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Image Credit Quality Resort Sorrento Beach
Goldfields Group has acquired the Quality Resort Sorrento Beach in a $31 million off-market transaction, with plans for future mixed-use development.
Goldfields Group has purchased the Quality Resort Sorrento Beach, consisting of 81 short-stay strata-lots, for $31 million in an off-market sale. The transaction was managed by CBRE’s Perth Associate Director Chloe Mason and Director Derek Barlow, representing 65 individual owners.
The property, located at 1 Padbury Circle in Sorrento, was developed in the late 1990s and has been used for short-stay accommodation. It features a 115-meter frontage on West Coast Highway and is situated on a 7,656 square meter landholding opposite Sorrento Beach, approximately 1 kilometer from Hillary’s Marina.
Goldfields Group intends to continue operating the hotel and has plans for a mixed-use development on the site, contingent upon the completion of rezoning.
