Fully Leased Corner Retail Centre with Significant Development Potential in Palm Beach
Adam Grbcic and Michael Kollosche of Kollosche Commercial are pleased to present The Cove Shopping Centre, Palm Beach ("The Site") - a prime landholding in a high-growth coastal precinct, supported by generous planning controls and immediate redevelopment potential.
This rare offering provides the opportunity to acquire a fully leased retail investment positioned on a high-exposure, north-east facing corner within the heart of Palm Beach.
The Site features a diverse mix of established tenants and is underpinned by strong income, while offering significant development upside for either mixed-use or residential projects.
Anchored by national operator Snap Fitness, and supported by popular local businesses including Subway, Palm Beach Seafoods, and White Bohemian, the centre benefits from long-standing occupants.
Comprising five titles with a combined land area of 2,053m²* and dual street frontage to Gold Coast Highway and Seventh Avenue, the site is just 150m* from the beach. Zoned Centre Zone under the Gold Coast City Plan, the site supports a building height of 39m (approx. 12 storeys), with scope to increase to 18 storeys via an Impact Assessable Application. The residential density of RD7 allows for 1 bedroom per 25m² of net site area.
Key Highlights:
• Land area: 2,053m²* across five titles
• Fully leased to 9 tenants with strong occupancy history
• Net income: $524,082 p.a. + GST*
• Prominent frontage: 50m to Gold Coast Highway*, 41m to Seventh Avenue*
• Centre Zoning with 39m (12-storey) height limit and RD7 density
• Walkable to two proposed G:Link light rail stations
• Close to key amenities including Palm Beach Surf Club, The Collective, and Pavilions Palm Beach
Located in one of the Gold Coast's most tightly held suburbs, this site is positioned to benefit from continued urban growth, ongoing infrastructure investment, and increasing demand for high-density living.
This is an exceptional opportunity for developers, land bankers, or investors seeking a high-performing asset with long-term redevelopment potential.
The property is offered for sale via Expressions of Interest closing Friday 15th August at 2pm.
For further information or to arrange a private inspection, please contact the exclusive agents Adam Grbcic or Michael Kollosche of Kollosche Commercial.
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