Gold Coast: Local Shopping Centre on Nerang St at Southport sold to State Government for $4.4 million

The site of the iconic shopping centre has been earmarked for a future project.

THE Department of Transport and Main Roads has bought a longstanding Southport shopping centre as part of its land-banking program ahead of a future widening of Nerang St.

The Local Shopping Centre, at 171 Nerang St, has been bought from the Chegg family, which had owned the site since 1957, for $4.416 million.

Brett Delmege, of Delmege Agency, yesterday said he understood the department intended to seek tenants for the centre, which was sold vacant.

“I understand the department previously has acquired other properties along this stretch of Nerang St.”

The Local Shopping Centre at Southport. Picture: Supplied

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A spokesman for the department yesterday said there were no “current” plans to upgrade that section of the street and that the property was bought after a request from the owner under the department’s early acquisition policy.

Mr Delmege said the Main Roads deal came hard on the heels of another buyer, who was paying similar money, withdrawing.

“The site is 3174sq m and the buyer found out that nearly 1400sq m of it had been shaded by the Government for future roadworks.

“That nearly halved the site and made it too difficult for that party and they pulled out.”

The Southport shopping centre. Picture: Supplied

The Local Shopping Centre, which has a frontage to Eugaree St and at one time was home to a supermarket, is a three-level building with 25 tenancies.

When it was marketed in September, Mr Delmege said the property carried a neighbourhood-centre zoning and could be suitable for a mixed-use development, with retail at street level and two levels of apartments above.