Centuria Capital Group, an Australasian real estate funds manager, recently acquired the Logan Super Centre in Brisbane for $115 million, making it the largest Large Format Retail (LFR) transaction by value and size in the current financial year. The property, situated in Slacks Creek, Queensland, spans 27,000 square meters and boasts a diverse tenant profile, with anchor retailers including Freedom, Fantastic Furniture, Spotlight, and Anaconda.
Bruce McCully, Centuria’s Head of Retail, expressed delight in securing this prime LFR center in southeast Queensland, emphasizing its quality presentation and mix of reputable retailers. The acquisition aligns with Centuria’s strategy to enhance its Large Format Retail portfolio and capitalize on future development opportunities within the property.
The Logan Super Centre’s strategic location along the Pacific Highway positions it as a prominent retail destination with easy access to both Brisbane and the Gold Coast. Centuria’s investment in this property signifies confidence in the region’s economic growth and infrastructure development, including projects like the expansion of Logan Hospital and preparations for the 2032 Brisbane Olympics.
Jason Huljich, Centuria’s Joint CEO, highlighted the positive outlook for the LFR sector, driven by population growth, consumer spending, and limited supply. The Logan Super Centre’s Main Trade Area population exceeds 413,000 and is expected to witness continued growth, supported by rising retail expenditure and demographic trends.
The acquisition of the Logan Super Centre marks Centuria’s third retail investment in the past year, following successful ventures in Western Australia and New South Wales. The property’s 100% occupancy rate and strong tenant mix underscore its appeal to investors seeking stable returns in the retail sector.
CBRE’s Simon Rooney facilitated the sale of the Logan Super Centre, emphasizing the demand for well-positioned LFR assets offering secure rental income and long-term growth potential. The transaction, set to be finalized in late May 2025, represents a significant milestone in Australia’s commercial property market, signaling investor confidence in the retail sector’s resilience and future prospects.
As Centuria prepares to launch the Centuria Logan Super Centre Fund for retail and wholesale investors, the fund aims to provide attractive returns through monthly distributions and targeted equity raising. With a focus on value creation and asset management, Centuria’s latest acquisition underscores its commitment to delivering value and growth opportunities in the commercial property landscape.
In conclusion, Centuria’s acquisition of the Logan Super Centre reflects a strategic move to capitalize on the evolving retail landscape in Queensland and leverage the region’s economic potential. The transaction underscores the resilience and attractiveness of the LFR sector, positioning Centuria as a key player in the commercial property market with a focus on sustainable growth and value creation.
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