Gold Coast development news: Plans for $200m ‘European’ retail resort revealed

A former Olympian is at the centre of a major project that could be the first of its kind in Australia. SEE WHAT’S PLANNED

A fellow who swam in two Olympics for Mozambique is at the centre of plans for what could be called a retail master ‘stroke’ at Mermaid Waters.

Chakyl Camal, who came to Australia in 2009 with $500 to his name, is CEO of a group which is out to make a splash with a $200 million European-influenced retail resort that will be the centrepiece of The Lakes community.

The Lanes project could be the first of its kind in Australia and will mark a bold Gold Coast debut by the multifaceted Panthera Group.

Panthera, founded six years ago by Chakyl in tandem with best mate Mario Evangelo, has just consummated a $45.8 million deal, finalised over a 45-minute Zoom call, to buy the retail site from the Sunland Group.

The deal includes ownership of a large lake that’s the centrepiece of The Lakes but don’t expect to see the 32-year-old Chakyl churning up the water.

No, it’s more likely that gondolas and other non-motorised sports will keep onlookers entertained.

The Panthera aim appears to be to have The Lanes retail resort underway later this year and Chakyl has moved – lock, stock and barrel – to the Gold Coast to oversee development.

The 50-metre freestyle sprinter was sponsored to Australia in 2009 a year after representing Mozambique at the Beijing Olympics and, after training for three years with the NSW swimming body, again represented his home country at the London Games.

Chakyl, when not training five hours a day, worked as a landscaper and successfully chased a university business property degree.

He and Mario, who worked together at a Sydney developer, have set out to ‘marry’ digital technology to retail and other assets.

Their development at The Lakes matches Sunland’s vision for the retail site and will set out to create a lifestyle shopping experience, rather than a rush in, buy-it-and-leave outing.

That means laneways laced with cafes, restaurants, bars, and beauty, health and wellbeing venues, not forgetting a fresh-food market hall.

A large amphitheatre will enable The Lakes community and visitors to loll by the lake, which will be fronted by a pavilion.

Completion of The Lanes, to be built in two stages, could be three years away. Panthera, which has a funds management arm, is no newcomer to the retail arena.

In April it more than doubled its money when it sold the Maitland Riverside Plaza in the Hunter Valley for $46 million.

Chakyl Camal

Panthera is a former partner in the Mercato on Byron centre, sold for $120 million last year by funder Wingate and Gold Coast developer Robert Badalotti.

Meanwhile, settlement of the The Lanes retail site completes what has been an extremely lucrative investment for Sunland.

It bought the 42ha The Lakes site for what has proven to be a bargain $61 million in 2014 and has built towers, sold off home sites and a retail strip, and unloaded several undeveloped parcels.

It’s profit on the sale to Panthera alone is an impressive $26.3 million.

The sell-off of ‘pieces’ has also been a winner for the two men who have handled sales – father-and-son Tony and Adam Grbcic, of Kollosche Commercial.

The South African go-getters have chalked up sales worth $94.5 million at The Lakes in the past nine months.

Their commissions mean they should be able to afford plenty of coffees at The Lanes when it opens.