In a landmark $85.5 million off-market deal, Colliers has successfully brokered Capri on Via Roma, an award-winning convenience and lifestyle shopping centre, on the Gold Coast, to a locally based Asian private investor, Capri Holding GC Pty Ltd.
Located on a high-exposure gateway site at 15-21 Via Roma, Surfers Paradise, on the footstep of one of Australia’s most iconic lifestyle and tourist destinations, the 11,280m2 site configured over three modern buildings, was owned and managed by Mulpha Australia.
In a deal led by Colliers Head of Asia Markets Australia Harry Bui in collaboration with Gold Coast Director in Charge Steven King and Head of Retail Middle Markets James Wilson, the transaction reflects Colliers’ capability to connect premium Australian assets with high-calibre international capital.
“Capri on Via Roma’s unparalleled location and tenant mix made it an exceptional opportunity for an international family office looking to enter Australia with a flagship asset,” said Bui.
“This deal underscores the value of strategic negotiation and local-global collaboration. As new entrants continue to invest into the Australian market, the buyer recognised the unique character and long-term value of Capri on Via Roma – and was willing to secure such a high performing asset.
“This 96% leased trophy asset is anchored by the Gold Coast’s only Harris Farm Markets on a 12-year lease and is supported by 52 additional tenants including a vibrant artisan food market hall, waterfront restaurants, convenience and service retailers, and an established professional office precinct.
“Capri on Via Roma sets a new benchmark for retail on the Gold Coast and this transaction highlights the continued appetite from global and local private capital for flagship Australian assets that blend retail resilience with future development potential,” said Bui.
“This result reflects the strength of our cross-border network and the value of tailoring the sales process to reach the right capital. It’s a great outcome not just for the vendor and purchaser, but also for the Gold Coast market,” added Steven King.
“Achieving a gross lettable area rate of $12,473/m2 and an initial yield circa 6%, Capri on Via Roma is expected to benefit from continued growth in the Gold Coast’s residential, tourism and hospitality sectors, with nearby high-rise and hotel developments adding further momentum to one of Australia’s most dynamic coastal economies.”
“Capri on Via Roma’s result highlights the Colliers access to incredible depth of market from domestic and offshore private capital for modern high performing Neighbourhood Shopping Centres in strong metropolitan locations,” James Wilson said.
Constructed in 2013, Capri on Via Roma is a premier and award-winning convenience and lifestyle shopping centre occupying a high exposure and gateway site on the footsteps of Surfers Paradise, the Gold Coast’s primary residential and commercial hot spot and one of Australia’s most renowned tourist destinations.
Colliers Real Estate Management Services are also appointed to manage this premium asset.
Kate Strickland, Head of Retail Management said: “We are honoured to look after an asset rich in opportunity and the team look forward to working with the retailers, contractors and the new owners to bring new prospects for value enhancement”.
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