The Gold Coast is shaping up as the country’s hottest retail market, led by headline sales like Riviera Plaza in Sorrento, which recently changed hands for $8.525 million on a sharp 4.93 per cent yield – the tightest yield for a Queensland retail centre in 2025.
Anchored by Roy’s by Gemelli and positioned on a prominent 2,258sqm island site, the 622sqm retail plaza was originally taken to auction in July 2023, generating 276 enquiries.
With rate hikes creating uncertainty at the time, the owners opted to hold. By early 2025, with turnover rent stabilised and income further increased, Ray White Retail introduced a private Queensland investor and negotiated the sale off-market.
“This transaction highlights just how deep the buyer pool is for well-located retail on the Gold Coast,” said Lachlan O’Keeffe, joint MD of Ray White Retail.
“The purchaser was eager to buy in the region and Riviera Plaza offered a solid income profile, strong tenant line-up and a premium location.”
Founder of Twenty Six Street, Rick McLaren, said the sale was the culmination of long affiliation with the asset, “I grew up around the corner from Riviera Plaza, and after purchasing the property in 2020 were able to transform it from a neglected block of shops to a vibrant retail precinct, and a great asset for the community. We’re proud of the result and look forward to delivering further projects on the Gold Coast”.
Private investors driving Gold Coast retail boom
Demand from private investors has continued to surge for Gold Coast retail, which has seen Ray White Retail sell in excess of $36.8 million worth of assets in the region.
Among the standout sales, IGA Tugun achieved a record 3.94 per cent yield, the tightest yield ever for a Queensland supermarket. Another retail centre recently marketed on the Gold Coast by Ray White Retail has also attracted more than 510 enquiries during its campaign, highlighting the depth of buyer demand for the region.
“Most of the enquiries we’re seeing are from private investors, especially those based in Sydney & Melbourne,” said Michael Feltoe, joint MD of Ray White Retail.
“They’re focused on markets with strong fundamentals with long-term growth, and this is fueling the red-hot Gold Coast market ”
Want more buyers and more competition for your shopping centre? Get in touch with Ray White Retail today – Australia’s leading investment sales team.
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