Alceon jointly acquires The Strand Coolangatta in its fourth recent Queensland deal
17 July 2025 – Alceon and Aktiv have agreed to acquire The Strand Coolangatta, a major Gold Coast beach front mixed use shopping centre, for $142 million. The deal marks Alceon’s fourth Queensland-based acquisition in 18 months and the 2nd with Aktiv over this time, as both firms capitalise on attractive investment opportunities in the sunshine state.
Alceon’s Queensland asset base has gained Smithfield Shopping Centre in Cairns, 40 Tank Street in Brisbane’s CBD, and the Mount Gravatt-based ATO building adding more than $400 million to its Queensland portfolio.
Located opposite the world-renowned surfing destination of Snapper Rocks and Kirra, The Strand occupies 30,000 square metres of mixed-use and lifestyle space, and more than 200 metres of uninterrupted beach frontage. It is anchored by Woolworths, Cinebar and Timezone and has 3 mini majors, 20 office tenants and 63 specialty shops.
The vibrant centre precinct draws residents and tourists alike, a testament to its close proximity to Gold Coast Airport and the upgraded road infrastructure linking it to the broader Gold Coast area and Brisbane. The Primary Trade area is home to a recent surge in luxury residential developments, reflecting its emerging status as a coveted coastal destination. Vinta Group, a private owner and developer, had The current owner has owned the property since 2001.
Todd Pepper, Founding Partner of Alceon’s Queensland business, said: “We are 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. Our investments have been underpinned by high-quality and stable tenants and asset locations that benefit from 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.
“The state has experienced robust population and housing price growth led by a constant period of positive migration. Supplemented by the upcoming 2032 Brisbane Olympics, we are excited by opportunities to acquire assets like The Strand, aligning with our investment philosophy and providing hands on management that benefits the local community.”
Olivier Sicouri, Managing Director at Aktiv said: “We are pleased to be working with Alceon again on another Qld deal. The Strand in Coolangatta is a unique asset. positioned in the heart of an iconic precinct which 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”
The transaction was brokered by JLL and is forecast to close in August 2025.
Additional Quotes:
Nick Willis, Joint Head of Retail Investments & Sam Hatcher Head of National Retail Investments at JLL:
Nick Willis said: “Opportunities to acquire large-scale and irreplaceable beach front shopping centres like this rarely become available. This uniqueness, coupled with the rapidly gentrifying surrounding demographics drove strong capital engagement from local and offshore investors.”
As we reach the halfway point in the year transaction volumes have just surpassed $5 billion, substantially above the prior 10-year 1H average of $2.7 billion. Whilst the volumes are at this level, the availability of on market opportunities remain tightly held, however we are anticipating increased transaction volumes in the back end of the year.”
Sam Hatcher said: “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.”
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