Billionaire offloads major Gold Coast retail asset in $152.5m deal

A savvy $68 million shopping centre investment has delivered a billionaire more than double his money in what agents call 2025’s strongest retail transaction.

Southport Park Shopping Centre on Ferry Rd.

Billionaire John Van Lieshout has offloaded one of his major retail assets which is one of only 10 triple supermarket anchored neighbourhood shopping centres in Australia.

Charter Hall has acquired Southport Park Shopping Centre for $152.5m, which agents claimed was one of the strongest subregional shopping centre transactions nationally in 2025.

JLL’ struck the deal on behalf of JVL Investment Group – which is Mr Van Lieshout’s property investment vehicles – after 17 years of private ownership.

Mr Van Lieshout purchased the property at 163–175 Ferry Rd, Southport, for $68m.

In 2018 JVL developed a large-scale expansion and refurbishment of the shopping centre.

The project included adding a new Coles supermarket, a new alfresco dining precinct, and reconfiguring the centre to create a “one-stop shop” with an emphasis on food, fashion, and convenience.

This expansion ensured the shopping centre, just 2.7km north west of Surfers Paradise, was triple anchored with a Coles, Woolworths, and Aldi, along 40 retailers and a separate village centre with 17 office and retail tenancies.

Its prominent 6.5ha mixed-use zoned corner site fronts major arterials Benowa and Ferry roads.

Charter Hall retail chief executive Ben Ellis said it was a high quality asset in the heart of the growing Gold Coast.

“The convenience centre benefits from its triple supermarket anchors and offers future value add opportunities given low site coverage,” he said.

“This acquisition continues the successful growth of our $2.5bn Charter Hall Convenience Retail Fund, focused on high-performing neighbourhood shopping centres anchored by non-discretionary retailers.”

Southport Park Shopping Centre on Ferry Rd.

The off-market campaign was led exclusively by JLL’s Jacob Swan and supported by team members Ned McKendry and Will Morris.

Mr Swan said the centre’s fundamentals and location reinforced its appeal.

He said the sale price of $7620/sqm places Southport Park among the strongest subregional shopping centre transactions nationally in 2025.

“Southport Park represents an outstanding opportunity in the Gold Coast market as one of the last remaining traditional single-level subregional shopping centres within the inner-metropolitan ring,” Mr Swan said.

Southport Park Shopping Centre is underpinned by a strong 98 per cent centre occupancy rate and a weighted average lease expiry of 5.2 years by area.

“The transaction highlights the sustained strong demand we are observing for subregional shopping centres underpinned by robust population growth in key metropolitan markets,” Mr Swan said.

“Institutional capital is dominating in the subregional shopping centre sector after an extended period in which larger players had been predominantly sellers.

“Metropolitan retail assets with land-rich holdings and clear value-add potential remain highly sought after, as they provide buyers with confidence in long-term income growth.”

Originally published as Billionaire offloads major Gold Coast retail asset in $152.5m deal