One of Australia’s most luxurious hotel and retail precincts set to break ground early next year

Renowned top global luxury brands are being sought for 17 retail tenancies at a new $480 million waterfront Ritz-Carlton retail precinct on the Gold Coast, set to open in 2027.

Construction of the prestigious development at the Main Beach Superyacht Marina – set to be one of Australia’s most luxurious hotel and retail precincts – will begin early next year.

Located at the northern end of the Gold Coast, the Main Beach Superyacht Marina will span 4ha at 60-70 Sea World Drive, Main Beach.

The $480 million development will be the first Australian hotel that includes a superyacht marina. Picture: realcommercial.com.au

Colliers International have been appointed to lease approximately 6500sqm of premium retail space, and Queensland senior executive retail leasing Chloe Lonergan said there has been unprecedented interest from both Australian and international luxury brands in the retail and restaurant space.

“We are looking for high-end tenants who want to be part of what will be Australia’s most exclusive and luxurious hotel and the first Australian hotel that includes a superyacht marina,” she said.

“This will also be the Gold Coast’s first over water hospitality venue spanning across 1200sqm.

“Customers can arrive to the precinct by boat, helicopter, or car to enjoy the complete Ritz-Carlton holiday, retail and dining experience.”

Construction will start early next year with the precinct expected to open in 2027. Picture: realcommercial.com.au

In keeping with the Ritz-Carlton brand, a strong emphasis will be placed on locating the world’s finest upscale dining experiences, with Colliers running an Expressions of Interest campaign to secure the best high-end food and beverage tenants.

Developed by the Pelligra and Giannarelli Group, the Ritz-Carlton hotel will feature 153 luxury rooms, with luxury offerings including a rooftop pool, a day spa and an array of dining and bar options, in addition to the precinct’s luxury retail.

The 153-room luxury hotel will include a mix of high-end hospitality and retail options. Picture: realcommercial.com.au

Dion Giannarelli, director of Giannarelli Group, said breaking ground will take place in the latter part of Q1 2025 to bring “Australia’s finest luxury resort to life.”

Colliers Queensland executive retail leasing Lara Mitchell said the Ritz-Carlton Gold Coast ticked all of the boxes in providing a seamless luxury experience for visitors and guests.

“And with all eyes on the region as the Brisbane 2032 Olympics approach, we are seeing more luxury brands looking to establish themselves here,” she said.

Luxury brands are being sought for retail tenancies at the new Ritz-Carlton retail precinct on the Gold Coast. Picture: realcommercial.com.au

PropTrack economist Anne Flaherty said Ritz was a strong international brand – the most recognized hotel chain in the world.

“When people think of the Ritz, they do think of luxury, and of course, this location exudes luxury as well,” she said.

“Main Beach is a really beautiful pocket on the Gold Coast and we know that a lot of people are retiring into the Gold Coast and retiring into that Main Beach area.”

The state of Australia’s luxury retail market

The majority of growth in new store openings for luxury retail in Australia have been centred around burgeoning retail markets in major tourist destinations like the Gold Coast, according to Colliers International.

“Nationally, we are seeing a real scarcity for quality luxury retail locations, with demand and enquiry from both domestic and international brands at extremely high levels,” Colliers head of retail leasing Australia Michael Tuck said.

“Luxury retail locations are tightly held, and limited supply continues to drive demand, which is why this is such a great opportunity to get in early to what will be one of Australia’s most exclusive locations.”

Ms Flaherty said short term visitor arrivals have made a strong comeback post-pandemic, and of those who spend within the luxury retail space, many were tourists.

“We definitely saw the loss of tourism during the pandemic have a really big impact on the luxury retail space. Particularly, we know that a lot of income for that sector comes from the Asia market,” she said.

“And of course, China was delayed in opening its borders compared to a lot of other countries, but now we are seeing a lot of people from Asia coming to Australia, and the Gold Coast is one of the most popular destinations, and so that’s definitely supporting the recovery of the sector.”

The Mariners Cove precinct at Main Beach on the Gold Coast will be transformed into a new luxury hotel and marina. Picture: Getty

Ms Flaherty said Main Beach was one of the most exclusive areas on the Gold Coast, and attracted many high net-worth individuals who might not be affected by broader economic factors that are decreasing discretionary spending for a lot of the Australian population.

Meanwhile, a CBRE Luxury Retail Australia report revealed Australia’s luxury retail market has demonstrated resilience and steady growth across the past five years.

It cited an IBISWorld report which found that last year, Australia’s luxury retail trade reached a record $6.2 billion.

“Prime retail locations in major Australian cities and popular tourist destinations are likely to see increased demand from luxury brands seeking to establish or expand their presence,” the report stated.

“Landlords or high-end retail spaces can expect strong interest from luxury tenants, potentially leading to competitive leasing environments and stable or rising rental rates.”