Gold Coast development: Sunland expands planned new Mermaid Waters shopping centre

A new Gold Coast shopping centre will almost double in size from previously announced plans, with new details revealing its features and the real reason for the massive change.

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THE central Gold Coast’s first new shopping centre in more than 25 years will almost double in size, new plans reveal.

Sunland Group shrunk its long-proposed The Lanes Retail Village in late 2020 in response to the Covid crisis, anticipating a prolonged decline in shopping precincts.

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Now, less than three months out from construction starting, surging interest from Brisbane and Sydney-based retailers has seen the developer dramatically expand their plans for the European-style Mermaid Waters complex, which sits at the heart of the developer’s $1.3 billion mini-city.

Construction will begin before Christmas, with the complex to open in early 2023.

The shopping mecca will increase in size from a planned 7000 sqm to more than 12,500, with a raft of new retailers set to move in.

Inside Sunland’s giant new Gold Coast shopping centre

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Sunland Group managing director Sahba Abedian said the unexpected inquiries had led to the scaled-down project being scrapped.

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“The incredible location and unique architecture of The Lanes Retail Village has struck a chord with the retail and commercial community,” he said.

“In particular, we have seen a significant increase in inquiries from Brisbane based as well as interstate operators who are motivated to relocate or expand their businesses to the Gold Coast on the back of the Covid-19 pandemic.

“At a time of much uncertainty, the fact we are able to market a vibrant open-air precinct in a city that remains open for business is proving attractive to many operators.”

The expanded space will include retail laneways interwoven with a fresh food market hall, cafes, restaurants, medical centre, office space, entertainment and a lakeside community green.

Sunland bought the site on the corner of Bermuda St and Hooker Boulevard in 2015 and is developing the remaining sections around the shopping precinct as The Lakes masterplanned community.

It unveiled the original $200 million design for the shopping centre in December 2017 which was to feature more than 17,000sq m of retail space which was to include a cinema.

These plans were scrapped in October 2020 in the wake of the Covid-19 pandemic, with a smaller $82 million design unveiled which saw the cinema dumped and the retail space heavily wound back.

But with the city’s real estate market booming and large corporate retailers looking to relocate to the Gold Coast, Sunland have rolled the dice on a bigger project.

Mr Abedian said he anticipated the city’s dramatically growing population meant there would be enough interest and foot traffic to sustain another shopping centre.

Sahba Abedian. Photo: Richard Gosling

“With nearly 100,000 cars passing the site daily and 200,000 people living within a 10-minute drive, The Lakes will be a unique and highly visible community and we have a rare opportunity to create a vibrant leisure-retail destination with a strong community focus,” he said.

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