'The Cove Shopping Centre' 1156-1164 Gold Coast Highway
Palm Beach 4221

Fully Leased Corner Retail Centre with Significant Development Potential in Palm Beach

This rare offering provided 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:

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 was an exceptional opportunity for developers, land bankers, or investors seeking a high-performing asset with long-term redevelopment potential.

For further information, please contact the exclusive agents Adam Grbcic or Michael Kollosche of Kollosche Commercial.