Australasian real estate funds manager, Centuria Capital Group (ASX:CNI or “Centuria”), has delivered a 14% initial rate of return (IRR) for investors of a single-asset wholesale fund following divestment of a Strathpine office building - the purpose-built headquarters of Super Retail Group (ASX: SUL).

The sale of the 6 Coulthards Avenue, Strathpine Qld office building was secured for $55.5million to investment company, Sandran Property Group.

The three-storey, campus-style asset provides a c.7,300sqm net lettable area and is 100% occupied by Super Retail Group (ASX: SUL) with an approximate 10-year lease term remaining.

The asset was developed by Centuria and purpose-built for the ASX-listed retailer, which has operated from the building since November 2019.

Jesse Curtis, Centuria Head of Funds Management, said, “For close to 30 years Centuria has provided compelling real estate investment opportunities across a range of asset classes such as office, industrial, retail and alternative sectors. This particular Trust was established in mid-2017 and we are proud to deliver a strong return for our investors throughout the eight-year period.

“Looking more closely at the office sector in general, we have begun to see a turning point, which signals improving medium-term tailwinds driven by increasing adoption of office-centric work mandates, population growth underpinning a larger white-collar workforce, and limited new office developments tapering future supply. We believe these factors point to strong future tenant demand and shifting investment sentiment towards the office sector.”

On Thursday, 27 February Centuria released its interim 2025 Financial Year results, which reported of its $20.5 billion of assets under management, $13.7billion is weighted in unlisted funds.

JLL’s Seb Turnbull and Elliott O’Shea in conjunction with Knight Frank’s Matt Barker, Blake Goddard and Justin Bond facilitated the sale of the Strathpine office building.

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