Mulpha divests Capri on Via Roma on the Gold Coast in an $85.5m deal

A Malaysian-backed investment company has sold an award-winning Gold Coast shopping centre for a $20m profit after just three years of ownership.

Capri on Via Roma, sold to a locally based Asian private investor.

A Malaysian-backed investment company has divested an award-winning Gold Coast convenience and lifestyle shopping centre for a $20m premium after three years of ownership.

A private investor, Capri Holding GC paid $85.5m for the Capri on Via Roma at

15-21 Via Roma, Surfers Paradise, after a deal struck by Colliers’ Harry Bui, Steven King and James Wilson.

They acted on behalf of the vendor Mulpha Australia – an investment vehicle controlled by Malaysia’s billionaire Lee family – which according to CoreLogic purchased the property for $65.5m in 2022.

Mr Bui 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.” he said.

Capri on Via Roma.

It was reported that Capri Holding GC is owned by Thi Tam Tran and Thao Thu Hoang Hguyen, were born in Vietnam but reside on the Gold Coast.

On a 1.1ha site on prestigious Isle of Capri, the property is 96 per cent leased and is anchored by the Gold Coast’s only Harris Farm Markets on a 12-year lease and is supported by 52 additional tenants including an artisan food market hall, waterfront restaurants, convenience and service retailers, and an established professional office precinct.

The sale achieved a gross lettable area rate of $12,473/sqm and an initial yield of about 6 per cent.

The neighbourhood and lifestyle centre spans a lettable area of 6780sq m over three modern buildings. It has a secure income profile with growth potential including a 5.4-year weighted average lease expiry by area.

Mr King said it was a great outcome not just for the vendor and purchaser, but also for the Gold Coast market.

“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,” he said.

Originally published as Mulpha divests Capri on Via Roma on the Gold Coast in an $85.5m deal