This article is from the Australian Property Journal archive
A multi-tenanted large format retail centre in Moreton Bay’s suburb of Brendale has traded for $13.22m.
A private investor paid $3,827/sq m for the 3,455 sq m building at 170 Kremzow Road, reflecting a yield of 6.14%.
The asset includes 87 car parks on a site of 7,370 sq m. It traded fully leased to national tenants including Autobarn, Silly Solly’s, Pets Domain and The Salvation Army.
The sale was facilitated by JLL’s Ned McKendry, Liam Cox, and Harry Borger.
“This transaction demonstrates the continued strong investor appetite for quality retail assets in high-growth corridors,” said McKendry.
“The sale price and yield achieved reflect the property’s strategic location, quality tenant mix, and the robust fundamentals of the large format retail sector.”
Built in 2021, the property is approximately 25km north of the Brisbane CBD and is nearby the emerging Caboolture West Priority Development Area.
