Coorparoo Square Shopping Centre Developed by Frasers Property Australia for Sale

The prized metropolitan retail centre forms part of the award-winning mixed-use development which seamlessly integrates with 366 apartments and is approximately 4.5 km from the Brisbane CBD. CBRE’s Joe Tynan and Michael Hedger and Stonebridge’s Justin Dowers and Carl Molony have been exclusively appointed to offer for sale Coorparoo Square on behalf of Frasers Property Australia via an Expressions of Interest campaign.

The property is anchored by long leases to ALDI and a ten-screen Dendy Cinema and is complemented by a bespoke range of 25 food & beverage and service-based speciality tenancies, providing a gross lettable area of 6,778 sqm. Coorparoo Square’s strategic location offers unparalleled access to major transport links allowing the asset to service a wide geographical trade area.

Servicing a highly affluent and populous catchment, Coorparoo Square will greatly benefit from strong population growth in the Total Trade Area which is forecast to increase by 17% by 2041¹.

Felicity Armstrong, General Manager Retail Investments, Frasers Property Australia commented: “Coorparoo Square is one of our most successful projects and is an exemplar of mixed-use development, demonstrating the value of a carefully curated retail and entertainment experience in enhancing the local community it serves. Since opening, Coorparoo Square’s retailers have filled gaps in the local offering to bring something new and exciting to this cosmopolitan part of inner Brisbane, and the place-making and community development approach to its creation has ensured the centre has become an established focal point for the local community.”

Stonebridge’s Justin Dowers commented “This is an irreplaceable inner Brisbane retail centre with excellent income growth prospects. 100% of the centre’s rental income is subject to fixed increases making it a highly compelling offering, especially given its proximity to the CBD.”

CBRE’s Joe Tynan commented “With the Olympic Games on the horizon, Brisbane has undergone tremendous growth in recent months. Coorparoo Square is extremely well positioned to capture both population and economic growth with substantial projects occurring in the immediate proximity.”

Stonebridge’s Carl Molony commented “Coorparoo Square has been meticulously designed to provide a highly convenient shopping experience for both its residents and catchment which should be highly appealing to both domestic and offshore capital purchasers in this sector. Recent campaigns have been characterised by elevated participation levels from an increasingly diverse capital base recognising the relative strength of retail investments in the current market cycle.”

CBRE’s Michael Hedger commented “The centre has a strong food & beverage offering that complements the ten-screen Dendy Cinemas and trades exceptionally well with a retail speciality occupancy cost ratio of 12.1%, better than benchmarks. With an occupancy of 99% and strong weighted average lease expiry (WALE) of over 5 years (by income), Coorparoo Square provides a highly secure income stream.”

Expressions of Interest for Coorparoo Square Shopping Centre at 300 Old Cleveland Road, Coorparoo close on Thursday, 29 August 2024.

¹Per internal analysis and forecasting using the Location iQ Centre and Trade Area Review, October 2022

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