LEASED | 41 James Street | Retail Repositioning Case Study

In December 2025, Alma Property was approached by Burleigh Heads Language School, a successful business that had operated from 41 James Street for approximately seven years. While the business had performed well from the location, the rental pressure within this prime James Street position was no longer the right fit for the tenant moving forward.

Recognising the site’s high-profile exposure and strong retail fundamentals, Alma Property saw an opportunity to reposition the tenancy to a higher and better use for the landlord, while also assisting the outgoing tenant in reducing their ongoing liabilities. Prior to negotiating the lease surrender, Alma Property proactively took the property to market over the Christmas and New Year period, generating strong interest from a range of national retailers.

By February 2026, Alma Property had successfully secured Ganda Clothing, a well-known national retailer, for the tenancy. Following the execution of the new lease agreement, the surrender of the existing lease was finalised, ensuring a seamless transition with no downtime for the landlord.

The result was a strong outcome for all parties involved. The landlord secured a premium national retailer, the incoming tenant gained a high-profile flagship position, and the outgoing tenant was able to significantly reduce their remaining lease exposure.

“Alma Property managed the process strategically from start to finish, creating a smooth transition for all parties involved while maximising the outcome for the asset.”

If you are looking to reposition a retail asset, secure stronger tenants, or unlock hidden value within your property, the team at Alma Property would welcome the opportunity to assist.