Stonebridge Property Group is pleased to announce the off-market sale of HomeCentre Morayfield, a fully leased Large Format Retail (LFR) centre located 44km north of Brisbane, for $48,000,000.
Situated in Morayfield, one of Queensland’s fastest-growing metropolitan corridors, HomeCentre benefits from exceptional connectivity and a robust trade area including a $600m+ retail spend in the local catchment1.
The region continues to experience strong population growth and retail demand, positioning the asset as a prime investment in a thriving market. Due to these fundamentals, the purchaser has identified significant potential for rental growth from the property over the short to medium term.
HomeCentre Morayfield sold for $48 million reflecting a core market cap rate of 5.75%. The centre boasts a WALE of 4.04 years by income, ensuring secure cash flow. Fully occupied and anchored by six national tenants, this asset delivers stability and long-term covenant strength, making it one of the most attractive retail investment opportunities in Queensland.
The tenancy mix comprises leading national retail brands, anchored by Nick Scali, Super Cheap Auto, Super Amart, Sydney Tools, Pillow Talk & Salvation Army; reinforcing the centre’s position as a dominant retail destination in metro Queensland.
“This discreet off market sale reflects the confidence sophisticated/best in class institutions currently have in high-quality retail assets with strong fundamentals,” said Philip Gartland, National Partner at Stonebridge Property Group. “With a fully leased profile and national tenant mix, HomeCentre Morayfield offers exceptional security and growth potential.”
1Location IQ (3km)
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