Victorian restaurant chain Dosa Hut is continuing to expand its presence in other states, securing premises for its first restaurant on the Gold Coast, amid surging demand for retail premises in the city.
The South Indian cuisine chain has secured a five-year lease over a 165 sqm store at Molendinar’s Crestwood Plaza, according to Knight Frank’s associate director of retail leasing, Tanaka Jabangwe.
“The tenant had been wanting to establish a presence on the Gold Coast for some time but was looking for the right space and this Molendinar shopfront ticked all the boxes,” Mr Jabangwe said.
“Dosa Hut were seeking a central location in a suburban catchment with ease of access to major road networks, and Crestwood Plaza fit the bill on every aspect.
“The convenience centre is situated on Olsen Avenue, which is a very busy thoroughfare with plenty of traffic passing estimated at circa 57,000 cars daily, which offered great exposure for the restaurant.”
Knight Frank quoted a spokesperson for the restaurant chain as saying this would be its 20th outlet in Australia.
“Crestwood Plaza offered a perceived geographical centre to service both the northern catchment and parts of southern Gold Coast with ease,” a spokesperson said.
“We are confident in our food and believe the Gold Coast will appreciate the quality, authentic Indian food we have on offer.”
In addition to its 11 Melbourne restaurants, Dosa Hut has expanded interstate with eateries in Canberra, the Sydney suburb of Harris Park as well as three across Brisbane.
Dosa Hut has been contacted for comment on its broader growth plans and also whether it has appointed contractors to manage the fitout and launch of the new Gold Coast restaurant.
Commonwealth Games drives demand for space
According to Mr Jabangwe, last year’s Commonwealth Games has led to a surge in the number of businesses looking to secure space on the Gold Coast.
“After the Commonwealth Games, we’ve seen an increase in enquiry from established operators seeking high-profile positions across the city,” he said.
“There has also been an increase in Asian cuisine offerings and national chains in strategic shopping centre positions, particularly through the northern suburbs of the Gold Coast.
“High-end food and beverage offerings have predominantly been focused around the traditional premium precincts of Surfers Paradise and Broadbeach, with a surge in demand for southern Gold Coast positions between Mermaid Beach through to Palm Beach, but there is also plenty of demand from other operators for other suburban areas of the Gold Coast.”
Mr Jabangwe said that suburban areas of the Gold Coast tend to be less seasonal than the holiday-driven city and beachfront markets, allowing businesses to capitalise on a more constant and stable population.
“Dosa Hut believe local community engagement is paramount to their success and this was one of the key reasons why the first store had to be in a central suburban area,” he said.
Adam Zuchetti is the editor of My Business, and has steered the publication’s editorial direction since early 2016.