Receivers Seek Buyer for Panthera Gold Coast Retail Site

A landmark Gold Coast site earmarked for an ambitious $1-billion shopping centre and triple-tower residential complex has been put on the block.

Receivers have appointed Colliers to manage the sale of The Lanes retail precinct after the collapse of Panthera Mermaid, an entity linked to Sydney-based Panthera Group boss Mario Evangelo.

The 10.5ha Mermaid Waters site fronts a large man-made lake at the corner of Hooker Boulevard and Bermuda Street—one of the city’s biggest and busiest intersections.

It was acquired three years ago for $45.8 million from Sunland Group, which in 2017 had slated it for a $200-million, two-level retail, entertainment and lifestyle centre scheduled for a Christmas 2020 opening.

However, the plans were significantly scaled back in the wake of the pandemic and Sunland focused first on building four residential towers, which were completed.

Ground was never broken on the retail component and the site was sold to Panthera Mermaid, which subsequently also made moves to offload it in 2023.

But the saga took another turn in March this year with Panthera lodging a development application for bold new mixed-use plans—topped by a trio of towers rising up to 28 storeys and comprising 700 apartments—for the site.

Its proposal included 19,375sq m of retail and commercial space as well as a 4310sq m gym and wellness centre and lakeside amphitheatre.

▲ A rendering of the mixed-use development proposed for The Lanes site at Mermaid Waters.

“This is more than a mixed-use site—it’s a chance to be part of a transformative story and shape the future of the Gold Coast,” Colliers Gold Coast director Steven King said.

“The Lanes retail precinct is the missing piece of the broader masterplan for the precinct and offers potential buyers an enormous opportunity to create a landmark development that can leverage the sustained growth of the Gold Coast market.”

King and Colliers’ agents Matthew Meynell, Troy Linnane and Harry Dever are managing the expressions of interest campaign.

According to a Colliers statement, the site is being sold with an existing development approval in place “for a curated retail, wellness, dining and
entertainment precinct of approximately 13,803 sq m lettable area”.

Doubt was cast over the future plans for the site last month when Quentin Olde and Liam Healy of Ankura were appointed as receiver and managers of Panthera Mermaid.