What are the key characteristics of Mooloolaba? Mooloolaba is one of the most popular lifestyle precincts on the Sunshine Coast, for both tourists and locals alike, due to its unique array of boutiques, plethora of dining outlets and perhaps its best asset, the beautiful ocean views and relaxing holiday atmosphere.
Located by the mouth of the Mooloolah River and facing the impressive expanse of the Coral Sea, it lies just south of Maroochydore’s Sunshine Plaza, however it offers a much more relaxed shopping and dining experience. The diverse range of eclectic boutiques make for a great alternative to the popular, yet more generic, brands available at the large shopping centres.
The area was originally a popular holiday spot, but it has grown renowned for its shopping, dining and café culture by day and a mecca for the young (and young at heart) by night, with plenty of bars and nightclubs. It is definitely the only place to be on New Year’s Eve. People come from far and wide, all year round to enjoy the pristine beachfront, whether it’s for a stroll along the Esplanade, a swim, or browsing the boutiques.
Are any international brands showing interest in the strip? Most of the international brands you will find along The Esplanade are selling coffee not clothes. Zara’s is by far the most famous of names on the strip, but this particular Zara’s is wholeheartedly local, having been established on the strip for 20 years, selling shoes and accessories.
You can still find the more easily recognised Just Jeans, Lorna Jane and Sunburn stores however local designers and importers tend to dominate and stock a more eclectic mix of both international and Australian designs. Boutiques such as LaVida are filled with classic and edgy pieces from Australia’s most talented designers, with labels such as Lucette, Rachel Gilbert, Talulah, Shona Joy and Uscari. While Youth Culture stock the popular MinkPink, Wish, Ladakh, Stussy, Bardot, G-star and Mollini brands.
What is the prime retail space on the strip? The Esplanade is the most sought after retail area due to its location overlooking the beach and also boasts many cafés and restaurants. The Wharf is also a popular space with its family entertainment and the area along Brisbane Rd and First Avenue is growing in popularity due to the scarcity of available sites on The Esplanade.
What are the demographics of the area? Mooloolaba itself has a population of around 13,000 people with an even split between males and females and 41% of these are aged between 25 – 54. It’s so popular with the tourists, however, that over 700,000 people visited Mooloolaba in the last 12 months, spending around $300 million in the process. This is not to mention the locals in the surrounding suburbs that come to enjoy the vibrant atmosphere.
The average family income is $1,127/week.
What do retailers pay to rent on the street? Retailers can pay anywhere from $600/m2 in the arcades up to $2,000/m2 for prime real estate fronting The Esplanade. For the less prominent but increasingly popular Brisbane Rd and First Avenue, you could expect a more reasonable average of $350- $450/m2.
How is the mix of retailers changing? As competition for positioning on The Esplanade drives rental costs sky high, we may see a potentially damaging monopoly of food retailers, as smaller boutiques find more cost- effective locations in surrounding streets. While this will broaden the precinct and add flavour to Brisbane Rd and the burgeoning First Avenue, The Esplanade will still need to retain a good mix of non-food related retailers to retain its popularity.
The Wharf is also an area to watch with more entertainment and refurbishment. As one of Mooloolaba’s oldest attractions, it’s been relatively quiet over the last few years, relying on a steady flow of tourists to the Underwater World. However redevelopment plans in terms of accessibility, streetscaping, parking, new paths and parks should see the old Wharf with a new lease on life.
Pandanus Property is the Queensland distributor for Leasing Information Services. Leasing Information Services is a Sydney-based independent online provider of retail leasing data in Australia. It offers rental comparisons, occupancy costs, floor plans and other customisable reports. Visit www.leaseinfo.com.au
