Colliers has launched an expressions of interest campaign for The Lanes Retail Precinct at Mermaid Waters, a key component of The Lakes master-planned community now under receivership.
Appointed by Ankura as Receivers and Managers, Colliers agents Steven King, Matthew Meynell, Troy Linnane and Harry Dever are seeking new ownership for the 7.1-hectare site, the final stage of the broader $1 billion master plan.
Positioned on a prominent corner at Hooker Boulevard and Bermuda Street, the precinct already holds development approval for a curated 13,803 m² retail, dining and wellness hub designed to serve the surrounding Mermaid Waters catchment and broader Gold Coast market. A separate development application, lodged earlier this year, proposes three residential towers comprising 700 dwellings above a further 19,212 m² of non-residential space, including supermarket, gym, commercial and entertainment uses.
Steven King, Colliers’ Director in Charge for the Gold Coast, described the listing as a chance to “be part of a transformative story and shape the future of the Gold Coast.” He said The Lanes Retail Precinct represents “the missing piece of the broader master plan” and has the potential to become a landmark destination for both locals and visitors.
Colliers research indicates that the Gold Coast’s economy, with a gross regional product of $49.42 billion, continues to outperform Australia’s major capitals. The region’s residential market remains under pressure from population growth and construction bottlenecks, making large-scale, development-ready projects increasingly scarce.
Troy Linnane, Colliers’ Director of Residential Development Sites, said the listing is a rare opportunity amid constrained supply: “Like most markets nationally, it’s becoming increasingly difficult to meet demand for the residential and retail sectors as more projects face costly delays at the planning and construction stage. The Lanes Retail Precinct is a rarity in this market, a development-ready project primed to capitalise on the opportunities the Gold Coast presents.”
Retail interest has also been strong, according to Colliers Associate Director of Retail Middle Markets, Harry Dever, who said there is “strong pent-up demand from premium retail operators looking to anchor the precinct,” with anticipated interest from both national and local developers.
Offering exposure to more than 37 million annual vehicle movements and skyline views toward Broadbeach and Surfers Paradise, The Lanes Retail Precinct combines lakefront amenity with high visibility and accessibility.
Before entering receivership, The Lanes Retail Precinct site formed part of the ambitious The Lanes by Sunland Group project, envisioned as a vibrant lifestyle and entertainment destination within The Lakes master plan. Originally proposed by the now-defunct Gold Coast developer Sunland Group, the precinct was planned to feature sculptural twin towers, a lakefront dining boulevard, and a network of laneways inspired by European urban design.
The broader vision included residential towers, boutique offices, and a curated mix of retail and hospitality spaces designed by Contreras Earl Architecture. However, following Sunland’s decision to wind down its operations and divest its assets in 2022, the retail precinct remained undeveloped, eventually leading to the site’s appointment of receivers and managers in 2025.
Expressions of interest for the site close Wednesday, 19th November 2025.
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