Mulpha banks $85.5m for Gold Coast mall
Mulpha International Bhd has sold the Capri on Via Roma convenience and lifestyle entertainment complex after three years.
The Malaysia-backed asset manager and developer banked $85.5 million from a private entity, Capri Holdings GC, directed by Vietnamese born, Gold Coast local businessmen, Thi Tam Tran and Thao Thu Hoang Hguyen – a deal announced February.
On 1.12 hectares including a 583 square metre marina, the asset contains 6780 sqm of lettable across three buildings.
Anchored to Harris Farms, the weighted average lease expiry by area was 5.4 years when it was listed 14 months ago.
This pocket of Surfers Paradise is about 1.5 kilometres south of Cavill Avenue
Capri on Via Roma
Developed in 2013, Capri on Via Roma contains two mini major tenancies, 24 specialty stores, four kiosks and 16 office suites.
There are also 170 car parks – part on a 2888 sqm plot zoned Medium Density with a scheme for 11 townhouses.
Mulpha paid $70m in mid-2022 – a 5.13 per cent yield.
Stonebridge’s Phil Gartland and Carl Molony, which brokered that deal, negotiated the latest too, with McVay Real Estate’s Sam McVay and Dan McVay.
Also today we are reporting Melbourne businessman Paul Solomon has sold Miami’s ex-Nobby Outlook, now a resort, Nalu, for triple what he paid eight years ago.
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