Capri on Via Roma: Vietnamese-linked company buys Surfers Paradise shopping centre for $85m

One of the Gold Coast’s best-known shopping centres has sold for an astonishing amount of money in the latest twist in its history. Its new owners can be revealed. FIND OUT MORE

One of the Gold Coast’s best-known shopping centres has sold to a Vietnam-linked company for more than $85m.

Sanctuary Cove owner Mulpha Australia has sold the Capri on Via Roma complex to Capri Holdings GC in an off-market deal brokered by Colliers.

Company records show Capri Holdings was registered in Sydney earlier this year and is controlled by Vietnamese figures Thi Tam Tran, 40 and Thao Thu Hoang Nguyen, 45.

Property records show Mr Nguyen lives at a Southport address.

Harry Bui, Colliers’ Asia market head, negotiated the sale with his colleague, director-in-charge Steven King and there was strong interest in Gold Coast commercial property from investors worldwide.

The Capri on Via Roma shopping centre on the Isle of Capri, Gold Coast, has sold for $85m

“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,” he said.

“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.

“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.”

Capri on Via Roma. Picture: Supplied

Capri on Via Roma last changed hands in 2022 when it was sold to Mulpha by Sydney businessman Simon Harvey’s Beaugroup for $70m.

Mulpha’s interest in the complex did not last long, with the company putting it on the market in early 2024.

The three-building complex has 53 tenancies, anchored by Harris Farm Markets and the Edgewater restaurant. It is 96 per cent leased.

Mr King said the complex, which was most recently redeveloped in 2013, offered value for buyers.

“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,” he said.

“Achieving a gross lettable area rate of $12,473 per sqm and an initial yield circa 6 per cent, 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.”