RWC Retail sold 459 Old Cleveland Road, Camp Hill for $4,015,000 following an auction campaign that generated 281 enquiries and six registered bidders.
Located just 4km from the Brisbane CBD, the 348sqm retail centre occupies a prominent 936sqm corner landholding and generates a net income of $238,520 + GST per annum.
The fully leased property comprises five tenancies and a dog wash, all benefiting from strong main road exposure and 12 on-site car parks, which proved to be a major drawcard for buyers throughout the campaign
Lachlan O’Keeffe, Managing Director of RWC Retail, said the result highlights the continued depth of buyer demand for quality Brisbane retail centres.
“In the middle of ongoing global conflict and rising interest rates, we still saw 281 enquiries from buyers actively chasing retail centres like this,” Mr O’Keeffe said.
“When you combine a proven tenant mix, strong exposure and on-site parking this close to the CBD, buyers are prepared to compete aggressively.”
Buyers were particularly drawn to the centre’s high-profile corner position, proven tenant trading history and convenience-focused design, with on-site parking remaining one of the most sought-after features for near-city retail centres
Michael Feltoe, Partner and Head of QLD at RWC Retail, said demand for well located Brisbane retail centres continues to strengthen.
“Retail centres with strong fundamentals are becoming increasingly tightly held,” Mr Feltoe said.
“This campaign showed buyers still have significant confidence in quality retail investments, and with the budget now being delivered, we anticipate cash flow to become king and commercial real estate competition to intensify.”
