The $17,250,000 sale of Richlands Marketplace, a newly constructed  Neighbourhood Centre located just 19 kilometres south of Brisbane’s CBD, has demonstrated the  growing appetite for retail investments in Queensland. 

Colliers’ Retail Middle Markets team, consisting of Harry Dever and James Wilson, executed a highly  successful on-market campaign on behalf of valued client POD Developments, selling the asset to a  Sydney investor at a yield of 6.25 per cent. 

Strategically positioned at a prime corner location that was previously a chicken farm, Richlands  Marketplace boasts over 205 meters of street frontage and enjoys exposure to more than 30,000  vehicles per day. Spanning 1,679 sqm, the centre is anchored by popular national tenants such as KFC,  Hoppy’s Carwash, Richlands Country Markets, Café 63, and 7 additional complementary tenants,  offering a diverse and dynamic retail mix. 

The campaign resulted in 124 enquiries, 28 groups actively participating in the Dataroom, resulting in 7  offers from domestic, interstate, and offshore capital, highlighting strong engagement and ongoing  demand for high quality retail assets. 

Colliers Queensland Associate Director Harry Dever said, “Notably, 6 out of the 7 groups were first-time  shopping centre investors, accounting for 85 per cent of the interested parties. This influx of new  capital reflects the growing appetite for retail investments in Queensland. Ultimately, we secured a  high-net-worth Sydney investor, who also marked their entry into the shopping centre investment  sector.”  

“The continued scarcity of new retail developments in Queensland is driving strong demand for high quality assets in key locations. Investors are particularly drawn to centres that feature long leases  secured by national tenants, which provide both stability and significant depreciation benefits. 

“At $10,274/sqm, this deal represents the highest GLA$/sqm rate achieved for a Neighbourhood Centre  nationally since December 2023, and in Queensland since October 2023,” Harry Dever added.

Colliers Head of Retail Middle Markets Australia James Wilson said “Colliers leveraged its national Retail  Middle Markets platform to engage an increasing amount of private and institutional capital, with the  increase in investor demand coinciding with the first RBA rate cut in four years. This is resulting in  greater competition for limited high-quality, brand-new developments.”  

“This sale marks a significant milestone for the retail investment sector in Queensland and underscores the growing confidence in high-quality retail assets across the state,” James Wilson added. 

Richlands Marketplace is located within the City of Brisbane, approximately 19 kilometres south-west  of Brisbane CBD and 80 kilometres north-west of the Gold Coast CBD. 

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