Chinese group buys Sofitel Hotel Broadbeach for $83 million with plans to redevelop

THE Sofitel Hotel at Broadbeach has been sold to a Chinese company for $83 million.

It is understood that a deal has also been reached for the adjoining Oasis Shopping Centre.

The hotel sale was negotiated without an agent, struck directly between the mainland Chinese buyer and Canada-based Brookfield.

It’s understood that a ­contract on the hotel was signed about five weeks ago, and will be finalised once some minor due diligence conditions have been met.

There was speculation last month the shopping centre would be sold to listed funds manager Abacus for close to $100 million.

Sourcing: Gold Coast bulletin