Fresh taste of Asia
THE landlord for the Hilton’s commercial precinct has engaged Brisbane entrepreneur David Wu to turn the struggling Cavill Lane into a foodie destination.
Mr Wu has signed on to bring his 8 Street Asian food precinct to Cavill Lane, part of the retail, office and dining precinct under the Hilton towers in Surfers Paradise.
He brought the concept to Westfield’s Garden City in Brisbane in 2014, where the fitout, designed to resemble a traditional hawkers’ market, has met with success.
The 4425sq m commercial area at the Hilton was purchased in 2016 by Denwol Group, headed up by Sydneybased property investor Phillip Wolanski.
Tenancies in Cavill Lane have proved difficult to fill in the past due to problems with wind and poor light in the corridor.
However, Mr Wolanski said he believes the 8 Street concept can work for Cavill Lane.
“Asian cuisine in all its variations has certainly embedded itself in Australian culture, and we expect 8 Street at Cavill Lane to become a very popular destination for local families and visitors,” he said.
“The precinct will offer a memorable experience of sharing delicious food amid wonderfully eclectic laneway surrounds.”
Under the terms of the deal struck, 8 Street will be the managing body for 2000sq m of space and 30 tenancies in the precinct – although tenants will sign leases directly with the landlord.
Tenants will pay upwards of $40,000 in annual rent for spaces ranging between 20sq m and 100sq m.
Leasing rates will include services to be shared by tenants such as food services, onsite management, customers seating areas, and marketing.
Existing Asian food outlets, including Yum Cha Noodle Haus, will remain on current lease terms.
Mr Wolanski said he wanted a range of Asian cuisine represented, from Chinese and Vietnamese through to Korean, Malaysian and Indian.
“We are seeking interest from food and beverage vendors representing a broad spectrum of regions across Asia, and have already had strong and abundant inquiry from a number of prospective tenants,” he said.
Mr Wu said 8 Street would be inspired by the “true Asian street-food experience”.
“We want to create a loud and bustling traditional hawkers’ market, where diners can wander among open kitchens and be drawn in by the sights and sounds, then watch as their dish is created before their eyes,” he said.
“It will be like stepping into Asia in the heart of Surfers Paradise.”
Knight Frank’s Lizzie Wheeler introduced 8 Street to the landlord.
Multimillion-dollar works are due to start in the next few weeks and the first stage is expected to open by December.