Neighbourhood retail precincts on the Gold Coast are undergoing a quiet transformation. Once dominated by low-budget tenancies and basic convenience stores, these community hubs are being reimagined as lifestyle destinations that combine day-to-day essentials with local dining, health services and boutique retail.
This renaissance is being driven by a mix of infrastructure investment, demographic shifts and development potential, particularly in key coastal corridors where rezoning supports higher-density outcomes. The result is a new wave of neighbourhood centres that not only serve their local catchments, but contribute to the broader character and identity of the suburb.
Shifting the Retail Landscape
According to Kollosche Commercial agent Adam Grbcic, local centres are in demand for their built-in community appeal and consistent performance.
“Neighbourhood retail shops are highly sought after due to their location, generally found in well-exposed, central and easily accessible areas that serve a particular precinct,” says Adam. “They offer a diverse mix of tenancies, often with long-term leases that reduce vacancy risk and support reliable cashflow.”
Where some might have questioned the future of shopfront retail in the era of online shopping and Uber Eats, the resurgence of suburban precincts tells a different story. A successful neighbourhood centre today is more than just a place to pick up the groceries or a quick curry. It’s where you grab a coffee, visit the physio, meet friends for lunch or access essential services without heading to a larger centre.
“Consumers still want somewhere to go for a coffee and a meal, as long as it’s in a lifestyle destination,” Adam adds. “There’s also an ongoing need for everyday services like hairdressers, medical centres and allied health.”
A New Era for Local Centres
This demand is now being matched by a new wave of investment and redevelopment. With Light Rail Stage 3 extending south and the SEQ Regional Plan placing increasing emphasis on infill development, tired retail strips are being repurposed into activated mixed-use hubs.
“The retail offering along parts of the Gold Coast Highway has been held back in recent years, largely due to uncertainty around light rail construction and potential rezoning,” Adam explains. “In many cases, that’s resulted in a lower standard of tenants such as massage parlours, tobacconists and minimal investment in fit-outs.”
“But we’re now entering a new era where retail precincts are being reinvented as destination spaces. Higher foot traffic, better tenants and stronger rents are supporting the capital investment required to revitalise these centres.”
From Nobby Beach to Mermaid Beach
The Oxley in Nobby Beach is a boutique dining and lifestyle precinct that has re-energised its streetscape. Anchored by a curated mix of food and retail – including a grocer, butcher, café and eatery village – the precinct reflects a deliberate mix of culinary offerings, strong architectural intent and a tangible uplift in precinct appeal.
Just north, Kollosche Commercial’s sale of 2375 Gold Coast Highway, Mermaid Beach in February of this year reflects the market’s appetite for this asset class. Sold for $26,000,000 by Adam and Tony Grbcic, the fully tenanted retail centre featured 15 long-standing operators including BWS and NightOwl. The property’s strategic position opposite a future light rail station and only 300 metres from the beach made it a prime candidate for future redevelopment.
The site has since been earmarked for The Alfred, a proposed landmark mixed-use development that will include luxury apartments, ground-floor dining and retail, and a dedicated co-working space. Plans for the 12-storey project, designed by BDA Architecture and led by developers Aleva and Radius, signal a bold shift in how these sites are being reimagined to meet both commercial and residential demand.
A Palm Beach Opportunity
This same potential is now playing out in Palm Beach where The Cove Shopping Centre, at 1156–1164 Gold Coast Highway, is subject to an expressions of interest campaign led by Adam and Michael Kollosche.
The fully leased corner site comprises five titles across 2,053m2, positioned just 150 metres from the beach. Anchored by Snap Fitness and supported by tenants such as Subway, Palm Beach Seafoods and White Bohemian, the property generates a net income of $524,082 per annum, with all leases including demolition clauses to enable redevelopment.
Zoned Centre Zone under the Gold Coast City Plan, the site supports a 39 metre building height (approximately 12 storeys), with potential for 18 storeys under an impact-assessable application. With walkable access to two proposed light rail stations, The Cove site is ideally placed to follow in the footsteps of other revitalised precincts.
“Sites like this are ticking all the boxes for developers,” says Adam. “You’ve got strong holding income, flexible zoning, and a walkable beachside location in a suburb that continues to attract residents, businesses and investment. These opportunities are becoming harder to find.”
Looking Ahead
With increased density and improved public transport driving population growth along the coastal corridor, neighbourhood centres are poised to play an even greater role in how Gold Coasters live, shop and socialise.
The key to success, according to Adam, is tenant mix: “The right combination of tenants is crucial. It affects foot traffic, encourages repeat visits, reduces revenue risk and helps attract long-term, quality occupants.”
As more tired retail strips are replaced with thoughtfully curated precincts, investors and developers have an opportunity to shape the next generation of Gold Coast neighbourhoods, ones that meet the everyday needs of locals while enhancing the fabric of the community.
For more information on The Cove Shopping Centre site or to request an Information Memorandum, contact Adam Grbcic on 0404 087 772 or Michael Kollosche on 04111 888 15.
