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Retail Sector Growth Inspires New Robina Centre Construction

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Continued growth in Australia’s large format retail sector has sparked construction of the new Home + Life Robina Centre on the Gold Coast.

On track for completion in August, the Home + Life Robina Centre is a 14,770 square metre large format retail complex located in heart of the Gold Coast’s prime retail precinct and located in close proximity to the Super Regional Robina Town Centre which opened in 1996 and is the largest retail centre on the Gold Coast and ranked amongst Australia’s top 10 centres.

“The Home + Life Robina Centre will create exciting new opportunities for retailers looking to expand their existing footprint in Queensland, or for new brands keen to secure their first outlet in an established and growing market,” CBRE’s Damian Crocetti said.

The Robina Centre have pre-committed tenants including The Reject Shop, Pet Stock, Toys & Babies R Us and Kitchen Connection, with additional brands to be announced over the coming months.

QIC Real Estate Managing Director Steve Leigh said the commencement of construction on the project highlighted strengthening confidence in the Gold Coast’s vibrant retail market.

“Home + Life Robina will provide an opportunity to bring an even broader offer to Robina Town Centre, and make it easier than ever for customers to fulfil all of their shopping needs in one convenient location.”

The upcoming opening of the Home + Life Robina Centre follows a strong year for Australia’s large format sector, with a boom in home renovations helping drive consumer demand for household goods.

“The centre is servicing a major segment of the retail market, which currently comprises large format retail spending of approximately $939.6 million nationally – and forecast to grow to $1,302.9 million by 2025/26,” Mr Crocetti said.

Mr Crocetti said higher house prices and the lower interest rate environment had sparked an increase in the number of people looking to upgrade their existing home.

“The uplift in household goods spending continues to support a strong base for retail growth, with many operators looking to expand with either larger stores or additional outlets in new locations.”

The Home + Life Robina Centre is expected to benefit from a central location in one of the Gold Coast’s fastest growing suburbs, servicing a catchment with a population forecast of 337,185 by 2026.

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Article originally posted at: https://https://theurbandeveloper.com/articles/retail-sector-growth-inspires-new-robina-centre-construction