Rochedale Central, a prominent convenience retail centre in Brisbane, has been sold to a private investor for $11.49 million following an Expression of Interest (EOI) campaign that generated more than 400 enquiries.

The sale of the asset at 11 Lorisch Way, Rochedale was managed by JLL’s Retail Investments team, with strong interest particularly noted among local buyers. 

JLL Associate Director, Ned McKendry, who handled the deal alongside Senior Director, Jacob Swan and Executive, Liam Cox, pointed to the centre’s recent construction as a key driver of its appeal.

"Completed in 2018, Rochedale Central offered buyers minimal capital expenditure requirements coupled with significant tax depreciation benefits," Mr McKendry said. 

"In a market where new supply is constrained by rising construction costs, this represented an investment opportunity below replacement cost with genuine income upside potential."

Mr McKendry highlighted the asset’s strategic location and diverse tenancy mix, with the 1757sqm building offering 89 parking bays and a centre occupancy rate of 94 per cent by Gross Leasable Area (GLA).  

“Anchored by an Asian supermarket and complemented by a medical centre, dental practice and lifestyle amenities including dining options, Rochedale Central caters to both daily retail needs and leisure activities for the local community. 

“Its prominent 5676sqm corner location in one of Brisbane’s fastest-growing suburbs, combined with a 4.5-year WALE (by income), enhances its appeal and income security,” Mr Cox said.

“We continue to see strong capital demand for quality shopping centre assets across the retail sector – from neighbourhood centres with repositioning opportunities to dominant regional sites primed for future development,” Mr Swan said. 

“Rochedale Central's attractiveness is bolstered by its location just 14km from the CBD, proximity to transport corridors and amenities, and the area's robust residential development pipeline. 

“These factors solidify its long-term value as a critical and convenient community hub,” he said.

Related Readings 

Iconic Melbourne CBD department store sold by JLL | Commo.

Charter Hall acquires Glebe Hill Village through JLL | Commo.