Developer sells new KFC, car wash
POD Developments has sold an 18 month old convenience retail investment in Brisbane’s south west Richlands.
Richlands Marketplace, spreading 1.58 hectares at 205 Government Road, on the north east corner of Garden, collected $17.25 million following a campaign launched July.
With 1679 square metres anchored to KFC, it also includes a Hoppy’s car wash, café and eight specialty stores.
Seven offers came in, Colliers’ James Wilson and Harry Dever said.
Fast growing, big catchment
Between Inala and Wacol – a major industrial hub – this pocket of Richlands is about 19 kilometres from town (story continues below).
The site has 205 metres street frontage exposed to over 30,000 vehicles a day, the agents said.
The current catchment – 120,000 people – is set to rise, boosting retail expenditure to c$1.8 billion per annum by 2041, according the executives.
Richlands’ population specifically will increase to c36,500, they added.
“At $10,274 per sqm, this sale represents the highest gross lettable area per sqm rate achieved for a neighbourhood centre nationally since December 2023, and in Queensland since October 2023″.
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