Gold Coast shopping centre hits the market with significant value add and development opportunities

The opportunity to acquire Ashmore City Shopping Centre, located on an expansive and scarce 2.86 ha corner site, is expected to attract strong interest from national and offshore groups looking to secure a prominent, established asset with significant value add opportunities.

CBRE’s Michael Hedger, Joe Tynan and Mark Witheriff have been exclusively appointed to manage the sale via an Expressions of Interest Campaign on behalf of a private family.

Located 4km east of the Gold Coast CBD within an established commercial hub, Ashmore City offers significant future development potential with the site capable of supporting retail, residential, and mixed‑use development.

Mr Hedger said, “This campaign is expected to generate strong engagement given the underlying land component that underpins the property already. Ashmore City offers flexibility for different buyer profiles as it offers opportunity for a full-scale mixed-use development as well as potential for genuine reversionary income upside via further reconfiguring and repositioning with the current planning framework offering multiple pathways given its favorable District Centre Zone.”

The property is strategically positioned on a high‑exposure corner site and has prominent frontage to Southport–Nerang Road and Currumburra Road, which are key north–south and east–west routes linking Ashmore with Southport, Nerang, Labrador and Benowa along with a four-way signalised intersection.

The income profile is diversified and resilient, with a strong representation of national and essential‑service retailers including Drakes Supermarket, Choice Discounters, Liquorland, Chempro Chemist, ANZ and Commonwealth Bank with over 8,770sqm of GLA.

Mr Tynan said, “Ashmore City’s estimated population within the Main Trade Area (MTA) is forecast to grow to 30,170 with retail expenditure expected to exceed $728m/35% by the year 2035 - while also generating particularly high visitations per capita from most residential areas within the MTA. The site is also located in close proximity to major employment, health and education assets, including Griffith University and the Gold Coast University Hospital.”

Mr Witheriff added, “We continue to field interest from a large developer pool seeking sites that can offer significant mixed use development schemes in the future like Ashmore City. The site has the potential to hold circa 220 units over two towers and can offer diverse residential products within an established urban location, providing residents with proximity to schools, transport, hospitals, and sporting amenities.”

The Expressions of Interest campaign will commence shortly with a closing date expected on Thursday 18th June 2026.