Coomera Collective: Potter Group unveils plans for new shopping centre development
A veteran developer has scuttled plans for a service station to instead build a glitzy new shopping centre. He reveals the inside story of his new project.
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Developer John Potter has scuttled plans for a service station as part of a new centre near the M1 at Coomera and is taking a wholly retail tack.
The Potter Group earlier 15 months ago unveiled plans for a development called Coomera Collective almost on the doorstep of Dreamworld. The Bulletin unveiled the renders for the new retail centre earlier this week.
It was to replace the Coomera Village shopping centre and to include a service station.
The change of heart comes eight weeks after planning approval was granted for the service-station inclusive project.
Mr Potter said the decision to alter course was influenced by the yields on service stations blowing out, which lowered their values.
“They (servos) also are very land hungry so I’ve decided to go back to a full-retail project.”
A Potter company paid $8.275m in late 2021 for the 6500sq m Coomera Village site, which has frontages to Dreamworld Parkway and Jowett and Yaun streets.
Mr Potter said last year that the neighbourhood centre he planned would provide an adrenaline shot to the Dreamworld Parkway strip, which had major residential developments behind it.
“We hope that what we develop will be of benefit to other retailers on the strip, to residents, and to day-trippers visiting Dreamworld.”
Coomera Village was bought from its owner for the past 31 years, the David Gainer-linked Foremost Properties.
The centre, with 21 tenancies and storage sheds, was put on the market in 2021 with net income of $597,000.
The new Potter plan, which is subject to development approval, will comprise three single-level buildings and will provide off-street parking for 80 vehicles.
The buildings will have a gross floors area of 2107sq m and the tenancies will be aimed at retailers, food and drink outlets, and healthcare services.
Drive-through food and drink businesses, part of the earlier plan, are not included in the new proposal.
First look: Glitzy new shopping centre unveiled for suburb
An old shopping centre will get a new lease on life when it is redeveloped to become a hip new retail mecca.
The Potter Group has unveiled plans to redevelop the ageing Coomera Village site just south of Dreamworld, with the complex to be demolished to make way for the new Coomera Collective.
The Dreamworld Parkway project will feature three new buildings cover 64855sq m and is planned to become the area’s new neighbourhood centre.
According to plans lodged with the Gold Coast City Council it will feature restaurants and takeaway facilities, retail tenancies and a medical centre.
The complex will have 80 car spaces and more than 400sq m of landscaping.
It will neighbour a new service station and dining development which was approved by the council in August.
The Coomera Collective is expected to operate from 6am to 10pm seven days a week
It’s the latest in a range of projects transforming the city’s north.
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