Population growth and demand for household goods are continuing to drive large format and supermarket-anchored retail development in South-East Queensland.
New plans have been filed for a big-box showroom to accommodate retailer Harvey Norman at the northern end of the Gold Coast.
The proposal comprises a single-storey building with a gross floor area of 10,025sq m—including a 214sq m office mezzanine—as well as 250 carparking spaces within the Homeworld Helensvale retail hub at 502 Hope Island Road.
“The proposed development provides a contemporary and functional design outcome that will complement and enhance the existing Homeworld Helensvale development,” a planning report said.
Facade treatments with projecting elements have been designed to create visual interest and align with the Harvey Norman branding and colours.
“Importantly, additional goods and services will be provided further adding to the establishment of the mixed-use centre envisaged by the preliminary approval and intended to support the local residential catchment,” the documents said.
Homeworld Helensvale was acquired for $265-million in mid-2022 by a purchaser linked to Taiwanese-backed developer Shayher Group.
The bulky goods homemaker centre sits on a 20.3ha site with significant development upside and several stages planned.
Meanwhile, a Coles supermarket-anchored neighbourhood retail centre is planned for a 31,261sq m site up the Pacific Motorway at Richlands in Brisbane’s outer south-west.
The development proposal at 159 and 177 Progress Road has been filed by Home Investment Consortium Company.
It comprises 6062sq m of gross floor area, including a 3918sq m supermarket and 18 specialist tenancies ranging from 74sq m to 185 square metres.
“The proposal involves the development of a new lifestyle and shopping destination which will accommodate a range of retail and commercial tenants,” the documents said.
“The proposed layout offers a variety of tenancy sizes, fostering a dynamic environment where these tenancies can readily co-locate.
“The inclusion of larger format retailers and smaller-scale tenancies on the site will significantly diversify and activate the centre.
“The intention to provide co-locatable tenancies represents a modern retail and commercial offer that provides flexibility and diversity for tenants. This approach is designed to respond to continuously changing market and local demands, as it allows for easy adaptation and collaboration between businesses.”
According to the latest research from JLL, Australia’s retail sector faces record-low new supply, with the development pipeline for 2024 and 2025 representing only 21 per cent of the 10-year average.
“The theme of low supply has been one of the factors driving institutional capital to re-explore retail investment opportunities,” it said.
JLL data indicated retail was the number one sector for transaction volumes in 2023, ahead of the office and industrial sectors, for the first time in 19 years.
