Gold Coast neighbourhood mall My Centre Nerang on the market

Gold Coast neighbourhood shopping centre My Centre Nerang is being brought to the market and is expected to attract major investor interest.

The sale, to be offered on August 6, is managed via an expressions of interest campaign by Harry Dever and James Wilson of Colliers, together with Michael Hedger and Joe Tynan of CBRE.

Sitting on a 42,230sqm freehold site at 57 Station Street, Nerang, the centre comprises 9974sqm of gross lettable area anchored by Coles and Aldi, while further supported by 38 specialty retailers, three kiosks and 469 at-grade car parks, all accessible within the inland Gold Coast corridor.

Dever said the offering emerged as a rare investment opportunity given its dual-supermarket anchor and strong catchment fundamentals in the heart of Gold Coast.

“My Centre Nerang offers secure day-one income and genuine future upside, supported by a low average specialty rent profile and a DA-approved staged expansion pathway that could grow the centre to around 17,400sqm,” he said.

The centre’s main trade area is forecast to grow from 55,577 to 69,827 residents by 2046, driven by large-scale residential developments, with annual retail spending projected to increase from $1.135 billion to $2.76 billion over the same period.

It is also well-positioned to benefit from the broader infrastructure and economic tailwinds shaping the Gold Coast, particularly reflecting growing investor interest in the evolution of suburban shopping centres across the city.

“The Gold Coast remains one of the country’s strongest long-term growth markets, supported by population growth, major infrastructure investment and ongoing residential development across key urban corridors,” Hedger commented.

In addition, both its supermarket provision and average specialty rents remain below benchmark levels, creating scope for long-term growth and rental reversion.

CBRE’s Joe Tynan further added that the asset provides clear value-add potential through its flexible planning framework.

“In a market where investors are increasingly seeking retail assets with more than passive income, that optionality is expected to resonate strongly.”

Generating a fully leased net income of $4.538 million per annum, My Centre Nerang, according to James Wilson, is now positioned within one of the market’s “most sought-after defensive” retail categories.