Woolworths Coomera East Shopping Centre in the Brisbane – Gold Coast growth corridor has sold on a fully leased yield of 5.41%, located on a 1.75-hectare site with a development-approved pad for apartments. The centre was acquired by a Sydney-based private investor following a competitive Expressions of Interest (EOI) campaign.
Woolworths Coomera East Shopping Centre, built in 2016, is anchored by a 15-year lease to Woolworths, extending through options to 2076. The centre includes eight specialty retailers and benefits from a DA-approved pad site for a six-level residential apartment.
The transaction, facilitated by the Colliers Retail Middle Markets team of James Wilson and Harry Dever, attracted substantial investor interest, reflecting the strength of demand for well-located retail assets in expanding growth corridors.
Colliers’ James Wilson said, “The Woolworths Coomera East Shopping Centre campaign generated exceptional levels of interest, attracted over 150 enquiries, with $180 million in unsatisfied capital, reflecting growing investor appetite for the Neighbourhood Shopping Centre sector.
“Colliers Retail Middle Markets’ national platform extracted offers from local, interstate, and offshore private capital, ultimately a first-time shopping centre investor from Sydney secured the centre.”
Colliers’ Harry Dever said, “As only the second Woolworths anchored shopping centre to be publicly marketed in Queensland in 2024, this was an opportunity for investors to deploy pent-up capital into a secure investment where income was underpinned by inflationary resilient tenants.
“The activity we saw during the campaign was unwavering, with over 50 groups active in the dataroom. From the offers we received, 50% of bids were from offshore capital and 83% from private investors who continue to be the most aggressive capital in the neighbourhood space.”
The centre’s location offers strong growth prospects, supported by $18 billion in public and private infrastructure investment, including the Coomera Connector (stage 1), new Coomera Hospital, and Gold Coast airport upgrade. The City of Gold Coast is expected to grow from 635,000 residents to over 940,000 by 2041, further strengthening the centre’s long-term value.