homeworld-helensvale-gold-coast-sold-for-record-price
Homeworld Helensvale was sold to a high net worth private investor for $265 million. Image: Supplied.
  • Represents the largest ever LFR sale in Queensland
  • Is the second largest LFR sale in Australia
  • Over 7 hectares of vacant land has preliminary approval for more developments

The $265 million sale of Homeworld Helensvale has become Queensland’s largest large format retail (LFR) transaction on record, and Australia’s second largest LFR sale.

Comprising over 36,000 square metres of lettable area and a diverse mix of tenants, Homeworld Helensvale is situated in the northern suburbs of the Gold Coast, some 18 kilometres north of Surfers Paradise and approximately 60 kilometres south of the Brisbane Central Business District. 

Homeworld_Helensvale (1)
Homeworld Helensvale includes over 36,000 sim of lettable area on a 20.3 hectare site. Image: Supplied.

The landmark 20.3 hectare site is located on the highly trafficked Pacific Highway, and includes 7.34 hectares of developable vacant land on the same lot directly adjacent to the Centre with a portion of the land having preliminary approval for showroom, retail, medical and indoor recreation, and office expansion. Approval for high density residential, hotel and retirement living has also been granted.

“Large Format Retail has been one of the most resilient retail asset classes through the COVID pandemic, with probably the strongest yield compression of all the retail sub-sectors during this time and with average gross face rents having remained stable over Q2 2022,” said Stonebridge’s Philip Gartland. 

The sub-sector has also seen heightened patronage due to working preferences:

“Continued work from home and a reduced supply in the residential market has also boosted key large format retail categories, with many outperforming broader retail sales growth,” said Colliers’ Lachlan MacGillivray.

Mr Gartland added, “Over the past few years, changing consumer behaviours and planning flexibility has allowed the tenancy mix within LFR centres to evolve to suit both retailers and customers alike from both a convenience and flexible trading hour perspective.  Homeworld Helensvale is a very strong example of this evolution”

The invitation only international expression of interest campaign was managed by Colliers and Stonebridge, whom noted there were strong levels of engagement with a mixture of domestic and offshore groups which attracted substantial interest from high net worth privates, institutional groups and developers.

Ultimately, after a competitive two round EOI process, a high net worth private investor acquired Homeworld Helensvale.




You May Also Like

Work from home is here to stay, and Australia’s secondary offices are at a turning point

Secondary office assets face challenges with poor uptake and declining values, especially in B and C-grade properties.

Why Australia needs more industrial assets to boost productivity and growth

A new report reveals that Australia’s industrial assets handle over $1.2 trillion worth of products annually.

Sydney’s retail sector continues to improve, with one area boasting zero vacancy

Vacancy rates for Sydney’s prime retail core have dropped to 8.3%, with the one area recording vacancy rates of zero.

Construction titan Beehive Homes finds its new home in a prime Williamstown North warehouse

NSL Property Group facilitated the $650,000 deal, highlighting the property’s prime location and industrial versatility.

Experts Corner by The Property Tribune

Ko & NPA partner to launch several co-owned luxury properties at Mermaid Beach, Gold Coast

Ko's partnership with NPA Projects provides more opportunities to co-own off-the-plan holiday residences, including exclusive Gold Coast properties

Continue reading

Top Articles

Perth property market: The definitive guide to buying a modular home

Modular homes, misunderstood as inferior, offer efficient, durable alternatives to traditional construction methods.

The 50 square metre solution getting people into their first homes and delivering an answer to ...

Small, modular homes could be a key part of the broader solution to Western Australia's current housing challenges.

The hardest time ever to buy a house in Australia: How Australian home buying got ...

We're currently in a buyer's market, but that doesn't mean Australian house prices are crashing.