Autosports Group acquires Gold Coast land for new Mercedes-Benz facility

Autosports Group Limited has completed the acquisition of land and buildings at 68-74 Nerang Street and 3-5 Suter Street, Southport, Gold Coast, Queensland, through its subsidiary Prestige Group Holdings Pty Ltd. The 8,785 square meter site was purchased for $17.6 million, excluding tax and fees, funded by existing debt facilities, with stamp duty and registration fees covered by cash reserves.

This acquisition is a key part of Autosports Group's strategy to secure flagship locations in metropolitan markets. The company plans to develop a purpose-built Mercedes-Benz facility on the site, with development approval and construction expected to take approximately two years. Sales operations are anticipated to commence from its existing facility at 138 Ferry Road, Southport, in the first half of FY27.

The new Gold Coast facility, combined with the recently acquired Mercedes-Benz Canberra dealership, is set to strengthen Autosports Group's national Mercedes-Benz representation.