Richlisters' $400m 18-month buy-out as iconic surf spot snapped up
Hugely popular beach site The Strand Coolangatta – located opposite the world-renowned surf spots Snapper Rocks and Kirra – is the latest of four deals totalling $400m signed off by investment fund manager Alceon, which invests a whopping $5.3 billion on behalf of richlisters and family firms in Australia.
'Super creepy': Mysterious Aus 'old haunted house' for sale
MORE: Govt pays $3.3m for unliveable derelict house
Cash-strap student turns $40k to 38 homes
It partnered with Aktiv – their second pairing – on the Coolangatta buy-up to the tune of $142m.
The pair have plans to put in a major upgrade to the Gold Coast beach front shopping centre to keep pace with the rapidly luxurious nature of real estate and residents across the area.
The Strand is currently a 30,000sq m mixed-use and lifestyle space with over 200 metres of uninterrupted beach frontage, anchored by Woolworths, Cinebar and Timezone with 20 office tenants and 63 specialty shops drawing both tourists and locals alike.
Alceon also picked up the Smithfield Shopping Centre in regional QLD, 40 Tank Street in Brisbane's CBD, and the Mount Gravatt-based ATO building in the last 18 months in its bid to capitalise on Queensland's robust population and housing price growth.
MORE: NRLW's youngest captain defies odds
The deal brokered by JLL is expected to be completed in August, with JLL head of national retail investments Sam Hatcher saying 'for the first time, FY25 data indicates that Institutional Capital, Syndicates, and private investors each hold approximately 33 per cent of the transaction market share'.
'The sale of The Strand exemplifies the trend of syndicators acquiring well-located shopping centres with strong distribution potential and value-add opportunities, though such properties are becoming scarce as competition intensifies across retail sub-sectors.'
Alceon's Queensland founding partner Todd Pepper was 'pleased to have picked up another prime asset on behalf of family office and high-net-worth investors for our Queensland real estate equity portfolio'.
The firm targets properties with high-quality, stable tenants, and locations with significant foot traffic.
'Queensland in particular offers a highly attractive investment setting for us due to its efficient government and regulatory processes and strong growth prospects,' he said.
'The state has experienced robust population and housing price growth led by a constant period of positive migration' which he said would be supplemented by the upcoming 2032 Brisbane Olympics.
Aktiv managing director Olivier Sicouri said The Strand in Coolangatta was a unique property in an iconic location.
'It presents a rare opportunity to acquire an asset of this scale well below replacement cost in a location like this, particularly given that it is expected to grow and gentrify and faces limited competition risk, due to prohibitively high construction costs.'
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Daily Telegraph
an hour ago
- Daily Telegraph
Penthouse shoots for Sydney coastal suburbs record
It has been billed as the most exclusive and prestigious offering Bondi has ever seen, perched on the oceanfront and connected to the coastline. Meet Pearl Bondi the $150m project just approved for Bondi's peninsula cliffside with north-east aspect, elevation and comprising a clutch of seven luxury homes aimed at established eastern suburbs families and downsizers. And Pearl's creator, top Sydney builder developer Central Element is set to rewrite Bondi's property history with the highly anticipated release of the Pearl Penthouse – the pinnacle of the project. Set to become the coastal suburbs most exclusive and high-end residence to date, with an asking price of $30m, the ultra-luxurious apartment is expected to smash the suburb record. The previous record was $24m in 2022, for Multiplex heir Andrew Roberts' 190sqm apartment in Notts Ave, Bondi Beach. The price equated to $126,000 per sqm. MORE: Waterfront deal falls over, then sells for $2m less The 328sqm penthouse offers four bedrooms, 3.5 bathrooms and a 17m east-facing frontage with uninterrupted ocean views. Central Element managing director Nathan Chivas expects Pearl to be popular. 'At its heart is the Pearl Penthouse, the most luxurious and prestigious offering the suburb has ever seen,' Mr Chivas said. 'Every element – from the 17‑metre frontage to the timeless interiors – has been crafted to create a sanctuary that connects deeply with Bondi's coastal energy. 'It's a hidden treasure revealed only to a privileged few and we expect demand for the Pearl Penthouse to reflect the rarity of what's on offer.' Central Element has gathered talented architects, landscapers and interior designers to create Pearl Bondi, which consists of two houses fronting Sandridge St and five apartments cascading towards the coastline with access to Wilga St. Three apartments are whole-floor residences with expansive terraces while the two ground floor apartments will each have a private pool. The Torrens-title houses will also have their own private plunge pools, outdoor entertaining space and wide ocean views. One has, facing north has a traditional layout with bedrooms upstairs while the southern house has the upper level dedicated to living and dining with two balconies capturing the view. The ultra-luxury project has been designed by award-winning architects MHNDU and the homes will share almost 500sqm of landscaped communal space as well as having their own external areas – up to 86sqm. The site is more than 2000sqm in a tightly-held pocket between Bondi and Tamarama with direct access to the coastal walk. Madeleine Blanchfield, of Madeleine Blanchfield Architects, has been engaged to design the interiors of the seven homes. She is well-known and highly sought after in the Eastern suburbs. 'Our design approach for Pearl will be centred on quiet luxury and refined simplicity – using natural materials, light and texture to create homes that feel timeless, grounded and intimately connected to their coastal surrounds,' she said. Materials such as travertine, American oak, Patagonia Pink quartzite and brushed stainless steel are all on the Pearl palette. Kitchens have stone island benches and Sub-Zero and Wolf appliances are included. Construction on Pearl Bondi will begin in the spring of this year and completion is planned for late 2027. Central Element has already broken suburb records in Sydney's east. Last year in Coogee it made a $20m off-market sale for a three-bedroom penthouse at Ballamac House.
