane as a foodie destination.

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Tenancies in Cavill Lane have proved difficult to fill in the past due to problems with wind and poor light in the corridor. The 8 Street precinct never opened after the relationship between Denwol and Mr Wu soured, with the former deciding to go it alone with its own project called Chop Chop.

But three years on Chop Chop has failed to deliver a revival to Cavill Lane.

The Bulletin visited the precinct this week to find numerous vacancies and empty stalls for lease. The emptiness is in stark contrast to 8 Street at Harbourtown, which is packed for the lunch trade.

The Chop Chop food precinct in Cavill Lane at Surfers Paradise.

A source who has worked with Denwol on its leasing strategy said the product was not the issue but the “shopping centre rents” upwards of $60,000 a year for a small stall. It was not sustainable for small businesses uncomfortable with forking out more than $1000 a week in rent, the source said.

In addition, he said Harbourtown had anchor tenants including Woolworths and JB Hi-Fi to pull in strong foot traffic that could be leveraged by the 8 Street eateries.

An empty shopfront at Chop Chop.

The Bulletin understands Denwol is rethinking its leasing strategy in 2021 although it declined to comment. Leasing agent Steven Black, of Retail Direct Property Group, also declined to comment.

Chop Chop tenants include Filipino dessert outlet Noypi Halo Halo, Korean Kitchen, Kathmandu Momo, Yum Cha Noodle Haus, Sharetea, and others. Denwol is a Sydney-based diversified property group owned by Mr Wolanski.