Goldfields secures Sorrento Beach Resort in landmark WA acquisition
Goldfields’ acquisition builds on its growing presence in WA
Goldfields has completed the purchase of Sorrento Beach Resort, marking the successful amalgamation of 81 individual strata-titled properties and securing freehold ownership of approximately 9,000 square metres of prime beachfront land.
The deal signals the diversified national property developer’s continued push into Western Australia, adding a strong income-generating hotel to its growing portfolio of commercial, apartment, greenfield residential, industrial, build-to-rent, and retail assets.
Goldfields Chief Executive Officer Lachlan Thompson said the acquisition is both a strategic growth move and a hedge against ongoing construction cost pressures.
“Upon assessing the Perth and broader Western Australian hotel market, we identified a severe shortage of well-located boutique-style hotels and serviced apartment offerings,” Mr Thompson said.
“Our plan is to continue operating Sorrento Beach Resort while implementing immediate value-add opportunities that benefit guests and the broader Sorrento community.
“Sorrento Beach Resort has shown consistent revenue growth over the past decade, and we foresee several opportunities to further enhance its value and overall performance. The acquisition represents a significant beachfront landholding with strong land value, immediate income with upside potential, and a variety of future development options.”
Goldfields’ WA State Director Gareth Wilson described the acquisition as the result of a two-year process to bring the strata titles under single ownership, providing the company with full control of the asset and operations.
“We are thrilled to have secured this property that will ultimately form part of an emerging precinct,” Mr Wilson said. “Sorrento Beach Resort joins our popular Spindrift residential estate in Margaret River and our Cowaramup landholding, reflecting our broad, long-term vision for Western Australia.”
Located at 1 Padbury Circuit, just 17 kilometres north-west of Perth CBD, the resort boasts a mix of one-, two-, and three-bedroom apartments, plus studio options. Amenities cater to families, corporate travellers, community groups, and sporting teams, supporting strong year-round occupancy.
With Sorrento Beach steps away, easy access to Hillarys Marina for Rottnest Island trips, and proximity to business hubs including Joondalup, Balcatta, and Osborne Park, the property is positioned to capture both leisure and business markets.
Goldfields’ acquisition builds on its growing presence in WA and positions Sorrento Beach Resort as a key player in the region’s boutique accommodation offering.
