Two non-discretionary neighbourhood centres brought to market across Queensland and Western Australia in a rare portfolio offering.
Stonebridge Property Group Retail Investments and Colliers Retail Middle Markets have been appointed to market NorthWest Plaza in Queensland and The Village Australind in Western Australia, with combined price expectations of more than $110 million. The offering provides investors with exposure to leading supermarket tenants, diversified income streams, substantial landholdings and future development upside.
The centres are being offered for sale individually or in one line on behalf of Acure Asset Management, with Justin Dowers, Sam Linden and Carl Molony of Stonebridge Retail Investments, alongside Tim McIntosh, Richard Cash, Harry Dever and James Wilson of Colliers, managing the campaign.
In Queensland, NorthWest Plaza, located 9km north of the Brisbane CBD at Everton Park, comprises 9,696sqm of retail space on a 3.08-hectare site. The centre is anchored by a full-line Woolworths supermarket, one mini-major, 21 specialty retailers and three pad sites.
Northwest Plaza is 97% leased with a 78% weighting to national and chain tenants and supported by a land-rich site in a metropolitan location with just 31% site coverage and schemes for an integrated mixed-use development incorporating residential uses on parts of the undeveloped land.
The Village Australind is a dual-supermarket Coles and ALDI-anchored neighbourhood centre complemented by three mini-majors, 15 specialty retailers and eight food and beverage tenancies along Mardo Avenue. The centre comprises 9,285sqm of gross lettable area across a substantial 3.51-hectare site, with opportunities for future expansion or the sell-down of pad sites.
It is the largest shopping centre in Australind and benefits from a highly convenience-led retail offering, with approximately 90% of income secured by non-discretionary tenants. Its low 26% site coverage also provides scope for future development and expansion.
Tim McIntosh, National Director | Retail Middle Markets at Colliers, said neighbourhood centres continue to attract investors seeking resilient, convenience-led income.
“Neighbourhood centres continue to appeal to investors given their focus on everyday retail needs and the stability provided by established supermarket operators.
“This is reflected in transaction activity across the sector, with neighbourhood shopping centres recording $739 million in sales nationally during the last quarter, as investors continue to target assets underpinned by non-discretionary spending and leading supermarket brands.
“The Village Australind and NorthWest Plaza reflect these preferences, with diversified tenancies, strong local catchments and resilient income streams.”
Both assets are positioned to benefit from population growth in their respective markets, with Western Australia recording annual population growth of 2.2% and Queensland growing 1.6%, supporting long-term demand for convenience retail and essential services.
Sam Linden, Director, Retail Investments at Stonebridge, said the portfolio highlights both the depth of capital demand and the rarity of the offering.
“Capital depth for quality convenience-based neighbourhood centres, particularly with strong income growth, remains elevated as they appeal to a unique mix of institutional mandates, new entrant global investors, local syndicates and generational private investors.
“Portfolios of this scale and geographic diversification rarely come to market. With approximately 6.6 ha of land across more than 19,000 sqm gross lettable area, the portfolio forms a land rich opportunity with value-add upside across two of the country’s fastest-growing state economies.”
James Wilson, Head of Retail Middle Markets at Colliers said the centres were well placed to benefit from continued growth and unlock further value from their substantial landholdings.
“Both centres are positioned within established catchments that continue to benefit from population growth and evolving consumer needs.
“Their substantial underlying landholdings and relatively low site coverage provide scope for future expansion, repositioning and development, creating opportunities to enhance value over the longer term.”
Justin Dowers, National Partner, Retail Investments at Stonebridge further highlighted the strength of the portfolio’s supermarket anchors.
“Having Woolworths, Coles and ALDI across the two centres gives investors exposure to all three of Australia’s major supermarket operators, which is uncommon for a portfolio of this size.
“At The Village Australind, Coles and ALDI together make up approximately 53% of gross lettable area, while Woolworths anchors NorthWest Plaza in an affluent catchment. These anchors drive consistent weekly foot traffic and support a secure, defensive income stream.”
Together, the two centres provide investors with exposure to more than 18,900sqm of retail and commercial accommodation positioned to benefit from continued population growth and long-term redevelopment potential.
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