The Lanes Retail Resort development precinct in Mermaid Waters has officially changed hands following the settlement of a $45,800,000 sale by Kollosche Commercial.

Sales agents Adam Grbcic and Tony Grbcic introduced developer Panthera Group to vendors Sunland Group late last year, setting in motion a deal that settled on 22 July.

“We had been working with Panthera on a number of opportunities, but The Lanes retail precinct fits with their desire to deliver a landmark project on the Gold Coast,” says Tony Grbcic.

“With Panthera based in Sydney, the deal was tied up in a 45-minute Zoom call. It’s exciting for all involved to see the settlement take place.”

The settlement paves the way for Panthera to deliver the 14,000m2mixed-use precinct which is the centre piece of Sunland’s masterplan development, The Lakes. Sunland is currently completing the balance of The Lanes Residences, comprising four 10 and 12-storey waterfront towers with retail and commercial components at ground level.

The Lanes precinct sale is the final piece of the sales puzzle across the 42ha site, which occupies a high-profile position on the corner of Hooker Boulevard and Bermuda Street.

Kollosche Commercial has handled sales totalling $94,568,182 inside The Lakes over the past nine months, including key residential and commercial development sites.

Panthera has agreed to deliver the vision for retail laneways interwoven with a fresh food market hall, cafes, restaurants, bars, beauty, health and well being, lifestyle entertainment, and a lakeside communal green space.

“We believe that retail is a lifestyle experience moving away from inconvenient consumption,” says Panthera Group CEO Chakyl Camal.

“We don’t want people to just spend their money and leave. We want people to feel something and enjoy the experience by staying longer.”

Kollosche Commercial’s leasing and property management specialists Kelly Buxton and Elke Rosen are now assisting Panthera to source local operators to service the precinct.

“This is a really exciting opportunity for local Gold Coast operators to be part of a landmark precinct for the city,” says Kelly.

“We are specifically looking for high-quality operators who offer something special in the wellness space, as well as those operating in food and beverage.”

Construction on The Lanes is scheduled to start as early as the final quarter of this year and will be delivered in two stages over an estimated 36-month program.