Centuria Capital Group, an Australasian real estate funds manager, has recently completed the acquisition of the Logan Super Centre in Brisbane for $115 million, making it the largest transaction in the financial year 2025 so far. This significant purchase solidifies Centuria’s position in the commercial property market, particularly in the Large Format Retail (LFR) sector.

Situated at 3525-3537 Pacific Highway, Slacks Creek Qld, the Logan Super Centre spans approximately 27,000 square meters across two stories. The property boasts a diverse tenant mix, with a substantial 93% of its gross rental income coming from reputable ASX-listed and national retailers. Notable anchor tenants include Freedom, Fantastic Furniture, Spotlight, and Anaconda, alongside other large format and specialty stores, ensuring a healthy occupancy rate of 100% and a Weighted Average Lease Expiry (WALE) of 3.4 years.

Bruce McCully, Centuria’s Head of Retail, expressed enthusiasm about the acquisition, highlighting the center’s premium quality and strategic location in the growing southeast Queensland market. He emphasized the potential for value enhancement through proactive asset management and future development opportunities, such as the creation of additional retail space within the property.

The transaction, facilitated by CBRE’s Simon Rooney, underscores the robust demand for well-positioned LFR assets offering stable rental income and long-term growth potential. With expectations of a surge in LFR sales from around $550 million to $1.6 billion by 2041, Centuria’s move aligns with the positive outlook for the sector.

Moreover, the Logan Super Centre’s favorable location and strong economic fundamentals, including population growth and infrastructure developments like the expansion of Logan Hospital and preparations for the 2032 Brisbane Olympics, further enhance its investment appeal. The center’s Main Trade Area population surpassing 413,000 and consistent growth rates underscore its attractiveness to investors seeking stable returns in a promising market.

This acquisition marks Centuria’s continued expansion in the retail sector, following previous acquisitions of Halls Head Central in Western Australia and Manning Mall in New South Wales. The Logan Super Centre, operational since 2007 and strategically positioned for accessibility between Brisbane and the Gold Coast, is set to open its equity raise to investors in March 2025, offering an anticipated average annual distribution of 8%.

In conclusion, Centuria’s acquisition of the Logan Super Centre not only represents a significant transaction in the commercial property landscape but also signifies the company’s strategic focus on high-quality assets with growth potential in key markets. With a strong tenant mix, favorable market projections, and proactive asset management strategies, Centuria is poised to leverage the center’s value and contribute to the flourishing LFR sector in the coming years.