Vinta sells Coolangatta’s The Strand
Sydney based developer Vinta has sold Coolangatta lifestyle centre The Strand 10 months after it hit the market.
The 30,000 square metre multi-level podium complex, 72-80 Marine Parade, is speculated to be trading for c$140 million to Alceon, also from Sydney.
“Including The Strand, there are only six institutional grade assets that are genuinely located within the Gold Coast’s core of the beach precinct,” JLL selling agent, Nick Willis, the agent with Sam Hatcher and Sam Linden, said.
“The other five assets are either privately held by intergenerational owners or institutions that have long term holds,” he added.
The property includes a hotel opened in 1911 also including George’s Paragon restaurant.
The retail component is anchored to Woolworths with a Cinebar cinema opened in 2023.
Another tenancy is Boardriders’ flagship store.
There is also 8900 sqm of commercial and office space, part occupied as the Coolangatta library.
The investment includes 664 basement car parks too.
More to come.
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