Victorian-based property developer Goldfields Group acquired Sorrento Beach Resort in Western Australia after a two-year process to bring together 81 strata titles and acquire the resort business. News reports put the price at about or above $30 million, but Goldfields did not disclose a purchase price. The company says it intends to keep operating the resort while pursuing value-add opportunities.
Who bought Sorrento Beach Resort?
Goldfields Group, a Victorian-based property developer, acquired the resort at 1 Padbury Circle in Sorrento, about 17 kilometres north-west of Perth’s CBD. The property offers studio and one-, two- and three-bedroom accommodation. PerthNow described it as a few hundred metres south of Hillarys Boat Harbour.
Goldfields says the acquisition gives it freehold ownership of approximately 9,000 square metres of beachfront land as well as control of the resort’s operations. The company’s announcement describes the process as a two-year effort to amalgamate 81 individual strata titles and acquire the business. Goldfields Group’s announcement
How much did Goldfields pay?
Reports place the deal at about or above AUD $30 million: PerthNow described it as a reported $30 million sale, while The Urban Developer and Commercial Real Estate reported a figure of more than $30 million. Commercial Real Estate attributed its figure to industry sources. Goldfields’ announcement did not state the price, so $30 million should be treated as a reported estimate, not a buyer-confirmed amount. PerthNow; The Urban Developer; Commercial Real Estate
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Why did a Victorian developer buy a Perth resort?
Goldfields presented the resort as an income-generating addition to its Western Australian holdings, which include the Spindrift residential estate in Margaret River and a Cowaramup landholding. The company has said it sees a shortage of well-located boutique hotels and serviced apartments in Perth and the wider WA market. That is management’s assessment, not an independently established measure of hotel supply.
Commercial Real Estate reported that Goldfields initially considered redevelopment, including residential rezoning or a larger international hotel project. CEO Lachlan Thompson said the company reassessed those options after consolidating the titles and reviewing the existing business’s turnover and income profile. It chose to retain and operate the accommodation business rather than proceed with those redevelopment alternatives.
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Will the resort stay open or be redeveloped?
Goldfields said it planned to continue operating Sorrento Beach Resort while pursuing immediate value-add opportunities. Thompson described the intention as benefiting guests and the broader Sorrento community. This is the company’s stated plan, not confirmation of the resort’s current operating status.
Commercial Real Estate reported further intentions to add a restaurant and bar and renovate the ground floor. Those were described as future plans; the available reporting does not establish whether work has since begun or been completed.
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What does the acquisition mean for the surrounding area?
Goldfields WA State Director Gareth Wilson told PerthNow the property would ultimately form part of an emerging precinct. The nearby Ora Sorrento project was reported by PerthNow in August 2025 as under construction and scheduled for completion by late 2026. That was a publication-date forecast, not a verified current construction update.
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