Strong competition as private investor secures new regional centre anchored by global automotive giant Repco.
Warwick Home & Co Large Format Retail (LFR) Centre, a fully leased, nationally tenanted asset, has been acquired by a private investor in a highly competitive $8,650,000 deal, demonstrating the strong appetite for quality retail investments in this region.
The centre, located at 26 Palmerin Street, Warwick, was sold following an Expressions of Interest process led by Colliers Retail Middle Markets experts Harry Dever, James Wilson, and Industrial expert Marlon Crawford, on behalf of our valued client.
The prominent 4,226sqm site, which features a 2,522sqm single-level retail space, has undergone a significant transformation from its former use as a Bunnings Warehouse and is now home to leading national retailers Repco (NYSE: GPC) and Choice The Discount Store.
With multiple offers and over 260 enquiries, demand for this regional retail asset highlights the ongoing investor appetite for high-quality properties with secure tenant covenants.
Colliers Retail Middle Markets Associate Director Harry Dever said, “We’re experiencing a shift in capital flows toward regional Queensland, driven by heightened interest from private investors and syndicators seeking strategic portfolio diversification and yield resilience within tightly held markets.”
“Warwick Home & Co marks the second major large format retail transaction in the Southern Downs Region, bringing total sales for Colliers Retail Middle Markets to over $20 million, following the sale of Warwick Home & Life for $11,800,000 just 12 months ago.”
The broader Southern Downs region is undergoing significant investment in infrastructure and development, with over $2 billion in public and private investment underway. According to Location IQ, LFR spending in the region’s trade area is expected to grow by more than 57 per cent from $190.4 million in 2021 to $298.8 million by 2041, underscoring the long-term demand for retail offerings in the region.
Colliers Head of Retail Middle Markets James Wilson said, “Investor demand from sophisticated private investors and institutional funds for high-quality Large Format Retail (LFR) Centres continues to strengthen. However, the supply of newly developed LFR assets remains constrained due to rising construction costs across the sector, resulting in increased competition from investors for a limited pipeline of new developments.”
Strategically positioned in Queensland’s thriving Southern Downs Regional Corridor, just two hours from Brisbane, Warwick Home & Co occupies a prime location within Warwick with high visibility along Palmerin Street, the town’s main thoroughfare, and convenient access via Albert Street.
Colliers Large Format Retail Director Marlon Crawford said: “The Southern Downs region continues to show strong growth prospects, bolstered by its diverse economic base, including agriculture, logistics, manufacturing, tourism, and health.
“Government-backed infrastructure projects are adding further momentum to the region’s expansion, making it a highly attractive investment destination.”
Related Articles
