Adelaide billionaire Con Makris has spent $120 million on the Gold Coast in the past year and plans to spend more

WHAT do you do when you’re a multi-billionaire with a penchant for luxurious commercial property? Don’t give up until you own it all, of course.

Marina Mirage Shopping Centre was bought by billionaire Con Makris in April 2013.

ADELAIDE billionaire Con Makris has become the king of up-market shopping on the Gold Coast, paying $65 million for the retail and office precinct below The Oracle twin towers at Broadbeach.

The deal takes Mr Makris’s investment on the Gold Coast in less than a year to in excess of $120 million and he is hoping to spend more.

The Oracle retail precinct at Broadbeach.

Last April he paid $52 million for Marina Mirage, a centre laced with shops selling international labels.

He followed up by buying the ­marina at the front of the centre from receivers for $7.1 million.

The Oracle retail-office precinct also has been bought from receivers but only after many months of negotiation and after an early rebuff.

Ten months ago he made a $52 million offer for the centre but the lenders holding the debt on the property, who include Macquarie Bank, Deutsche Bank and Goldman Sachs, said “no”.

Mr Makris yesterday was elated at finally getting an Oracle deal over the line.

“I’m very excited — I now own the two best shopping centres on the Gold Coast,” he said.

Mr Makris also indicated there might be more buying ahead.

“I’m looking at another centre that I like but it might not come on the market until later this year.”

Marina Mirage Shopping Centre was bought by billionaire Con Makris in April 2013.

Mr Makris said the The Oracle twin-tower was probably the best ­development he had seen in a 45-year property career.

“It’s a great credit to developer Con Nikiforides — he’s done a magnificent job. It’s also a tremendous asset for the Gold Coast and has become a landmark.

“People in Adelaide who visit the Gold Coast talk about The Oracle when they get home.”

Mr Makris said The Oracle had four vacant shops but that he already had tenants lined up for them.

“People tend to follow you when they know how good you are at the ­retail business.

“Soon there won’t be any Oracle vacancies and I’ll probably need more shops.”

The marina purchased by Adelaide businessman Con Makris.

Mr Makris, who came to Australia at 16 and whose first business venture was a fish and chip shop, said the growth of his Gold Coast property portfolio meant he would probably split his time between the city and ­Adelaide.

“I’m also thinking of basing one of my sons on the Gold Coast full-time.”

Mr Makris and wife Carol have bought a condominium in the Palazzo Versace Hotel.