The Lanes: First look at Panthera Group’s proposal for residential towers at Mermaid Waters site

A proposed shopping centre has been scrapped in favour of a giant $1bn-plus retail and residential tower complex. FIND OUT MORE

A greenlit shopping centre project has been scrapped in favour of a giant $1bn-plus retail and residential tower complex in the heart of one of the Gold Coast’s most prominent waterfront locations.

Panthera Group has unveiled plans for The Lanes shopping centre site, more than three years after the Sydney-based company bought the Mermaid Waters project from Sunland Group.

It lodged plans with the Gold Coast City Council on the weekend for a new mixed-use project which will have a shopping centre topped with three towers.

Artist impression of the revamped The Lanes shopping centre at Mermaid Waters. Picture: Supplied

Panthera CEO Mario Evangelo said the towers, which will sit on the corner of Bermuda St and Hooker Boulevard, would range from 15-28 floors and would have a total of 700 units.

“It’s very different from the existing approval and we are really excited about it after having discussions with (Mayor) Tom Tate and (council planning boss) Mark Hammel,” he said.

“The development goes from being a retail market place to a bespoke shopping centre which will have an anchor supermarket, health and wellness retreat and a podium which will have both a pool and pool bar.

“The three residential towers on the podium will help to address the housing crisis we are dealing with right now and it’s important because without more residential, we simply cannot deliver the retail, something which was promised to the local precinct.”

Mario Evangelo, CEO of Panthera Group. Picture: Supplied

The new-look centre will have more than 19,000 sqm of retail and commercial space, around 8000 sqm of which will be taken up by the health and wellness centre.

It will have waterfront dining in the precinct, as well retain some of the elements of the original centre proposal, including a large public space overlooking the lake at the site’s heart.

“It will retain the laneway feel, the community green which can be used for major events and presentations,” Mr Evangelo said.

“By doing this, it is forward-thinking, it’s a new development which is different from the existing approval and supports sustainable living.

“The community needs and wants to propel the Gold Coast into the future and we are very excited about it.

Artist impression of the revamped The Lanes shopping centre at Mermaid Waters. Picture: Supplied

“It will be a great addition in time for the 2032 Olympic Games and address a lot of the needs of the city and this development will propel the Gold Coast onto the world stage.”

It is the latest twist in the story of the planned shopping centre, which was first proposed in December 2017.

Sunland at the time announced a $200m two-level centre which would have 80 shops – cafes, restaurants, a fresh food hall, health and wellbeing services and cinemas – across 17,000 sqm.

Construction was tipped to begin in early 2019 with a Christmas 2020 opening.

The company initially focused on building four residential towers which were later completed.

Plans for the shopping centre were dramatically redesigned in late 2020 in the wake of the Covid-19 pandemic, which saw shopping centre patronage plummet.

The second version of the proposal was to see it cost $82m, while more than 10,000 sqm of retail was dropped from the site, including a cinema

A concept image of Sunland’s vision for The Lanes Retail Resort. Picture: Supplied

Sunland co-founder Soheil Abedian at the time said the “challenges for major shopping centres in the wake of the pandemic made it critical that future retail projects were shaped by consumers’ needs”.

“We felt it was more important for people to have more entertainment, restaurants, markets and healthcare,” he said in 2020.

Council approved the centre in February 2021 but ground never broke and the site was sold to Panthera in October 2021.

The news comes just a week after the owners of Benowa Garden shopping centre revealed plans to demolish its ageing complex and replace it with a giant mixed-use triple tower residential and retail precinct.

How the area looked before it was developed.

Planning and development experts and industry figures, including Mr Hammel, said it was unlikely stand-alone shopping centres would be built in the future, with mixed-use projects to be the new standard.

“Research from the work the city is currently doing developing its local growth management strategy is telling us people are more accepting of well-placed residential developments when they are supported by these kinds of amenities,” Mr Hammel said.

“By co-locating housing, commercial and retail offerings within these centres, we also importantly reduce reliance on cars, meaning residents can access services easier within a short walking or riding distance.”

Originally published as The Lanes: First look at Panthera Group’s proposal for residential towers at Mermaid Waters site