Morayfield retail centre sells for $48m in off-market deal
A large format retail asset north of Brisbane has transacted for $48 million in an off-market deal, underscoring sustained investor appetite for defensive retail property in high-growth corridors.
HomeCentre Morayfield, located 44 kilometres from the Brisbane CBD, was acquired by BWP Trust from Argus Property Partners.
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The asset was previously purchased from HMC Capital five years ago for $28.85 million. The latest transaction was brokered by Stonebridge Property Group.
Positioned within one of South East Queensland’s fastest-growing metropolitan corridors, the fully leased centre benefits from strong population growth, expanding residential development and improving transport connectivity. The precinct has emerged as a key retail hub, supported by more than $600 million in annual retail spending within a three-kilometre catchment.
The centre’s tenant mix includes major national retailers such as Nick Scali, Supercheap Auto, Super Amart, Sydney Tools, Pillow Talk and the Salvation Army. With a weighted average lease expiry of 4.04 years by income, the asset offers stable income security, further reinforcing its appeal to institutional investors.
The sale reflected a core market capitalisation rate of 5.75 per cent, consistent with pricing for high-quality metropolitan retail centres. Industry sources note that well-located large format retail assets are increasingly viewed as resilient investments, particularly amid volatility across office and other commercial sectors.
Morayfield’s strategic location, with direct access to major arterial roads, has strengthened its role as a regional retail destination servicing both local residents and surrounding suburbs. Demand for centres that offer convenience, accessibility and ample parking continues to rise as suburban populations expand.
The transaction also highlights the continued prevalence of off-market activity within the sector, with tightly held assets rarely brought to public campaigns. Comparable deals in the area include the recent $24.6 million sale of Morayfield Village to a private Sydney-based investor.
As population growth accelerates across Brisbane’s northern corridor, assets such as HomeCentre Morayfield are expected to remain highly sought after, supported by strong fundamentals and consistent consumer demand.
Images by The Urban Developer
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