A rare opportunity to transform the heart of Canungra in Southeast Queensland has arisen with the listing of a 8.71 hectare development site that has approval for a neighbourhood shopping centre including a supermarket.
Canungra Central Development Site has DA approval for a 2,564 square metre neighbourhood shopping centre consisting of a 2,036 square metre supermarket and two retail specialty tenancies, with passing income from existing tenants on Christie Street including Aquis Farm, El Social Café, Voyager Wealth, Scenic Road, Live Fit Gym, Catherine’s Beauty Room, Canungra Hairdressing and The Butchery.
As per the local centre zoning, the large site has the potential (subject to council approval) to include a shopping centre, food and drink outlet, function facility, hardware and trade supplies, health care services, hotel, showroom, childcare centre, community use and other uses and activities that integrate and enhance the local centre, for example residential use.
A 100% interest in Canungra Central Development Site is being exclusively offered for sale via an Expressions of Interest (EOI) campaign by the Colliers Queensland team of Brendan Hogan, Steven King and Harry Dever.
Hogan said the flexible zoning of this site provided investors, owner occupiers and developers with a wide array of repositioning and development opportunities. “Canungra Central Development Site offers a landmark opportunity poised to transform the heart of Canungra with a wide array of opportunities under favourable zoning.
“It is a truly unique landholding, providing scale in a market where there is immense scarcity of development sites. Canungra is a growing community that is experiencing significant residential activity and growth, there are circa 600 residential lots within Canungra either under construction, planned, or in DA application creating a strong demand for high quality retail offerings that will potentially support about 5,000 residents of the Canungra district.”
King said this strategically positioned mixed-use site is located in the heart of the thriving Canungra community in the Gold Coast Hinterland. “Canungra Development Site sits within the retail and commercial precinct primarily positioned along the arterial road, capturing the high volume of traffic and easy accessibility.
“Located only 30 kilometres from the Gold Coast, the site is positioned along arterial Beaudesert Nerang Road, servicing over 57,500 cars weekly and providing connecting access to the Gold Coast, Beaudesert, Tamborine, and other inland Southeast Queensland suburbs.
“The favourable zoning provisions and strategic location make it an ideal investment for developers, investors, and owner-occupiers looking to capitalize on the area’s strong forecast population growth and tourism activity.”
Dever said Canungra was an underserviced retail catchment, with a small IGA the only supermarket in the catchment and the nearest competing major supermarket over 13km away. “Canungra has become the main service centre for the south-eastern part of the Scenic Rim region, it serves a growing community, plus military personnel from the nearby Kokoda Barracks. Canungra is also home to a burgeoning wine industry and state-of-the-art equine facilities.”