Trophy Coles-Anchored Retail Investment Opportunity Hits the Market on Sydney’s Prestigious Lower North Shore 

Colliers and CBRE are proud to bring Mall 88 to market, a recently completed, trophy Coles-anchored neighbourhood shopping centre located in the heart of St Leonards on Sydney’s affluent Lower North Shore. The sale is being managed by Colliers’ James Wilson and Matthew Meynell, in conjunction with James Douglas and James Sherley from CBRE. 

Mall 88, a premier retail destination in the heart of the St Leonards CBD, is redefining the shopping experience in Sydney’s Lower North Shore. Strategically located just 5 km from the Sydney CBD, this iconic mixed-use precinct was recognised as the Development of the Year at the 2023 Urban Taskforce Development Excellence Awards. Completed in March 2023, the Centre boasts an impressive 7,714 sqm of retail gross lettable area, anchored by a 4,054 sqm full-line Coles supermarket and Liquorland on a rare 15-year lease expiring in 2038. As the largest supermarket footprint in the local catchment, Mall 88 is a go-to destination for daily needs. With 22 specialty retailers, the Centre offers a shopping experience that caters to the local community.  

“Mall 88 is a trophy Sydney metropolitan neighbourhood shopping centre anchored by a rare 15-year Coles lease (exp. 2038), delivering significant scale and income security in one of Sydney’s most tightly held urban precincts,” said James Wilson, Head of Retail Middle Markets at Colliers. “Opportunities of this calibre are rare, offering investors an essential-service and daily-needs income profile with long-term security.”  

Mall 88 boasts exceptional transport connectivity, with direct underground access to St Leonards Train Station via a pedestrian tunnel servicing over 6.5 million commuters annually. Its proximity to the newly opened Crows Nest Metro Station (just 500 metres away) is forecast to attract approximately 6.2 million annual passenger movements. This connectivity provides seamless access to major Sydney CBD hubs, including Barangaroo, Martin Place and Central Station. 

“Mall 88 sits at the core of JQZ’s transformative mixed-use precinct, directly integrated with 637 residential apartments above the Centre and an adjoining A-grade office tower,” said Matthew Meynell, Managing Director, Capital Markets & Investment Services at Colliers. “St Leonards is undergoing rapid urban renewal, with over 5,200 new dwellings in the development pipeline. Notably, more than 1,000 apartments are currently under construction in South St Leonards alone, reflecting the precinct’s accelerated transformation. Coupled with exceptional rail and metro infrastructure, this growth underpins long-term retail demand and visitation.” 

The surrounding Primary Trade Area is forecast to grow at approximately 5% per annum, three times the Sydney average, with total retail expenditure projected to reach $2.53 billion by 2046. The Centre’s location within a vibrant civic precinct featuring a new public library and Wadanggari Park further enhances its community appeal, foot traffic and spending. The 4,750 sqm Wadanggari Park features a lawn, plaza, and a regional-scale children’s playground. The design reflects best practice in landscape urban design and safety and is seamlessly connected to Mall 88.  

James Douglas said, “Mall 88 offers an investor the opportunity to acquire a securely leased major neighbourhood shopping centre within metropolitan Sydney. The Centre’s sales and return potential will benefit from the major population and sales growth of its rapidly growing catchment, set to accelerate as the residential development market strengthens.”  

“Mall 88 occupies a premier position in the heart of the St Leonards CBD, one of Sydney’s most tightly held markets with significant barriers to new supply,” said James Sherley, Senior Director, Retail Capital Markets – Pacific at CBRE. “Its diverse tenancy mix, coupled with integration into new civic spaces and public amenities, enables Mall 88 to capture both daytime and evening trade, creating a vibrant retail hub for residents, workers and commuters.” 

Mall 88 exemplifies premium build quality and placemaking excellence. As part of a thriving live-work-play environment, the broader precinct features high-end residential apartments, an A-grade commercial tower and integrated public amenities. This creates a vibrant community hub that sets a new benchmark for urban retail. 

The EOI campaign for Mall 88 closes at 2:00pm (AEST) on Wednesday, 3 September 2025.