Bracken Ridge Plaza sold $39.3M - JLL

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Mar 19, 2025

Bracken Ridge Plaza sold $39.3M - JLL

A prominent North Brisbane neighbourhood shopping centre, Bracken Ridge Plaza located at 250 Telegraph Road, Bracken Ridge sold by JLL Senior Director Jacob Swan and Associate Director Ned McKendry.

JLL

Bracken Ridge Plaza sold by JLL

Bracken Ridge Plaza, a prominent North Brisbane neighbourhood shopping centre anchored by a full-line Coles supermarket and complemented by a mini major and 25 specialty retailers has been acquired by a private investor for $39.3 million.

Located at 250 Telegraph Road, Bracken Ridge, the property changed hands following an off-market campaign managed by JLL's Queensland Retail Investments team.

JLL Senior Director Jacob Swan and Associate Director Ned McKendry led the sale, achieving an exceptional 5.51% passing yield and $6,455 per square metre rate for the seller.

"This transaction underscores the ongoing demand for suburban located, supermarket-anchored neighbourhood shopping centres that provide income growth through non-discretionary retailers," Mr Swan said. "Bracken Ridge Plaza exemplifies this trend, with its full-line Coles supermarket and a complementary mix of 25 specialty stores and a mini major tenant, with the majority of tenants offering non-discretionary goods and services."

The Centre's tenant mix includes established retailers such as QML Pathology and Telegraph Road Medical Clinic, further enhancing its appeal to investors seeking stable, long-term non-discretionary income streams.

The investment appeal was bolstered by the Centre’s income profile, with a 97.7% occupancy rate and a 4.34 year Weighted Average Lease Expiry (WALE), which together enhanced the income security of the asset.

Mr Swan highlighted the prime base rental growth potential as a key driver of investor interest. "The Centre’s income profile is underpinned by the Moving Annual Turnover (MAT) growth for Coles and passing percentage rent. As a result of this, Bracken Ridge Plaza has an attractive rental growth profile," he said.

The sale reaffirms the resilience and attractiveness of supermarket anchored neighbourhood shopping centres, particularly those with a strong focus on non-discretionary and essential service retailers.