ABC News
2 hours ago
- ABC News
Half disclosure
And now we turn to the pages of the financial press where, in a bid to fatten our wallets, Australia's business barons have been doling out market intelligence: There are clear reasons for a more bullish sentiment to take hold in private capital investment in 2025. - The Australian Financial Review, 20 March 2025 Rightio then … … prudent investors recognise that today's investments form the bedrock for tomorrow's portfolio health. - The Australian Financial Review, 20 March 2025 And in a stroke of great fortune, the AFR's correspondent happens to be one such prudent professional investor who's just a click away via this helpful link. In fact, The Australian Financial Review's 'Industry Insight' column is a veritable well of wisdom drawing as it does right from the source. Last month it warned not to be left behind by the AI revolution: … for those prepared to adapt, complexity is not a threat; it's a chance to thrive. … this is the moment to shift gears. - The Australian Financial Review, 25 June 2025 And as luck would have it, our scribe just so happened to work for an IT consultancy—no doubt happy to muck in and help. Two weeks earlier, the AFR sounded the alarm on underinsurance: In a worst-case scenario, investors may have to sell their property … - The Australian Financial Review, 12 June 2025 And a handy thing it was, that the author happened to work for a company that flogs insurance. And on it goes. The booming Asia Pacific market, by fundies who specialise in the Asia Pacific market. Electric vehicle subsidies by the CEO of an electric vehicle manufacturer. And the very many advantages of real-time banking rendered into poetry by a real-time banker. So why on earth is Australia's premier financial rag printing columns which read like advertising dross? I'll give you one guess. Because that's what they are. 'Industry Insight' might have done little to help readers make coin, but they have certainly been a nice little earner for the AFR. And how do we know? Because open 'Industry Insight' on the AFR's website and the sponsorship is plain as day. A mere oversight, I hear you say? The Fin's poor harried subs too busy to scratch themselves let alone lay-out a proper disclosure in print. Just one problem with that theory, because for all of 2021 and 2022 The Australian Financial Review clearly marked its 'Industry Insight' feature as sponsored content, allowing readers to choose whether to read the balderdash or turn the page and find some real news instead. But from about August 2023, the disclosure mostly disappeared. Now, could it be that ads disguised as genuine articles might be better read? 'Not at all', we were assured by Nine. A spokesperson for the paper said it was a mere: … unintentional discrepancy in content published in some print editions of the AFR. We have reviewed our operational processes with the commercial team to help ensure it doesn't happen again. - Email, Nine Spokesperson, 25 July 2025 Just some print editions? Try almost two years' worth. But with its half-pregnant disclosures, perhaps we shouldn't be too harsh. After all, the AFR is all about squeezing the lemon consciously or otherwise and what better than passive income!
News.com.au
4 hours ago
- News.com.au
Penthouse shoots for Sydney coastal suburbs record
It has been billed as the most exclusive and prestigious offering Bondi has ever seen, perched on the oceanfront and connected to the coastline. Meet Pearl Bondi the $150m project just approved for Bondi's peninsula cliffside with north-east aspect, elevation and comprising a clutch of seven luxury homes aimed at established eastern suburbs families and downsizers. And Pearl's creator, top Sydney builder developer Central Element is set to rewrite Bondi's property history with the highly anticipated release of the Pearl Penthouse – the pinnacle of the project. Set to become the coastal suburbs most exclusive and high-end residence to date, with an asking price of $30m, the ultra-luxurious apartment is expected to smash the suburb record. The previous record was $24m in 2022, for Multiplex heir Andrew Roberts' 190sqm apartment in Notts Ave, Bondi Beach. The price equated to $126,000 per sqm. The 328sqm penthouse offers four bedrooms, 3.5 bathrooms and a 17m east-facing frontage with uninterrupted ocean views. Central Element managing director Nathan Chivas expects Pearl to be popular. 'At its heart is the Pearl Penthouse, the most luxurious and prestigious offering the suburb has ever seen,' Mr Chivas said. 'Every element – from the 17â€'metre frontage to the timeless interiors – has been crafted to create a sanctuary that connects deeply with Bondi's coastal energy. 'It's a hidden treasure revealed only to a privileged few and we expect demand for the Pearl Penthouse to reflect the rarity of what's on offer.' Central Element has gathered talented architects, landscapers and interior designers to create Pearl Bondi, which consists of two houses fronting Sandridge St and five apartments cascading towards the coastline with access to Wilga St. Three apartments are whole-floor residences with expansive terraces while the two ground floor apartments will each have a private pool. The Torrens-title houses will also have their own private plunge pools, outdoor entertaining space and wide ocean views. One has, facing north has a traditional layout with bedrooms upstairs while the southern house has the upper level dedicated to living and dining with two balconies capturing the view. The ultra-luxury project has been designed by award-winning architects MHNDU and the homes will share almost 500sqm of landscaped communal space as well as having their own external areas – up to 86sqm. The site is more than 2000sqm in a tightly-held pocket between Bondi and Tamarama with direct access to the coastal walk. Madeleine Blanchfield, of Madeleine Blanchfield Architects, has been engaged to design the interiors of the seven homes. She is well-known and highly sought after in the Eastern suburbs. 'Our design approach for Pearl will be centred on quiet luxury and refined simplicity – using natural materials, light and texture to create homes that feel timeless, grounded and intimately connected to their coastal surrounds,' she said. Materials such as travertine, American oak, Patagonia Pink quartzite and brushed stainless steel are all on the Pearl palette. Kitchens have stone island benches and Sub-Zero and Wolf appliances are included. Construction on Pearl Bondi will begin in the spring of this year and completion is planned for late 2027. Central Element has already broken suburb records in Sydney's east. Last year in Coogee it made a $20m off-market sale for a three-bedroom penthouse at Ballamac House.
