Colliers Asia Markets team connects offshore vendor with local owner-occupier in tightly held suburban hub.
A retail asset in one of Brisbane’s most tightly held Asian business precincts has changed hands for $1.625 million, underscoring continued demand from owner-occupiers seeking well-located suburban commercial space.
Colliers’ Asia Markets team has facilitated the sale of Lots 6 and 7 at Pacific Centre, 8 Lear Street in Sunnybank Hills via an Expressions of Interest campaign, with the property acquired by a local Asia-Pacific owner-occupier.
The 156sqm strata retail tenancy, spread across two lots within the well-established Pacific Centre, was sold with vacant possession by an offshore Asian private investor. The sale reflected a capital value of approximately $10,417 per square metre of net lettable area.
The property occupies a prominent position within the centre with exposure to busy Calam Road and benefits from strong accessibility, including a bus stop located directly in front of the complex and ample on-site parking for customers.
Colliers Director of Asia Markets Queensland Tony Wang said the transaction highlighted the continued depth of demand from Brisbane’s Asian business community for well-located retail opportunities in established suburban hubs.
“Sunnybank Hills remains a tightly held precinct within the Asian business community, and assets in established centres such as Pacific Centre rarely come to market,” Tony Wang said.
“Through our Asia markets platform and extensive relationships across the community, we were able to identify and engage the right purchaser who recognised the strategic location and the potential to reposition the property for education use.”
The purchaser was attracted to the property’s strong exposure to passing traffic along Calam Road, convenient public transport access and flexible configuration across two strata lots, which provides dual access from both the front and rear of the tenancy.
The new owner plans to repurpose the premises for education-related use, with the location expected to appeal to students due to its accessibility and proximity to surrounding residential catchments.
Tony Wang said the deal further demonstrated the strength of Colliers’ Asia Markets platform in connecting vendors with qualified Asia-Pacific buyers and owner-occupiers across Southeast Queensland.
“Demand from Asia-Pacific owner occupiers continues to be a key driver across suburban retail markets, particularly where properties offer strong exposure, accessibility and the ability to support business operations,” he said.
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