ResidentialWed 20 May 26
Benowa’s $1bn Village Proposal Wins City Planner Backing
The proposed $1-billion triple-tower transformation of a Gold Coast neighbourhood shopping centre into a high-density, mixed-use precinct has cleared a critical planning milestone.
Preliminary approval for the Benowa Gardens Shopping Centre masterplan has been recommended by the Gold Coast City Council’s planning committee ahead of a full-council vote on the project in two weeks.
The redevelopment plans reflect a broader strategic shift among landlords rethinking their under-utilised retail assets—in particular, with vertical ambitions tapping into critical housing demand.
Centre owner Patrick Lu said the project would reposition the 17,660sq m property —about 4km west of Surfers Paradise—as a “live-work-play” urban village.
He said gaining the planning committee’s support months of detailed planning, technical assessment and ongoing communication with residents, businesses, schools and stakeholders.
The masterplan proposal was lodged by urban planning consultancy Urbis on behalf of the proponents in March last year.
Under the proposed scheme, more than 400 apartments across towers potentially ranging from 10 to 17 storeys would sit atop a revitalised commercial hub comprising a 4000sq m supermarket, 6000sq m of specialty retail and dining space, a 7000sq m health and wellness precinct and 9630sq m of office and medical suites.
“We understand projects of this scale bring questions and concerns, which is why we have worked hard to listen carefully, provide information transparently and continue refining elements of the proposal where possible,” Lu said.
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“This proposal is about creating a genuine live-work-play environment.
“Our vision has always been to create a well-designed, community-focused urban village that responds to the changing needs of the Gold Coast, while delivering improved amenity, housing diversity, healthcare access and local lifestyle benefits.”
Urbis director Melissa Griffin said the planning committee recommendation aligned with broader strategic goals for South-East Queensland, which increasingly encourage “thoughtful, integrated growth” within established corridors already supported by infrastructure.
“The project seeks to place housing, retail, healthcare, and employment opportunities together in a highly accessible location,” she said. Ms. Griffin said, adding that the planning pathway involved deep technical assessment to ensure local feedback was integrated into the final design.
Built in the early 1990s, the Coles supermarket-anchored Benowa Gardens Shopping Centre features a 5856sq m gross floor area and 384 carparking spaces.
It is bordered by Carrara Street as well as Ashmore and Benowa roads—next to Benowa State School and Pindara Private Hospital.
The neighbourhood retail asset was acquired by a South-East Queensland private investment group in 2022 for $60.5 million. It was offloaded at a 50 per cent gross capital gain by Brisbane fund manager IJ Capital, which had secured it for $40.1 million from Stockland less than two years earlier.
The outcome of the full council vote on the project on June 2 is expected to be closely watched as a benchmark for how ageing suburban retail assets on the Gold Coast can be successfully transitioned into diversified, high-density urban precincts.
If the planning committee’s recommendation is ratified, the project—to be delivered in three stages—would move into detailed design and subsequent development applications filed.
