Warwick’s thriving Home & Life centre offering southeast Queensland locals a new area to shop and dine has hit the market with the agents expecting a lot of interest from buyers.
Fully tenanted with retailers including BCF, Petbarn, Doctors&Co, Café 63 and Anytime Fitness, the retail centre holds a prime position within Warwick CBD, with the nearest outlets for the brands located 80km away.
Colliers Retail Middle Markets led by James Wilson, Harry Dever and Marlon Crawford have launched the new 100% leased large format centre.
Occupying a 6,048 square metre site, Warwick Home & Life is primely positioned along the highly visible Albion Street and the Cunningham Highway – a major arterial road that facilitates easy access to neighbouring towns and major cities and is serviced by 63 at grade car parks.
Colliers Queensland Associate Director Retail Middle Markets, Harry Dever said in the wake of the disruptions caused by the pandemic, demand for core, defensive assets had only intensified.
“Investment demand for new 100% leased assets underpinned by long WALE to national tenant covenants has increased in part to its high resiliency and ability to see through differing market conditions. This is a generational opportunity to acquire a strong performing large format retail centre occupying a prominent site in Warwick, an established regional city,” he said.
Colliers Head of Retail Middle Markets, James Wilson said Large Format Retail transactions in 2022 were 18% higher than the 10-year average, with a total transaction volume of $1.52 billion.
“Queensland was the most active state for capital allocation to large format retail assets in 2022, representing 40 per cent of the total volume for investments. Nationally, there remains limited new supply in 2023, with new supply levels 33% lower than that seen in 2021,” he said.
“Brand new large format retail centres in high growth locations, such as Queensland, are highly pursued due to their significant depreciation benefits and fixed annual rental review structures driving investor returns.”
Colliers expert, Marlon Crawford said, “Warwick Home & Life offers investors a new secure investment with 100% occupancy rate underpinned by ASX listed covenants BCF and Petbarn. There is significant ongoing investment in the Southern Downs LGA, that will support the development of the local economy and population. It is estimated that there are about 50,000 people in the trading area of Home & Life and about 3.5 million vehicles passing by annually.”
Warwick Home & Life is being exclusively marketed via an Expressions of Interest (EOI) campaign, closing 2pm (AEST) on Thursday 23rd November 2023.