Rochedale Central, which was built in 2018 on a 5,676m2 freehold site, is being marketed by JLL Retail Investment’s Ned McKendry, Liam Cox and Jacob Swan via a four-week Expressions of Interest campaign closing September 12.
According to JLL, the retail convenience centre located in one of Brisbane’s fastest-growing suburbs is set to capitalise on the ongoing resurgence of Australian shopping centre investment.
“Capital demand for shopping centre assets has remained elevated through 2024,” said McKendry. “It’s a trend evident across the sector’s broader size and scope, from neighbourhood centres with repositioning opportunities to dominant regional sites primed for future development.”
“Rochedale has experienced significant population growth, driven by a 110% increase in the number of private residential dwellings constructed over a five-year period,” McKendry said.
“This is encouraged by factors including its location just 14km from the CBD and its proximity to both transport corridors and amenities, creating ready access to the Brisbane CBD and other nearby employment hubs.”
Strong mix of community facilities elevates complex beyond a retail or lifestyle destination
The housing pipeline will be further enhanced by developments including the Rochedale Estates, which are set to deliver a 1,000-home community.
Cox noted the carefully tailored tenant mix at Rochedale Central – with a gross lettable area (GLA) of 1,757m2 and 89 parking bays – elevated the complex beyond a purely retail destination.
“With an Asian supermarket as its major tenant, the centre has a range of complementary lifestyle drawcards, from a coffee shop and hairdresser to a vet and Korean barbecue restaurant,” he said.
“It also contributes meaningfully to the suburb’s service amenity with strong healthcare credentials across both a dental care practice and a state-of-the-art healthcare facility offering everything from family medicine to a skin cancer clinic.
“These help cement its long-term position as a critical and high-profile community hub in a suburb that remains chiefly residential and popular with families.”
Swan said the complex offered exceptional income security via a 4.5 year WALE (by income) and a centre occupancy rate of 94% by GLA.
“This is an asset with significant capital growth potential with the majority of specialty retailers tied to fixed annual 3%-4% rent review increases,” Swan said.
“With rising construction costs serving to constrain new supply, it’s an investment opportunity at a genuine cost below replacement value.”
