Large format retail centre sells for $13.2 million in booming Brendale | JLL

Prime large format retail (LFR) centre in Brendale sells for $13.2 million, representing the first LFR sale in Queensland for 2025.

A fully-leased, multi-tenanted large format retail (LFR) centre in one of Southeast Queensland’s fastest-growing regions has sold for $13.225 million to a private investor, reflecting a building rate of $3,827 per square metre and a passing yield of 6.14%.

The on-market EOI transaction of 170 Kremzow Road, Brendale – Queensland’s first LFR sale for 2025 – was brokered by JLL’s Ned McKendry, Liam Cox and Harry Borger.

Mr McKendry said: “The campaign attracted strong interest from the private investment community as opportunities in the LFR sector remain increasingly scarce”.

“This transaction demonstrates the continued strong investor appetite for quality retail assets in high-growth corridors. 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,” Mr McKendry said.

The modern 3,455sqm centre, built in 2021, is situated on a high-profile 7,370sqm site with 87 car parks. It is fully leased to national tenants including Autobarn, Silly Solly’s, Pets Domain and The Salvation Army, providing a diverse and complementary retail mix.

Located approximately 25km north of the Brisbane CBD, 170 Kremzow Road, Brendale is positioned nearby the rapidly emerging Caboolture West Priority Development Area – a thriving growth corridor that is one of Queensland’s largest economic hubs and fastest-growing regions.

Liam Cox added: “Investors were most attracted to the mix of national tenants all with corporate leases in place and benefitting from favourable annual increases, staggered lease expires and significant depreciation benefits.”

“The strong result underscores the resilience of well-located, convenience-based retail assets. Investors continue to be attracted to properties with secure income streams and exposure to population growth corridors like Brendale in the Moreton Bay region,” Mr Cox said.