Super Retail Group HQ fetches $56m for Centuria
Centuria has sold a prominent Moreton Bay office developed six years ago for Super Retail Group, which still occupies.
The three level campus style building, SRG House, at 6 Coulthards Avenue, Strathpine, realised $55.63 million following an expressions of interest campaign closing in September.
Sandran Property Group, led by William Phillips, is the buyer; the Sydney based investor holds other Queensland real estate. It also develops.
Knight Frank’s Matt Barker, Blake Goddard and Justin Bond with JLL’s Seb Turnbull and Elliott O’Shea were the agents.
Immediate development upside
On 2.85 hectares opposite Strathpine Shopping Centre, which is serviced by public transport, 6 Coulthards Ave contains a 6174 square metre tract which could be developed now, including with retail product (story continues below).
The office, with 7272 sqm of A-grade space and 611 car parks, was built for SRG as a headquarters, accommodating some 700 of that group’s 15,500 workforce (many also work at the company’s main distribution, nearby).
The initial lease has 10 more years to run.
Centuria held the property in a single asset fund.
Moreton Bay, in Brisbane’s north, is Queensland’s third fastest growing municipality.
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