Iconic Surfers Paradise Shopping Centre & Hotel Hits Market for First Time in over a Decade 

Paradise Centre and Novotel Surfers Paradise Offered in Landmark Sale at the Heart of Australia’s Tourism Capital 

Paradise Centre and Novotel Surfers Paradise, a landmark mixed-use asset in the heart of world-renowned Surfers Paradise, has been officially listed for sale. JLL and McVay Real Estate have been exclusively appointed to manage the divestment of this iconic Gold Coast property, which is expected to generate strong interest from both domestic and international investors. 

Prominently positioned opposite the famed Surfers Paradise Beach, Paradise Centre and Novotel forms the cornerstone precinct of the whole Gold Coast, with over 220 metres of direct frontage to Cavill Avenue generating 12-14 million visitors per annum – in line with some of the Country’s top performing shopping centres.  

Sam Hatcher, Head of Retail Investments Australia & New Zealand at JLL, noted “Over the past decade, the Gold Coast has solidified its position as a core investment market, underpinned by robust fundamentals including nation-leading interstate migration, record tourism growth, and strategic infrastructure development; strengthened by the upcoming 2032 Olympic Games. The region consistently outperforms other Australian tourism destinations and is now seen as a major global city and attracting significant local and offshore investment as a result.” 

Sam McVay, Managing Director of McVay Real Estate added “Paradise Centre is Australia’s pre-eminent entertainment and dining destination. The curation and productivity of tenants at the centre is exceptional and is perfectly aligned to suit a strong tourism customer base alongside a rapidly growing trade area.” 

The property comprises 23,000 sqm of retail space and is anchored by Woolworths, alongside iconic entertainment and hospitality venues including the world’s largest Timezone, The Sporting Globe, and Surfers Paradise Tavern. It also features a strong line-up of national retailers such as Zone Bowling, Starbucks, Grill’d and Australia’s first Wendy’s concept store from the US. The shopping centre has long been a flagship destination for the over 13 million tourists that visit the Gold Coast annually. Further supporting the unique positioning of the property, the owners have invested over $40 million into the property to significantly upgrade the F&B and retail offering onto the beach front exposure.  

Nick Willis, Executive Director at JLL Retail Investments Australia & NZ, commented “We are continuing to deal with a growing weight of capital looking to deploy into the retail sector. The vast majority of this capital has identified opportunity in acquiring retail assets as they provide mixed use development potential. However, in the current building environment the ability to deliver these projects is difficult. The offering of the Paradise Centre and Novotel provides investors an opportunity to gain immediate exposure without having to take on the development risk.” 

The Novotel Surfers Paradise is the Gold Coast’s largest hotel at 408 keys, including 2 multi-level penthouse rooms. The rooms are a generous 34sqm on average and benefit from direct and uninterrupted beach & hinterland views. In addition, the hotel has substantial conferencing and amenity, including tennis courts, pool and spa. With the level of amenity available at the hotel, there are likely to be several groups considering alternative living sector uses for the tower, including PBSA, BTR, retirement living and co-living. 

Adam Bury, Executive Vice President at JLL Hotels and Hospitality Group commented, “South East Queensland has become a must have for hotel investors, owing in part to the strong demand supply fundamentals. Gold Coast RevPAR has jumped 36% since pre-COVID and there is little new supply coming online, especially that would compete with the Novotel Surfers Paradise. Recent sales, such as the Vibe Gold Coast and Sheraton Grand Mirage, highlight the depth of domestic and international capital looking at the market and we expect to see similar bidding depth here”. 

Dan McVay, Chairman of McVay Real Estate added “The Novotel Surfers Paradise is an exceptional opportunity to enter the South East Queensland hotel market at scale. With a diversified income profile and significant development upside (STCA), we anticipate strong domestic and global investor interest.” 

The significant 2.3-hectare land holding, if purchased in one line, offers development upside comparable to freehold (STCA). 

The Gold Coast has continued to be a major beneficiary of affluent migration from residents seeking lifestyle advantages. As a result, median incomes and housing prices along the corridor have increased substantially over the prior 10-years, up approximately 28% (ABS) and 120% (CoreLogic) respectively. The strong demographic shift has further been supported by an ongoing annual calendar of events across the Coast, including events such as Fisher playing to 30,000 persons at Coolangatta, the annual Gold Coast air show attracting 270,000 persons, and the Gold Coast Marathon attracting close to 40,000 participants all annually. These dynamics are set to be further enhanced by the 2032 Olympic Games, with the city confirmed to host multiple events and benefit from related infrastructure investment. 

Paradise Centre and Novotel Surfers Paradise are available for sale in-one-line or individually via an International Expressions of Interest campaign closing Friday, 3 October 2025 at 2:00pm (AEDT).