Woolworths Group has listed the recently opened Warbu-Bellmere Shopping Centre for sale amid strong private investor demand.

Located along the Brisbane to Sunshine Coast growth corridor, the Centre opened in August 2023 and is anchored by Woolworths on a new 10-year lease. Woolworths Warbu-Bellmere is the largest full-line supermarket in the main trade area and occupies 71% of the Centre’s gross lettable area.

CBRE’s Michael Hedger and Joe Tynan are exclusively managing the sale via an Expression of Interest campaign.

The 5,164sqm Centre has an 8.3-year WALE by income and features the latest format Woolworths Direct-to-Boot drive through service. Key tenants include BWS, Discount Drug Store and Snap Fitness.

The Centre also features a food and dining precinct with cafe, pizza, kebab and sushi operators, enhanced by a covered alfresco seating area for customer enjoyment.

“Following the recent Queensland sales of the Woolworths-anchored Poinciana Place Shopping Centre (5.49%) and Mountview Shopping Centre (5.27%), we are continuing to field strong investment demand from the private sector,” Mr Hedger said.

“We expect the Warbu-Bellmere Shopping Centre sales process to generate interest from both domestic and international investors given the pent-up demand we are seeing in the market, particularly for brand new shopping centres in strategic growth corridors.”

Mr Tynan added, “Warbu-Bellmere Shopping Centre is a well-designed shopping centre which meets the needs of the rapidly expanding catchment area. One of the unique features is the 500 solar panels, offsetting 20% of the supermarket’s electricity. Woolworths Group is aiming to receive a 4-star Green Star development rating for the Centre.”

The Centre is set to benefit from the rapidly expanding main trade area (MTA) population which is forecast to grow 4.8% per annum to over 28,000 people by 2041, well above the Brisbane metropolitan average of 1.8%. The MTA’s total retail spending is currently estimated at $571.4 million and is projected to increase to over $1.89 billion by 2041, a 6.9% per annum growth rate.

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