Market-leading result realised through pre-market strategy showing strength of the LFR sector and the depth of capital
Colliers has transacted the Beenleigh Lifestyle Centre for $19.5 million at a sharp 5.66% yield, marking Exceed Capital’s first divestment since inception 9.5 years ago.
The off-market deal was exclusively brokered by Harry Dever, Associate Director, Colliers Retail Middle Markets, QLD, through a successful pre-market campaign. The asset at 137 George Street, Beenleigh was acquired by a high-net-worth interstate investor.
Strategically positioned in Logan’s growth corridor, the 4,180sqm large format retail centre sits on a 9,312sqm site and is fully leased to national brands including Supercheap Auto, Autobarn, Petbarn, Jaycar, F45, and Safe Places for Children.
“This transaction reinforces the strength of the large format retail sector and the depth of capital actively targeting resilient, income-generating assets in South-East Queensland,” said Harry Dever, Associate Director, Retail Middle Markets at Colliers.
“Securing a premium outcome ahead of launch demonstrates our ability to leverage market momentum and investor relationships, further cementing our track record in Queensland retail investments.”
This marks Colliers’ fourth Retail Middle Markets transaction in Queensland within the past two months in the Large Format Retail (LFR) sector, taking year-to-date sales to over $65 million. Recent highlights include Repco Max Capalaba ($13.5m, 5.34% yield), Warwick Home & Co ($8.65m) and Morayfield Village ($24.625m).
Exceed Capital purchased Beenleigh Lifestyle Centre in 2017 as its second asset.
“We don’t sell often because these assets are hard to replace, but the timing was right,” said Justin Clarke, Director, Exceed Capital. “Investors achieved 1.7x their initial capital from the sale plus they have received strong cash returns throughout the investment period, with the total return being over 2.4x their original investment. Most are reinvesting with us, speaking to alignment and outcomes.”
Located 35km south-east of Brisbane CBD and 37km north-west of the Gold Coast, the centre benefits from high exposure and accessibility in one of Queensland’s fastest-growing corridors.
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