Centuria secures Australia’s biggest Large Format Retail deal in two years

Centuria Capital Group has acquired the Logan Super Centre in Brisbane for $115 million, marking Australia’s biggest Large Format Retail transaction in over two years.

The 35,000sqm retail hub, located 25km from Brisbane’s CBD, was first opened in March 2007 with anchor tenants including Snooze, Early Settler, Spotlight and Anaconda. The Logan Super Centre complements a well-established IKEA store on the neighbouring site, providing a destination for homewares.

The deal highlights continued investor confidence in the sector, which has demonstrated resilience despite broader economic challenges.

Bruce McCully, Centuria Head of Retail said, “We are extremely pleased to secure this high-quality destination Large Format Retail centre within a key, growing southeast Queensland market.

“Logan Super Centre stands out for its high-quality presentation and mix of high calibre retailers. This asset is a fantastic addition to our Large Format Retail portfolio which currently include 31 centres throughout Australasia.”

The acquisition comes amid a tightening Large Format Retail market, with limited supply and increasing investor interest. This deal reflects Centuria’s strategy of expanding its retail portfolio with well-located, high-performing assets.

Large Format Retail centres continue to attract investors due to their stable tenant mix and ability to adapt to evolving retail trends. With Australia’s retail landscape shifting, Large Format centres are proving to be a resilient asset class.

McCully added, “More specifically, the Logan Super Centre provides an opportunity to add value through our proactive inhouse asset management as well as future development optionality with the potential to create an additional 3,000sqm of retail space on the upper floor.”

Centuria plans to open a planned $71 million equity raise for Centuria Logan Super Centre Fund to wholesale and retail investors on 10 March 2025, with the fund providing an initial five-year term, targeting an average annual distribution of 8 per cent.

CBRE’s Simon Rooney facilitated the transaction.