Alma Property specialises in transforming shopping centres into vibrant, successful retail destinations. With our market expertise and strategic vision, we help property owners achieve their goals and maximise the potential of their assets
Through strategic vision and market expertise, Alma Property has revitalized various shopping centres, helping property owners maximise the potential of their assets. Here is some of the recent exciting news and trends we are seeing across our portfolio:
+ Carrara Village - Nerang Broadbeach Road, Carrara
Alma Property was engaged by the owners of Carrara Village to lease their recently renovated shopping centre. Following the departure of Aldi Supermarket a couple of years ago our client undertook a comprehensive renovation program of the centre. This included a major facade uplift and an upgrade of the services and facilities.
Our team was recently appointed and executed a comprehensive marketing strategy, presenting the entire space as a generous tenancy of approximately 1,538 sqm, with an additional 190 sqm of space broken down into three separate tenancies.
The response from the market was very strong. Several retailers recognized the value that Carrara Village offers: convenience and accessibility, main road exposure, and 178 designated customer car parking bays.
We can confirm that after multiple offers our client has chosen a strong operator that will occupy the majority of the internal area. We will announce this tenant's name in due course.
+ Hope Island Marketplace - Broadwater Avenue - Hope Island
Alma Property has been leasing Hope Island Marketplace for a few years and our director's involvement with the asset goes back to when the project was designed and constructed by our client.
The Marketplace is anchored by Woolworths and Aldi, representing a cutting-edge retail shopping centre that balances essential community shopping services with a progressive retail destination, creating a truly unique market product.
As we approached the end of centre's first lease cycles, our team was involved in backfilling tenancies where leases were not renewed including lease renewals with some of the sitting tenants.
The shopping centre benefits from the growing local population and the heightened interest in Hope Island as a lifestyle destination, ensuring steady business for its tenants and attracting new retailers to the area.
Recent Lease Deals
Mitchell's Real Estate has leased an 89m² space situated in the external section of the shopping centre, facing the Marina Quays Boulevard entrance. This prime location is directly opposite a brand-new residential development that was completed earlier this year. The new tenant, Mitchell's Real Estate, replaced Professionals Real Estate.
Within the shopping centre, Proud Smile has leased a 68m² shop in a prime corner. This strategic location is directly across from Woolworths, the pharmacy and travellators offering high foot traffic and visibility. The lease agreement also includes a small additional space on the upper floor designated for an office and additional services.
Overall, Hope Island's transformation is creating a more affluent and active community, which supports the growth and success of the Hope Island Marketplace shopping centre and its retailers.
+ Soul Boardwalk - The Esplanade, Surfers Paradise
2024 has been a great year for Surfers Paradise and other tourist suburbs on the Coast. National and local tourists have been the majority and pre-pandemic similar levels already returned to Surfers, regarding international tourism that is still recovering.
Soul Boardwalk is strategically positioned with great frontage to both Cavill Mall and The Esplanade.
Recent Lease Deals
Yo-Chi Frozen Yogurt, a premium self-serve frozen yogurt and açaí concept, has leased a prime beachfront tenancy joining KFC, Hurricane's Grill, and a variety of other food and beverage brands. Established in 2012, Yo-Chi has quickly become a beloved brand with 26 venues across five states. Their decision to expand nationally underscores the appeal of Surfers Paradise as a thriving business hub.
Another fantastic lease was taken by FishBowl at a 208m² retail space within Soul fronting the vibrant Cavill Mall. The brand already opened its doors and is bustling with activity. This national gem in the food and beverage scene has expanded its footprint to 3 stellar locations along the Gold Coast. Starting with their flagship spot in Burleigh Heads, leased by Alma, their success story continues to unfold in our local market.
The commitment of two strong national brands shows the strength of this asset and the Surfers Paradise market.
+ Ripley Town Centre - Main Street, Ripley
We have been the exclusive leasing agents on Ripley Town Centre, the only designated
sub-regional shopping centre planned to serve the Ripley Valley Priority Development Area. Sekisui House engaged us 2 years ago with the mission of leasing the balance of Stage 1 and provide advice on their Stage 2 that is planned in the years to come. The site was marketed for sale and it is expected to transact later this year with the new owners planning to further expand on the legacy built in Ripley by Sekisui House.
The centre is surrounded by a number of infrastructure and residential developments aiding one of the fastest-growing populations in Queensland with approximately 20 active residential developments in the area. The strongest period of growth for Ripley is set to be between 2021 – 2026 when it's projected to increase by 20.1% per year.
We have witnessed strong performance with the centre reporting a consistent increase in foot traffic of 14% in the last 12 months, directly increasing sales volume at the centre.
Stage 2
Stage 2 will offer a second full-line supermarket, a tavern and a range of retail specialty stores totaling approximately 8,000 sqm of retail space.
Expertise and Strategic Vision Combined with Market Understanding
Alma Property has a strong track record of transforming shopping centres into thriving retail destinations. Proactive strategies and deep market understanding continue to drive growth and success across our portfolio. Alma Property remains committed to creating vibrant, prosperous communities that benefit retail asset owners and retailers.
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