The photo of the entrance makes the store look very impressive, with the same bright and colourful inviting look that ToysRUs had (which Toyworld doesn't).
Unlike the Robina TRU store, which was outside the Robina Shopping Centre, the Toymate looks like it inside the shopping centre.
It's grand opening is this weekend (August 18-19), and even though it looks like it is trying to fill the void of TRU, this would have been instigated long before we heard that the Australian TRU stores were closing down.... and since the Robina TRU store was half a K from the shopping centre, this Toymate store wouldn't have been competing with it, or even fill its void now that it is gone.

I had the impression that Toymate prices were often similar to Toyworld, and since Toyworld never competed with ToysRUs or tried to match them on price, a new national player might not shake things up much... but it is good to see that they are looking to expand, which might give Hasbro more options with exclusives and collector figures. Toymate even have a Price Match policy, but it is hidden away as a small box on their loyalty program page (which itself sounds pretty good if you become a Gold Member).

I was surprised to see that they have 17 stores now.

(their website notes Robina in their 17 store roster, but still says that their 17 stores are in NSW)