Southport Central retail precinct records 23 per cent vacancy rate during COVID-19 downturn

COVID-19 has dealt a blow to retail precincts across the Gold Coast but probably none more so than this Southport area.

COVID-19 has dealt a blow to retail precincts across the Gold Coast but probably none more so than Southport Central.

The precinct sits below three towers developed by the Raptis Group with the aim of revitalising the Gold Coast’s traditional business hub.

The Bulletin visited yesterday nearly one in four shops empty out of a total of fifty-six tenancies. That reflects a vacancy rate of 23 per cent.

Recent closures include DoDream Chicken, now up for lease, Noodle Southport and Delish Coffee House.

Empty and closed shopfronts and stripped interiors at Southport Central. Picture Glenn Hampson

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Ray White Broadbeach’s Adam Grbcic said the area has been hard hit because of its reliance on international students when enrolments have fallen because of the pandemic.

He said many of the 788 residential apartments in the towers are rented out as student accommodation.

“We manage six tenancies in Southport Central and figures from their accountants show their has reduced by between 60 and 80 per cent,” he said.

“Enquiry for leasing has diminished to almost zero however calls relating to owner-occupier retail properties has been consistent.

Empty and closed shopfronts and stripped interiors at Southport Central. Picture Glenn Hampson

“Southport Central lives and breathes off the accommodation upstairs and the offices.”

The Bulletin did find one positive sign while visiting yesterday.

Cafe Bliss n Java has posted a note to its customers to say they would be reopening for takeaway from tomorrow.

Tower one of the $700 million Southport Central project was completed in 2006 and the final tower finished in 2010.

When Raptis Group fell into financial difficulties in 2008 receivers completed the project.