Sales and leasing trifecta for retail precinct Richlands Central
Sales and leasing trifecta for retail precinct, Richlands Central
| 23 July 2020
One of Brisbane’s newest retail subdivision precincts, Richlands Central, has welcomed a recent flurry of activity, with two national retail brands and a childcare centre opening their doors at the development.
Located approximately 30km south of the Brisbane CBD, Richlands Central is a retail subdivision spanning more than 11,000sqm. Developer Engage Group purchased the property in 2018, with plans to create a mixed-use retail centre to cater for the ever-growing south-western corridor of Brisbane.
One of its newest tenants, Automotive retail company Repco, has signed a five-year lease on a 700sqm purpose-built showroom property within the precinct.
In a second deal, Australian tool retailer Total Tools has taken occupation of a 1,500sqm purpose-built turn-key showroom.
CBRE’s Andrew Brimson and Sam Macgregor, who negotiated the deals on behalf of Engage Group, said the property’s high-profile position was a major attraction.
“Richlands Central offers unrivalled branding opportunities, with more than 50,0000 vehicles passing daily on Progress and Garden roads. Additionally, it is located just 100m of the soon to be open and trading HomeCo Richlands,” Mr Brimson said.
Mr Macgregor said an added advantage was the accessibility of Richlands Central via major transport links.
“Richlands Central adjoins the Richlands Railway Station and the bus interchange facility, as well as being easily accessed from the Centenary, Logan and Ipswich motorways,” Mr Macgregor explained.
Separately, Green Leaves Early Learning has also committed to lease space at the precinct. The deal was done directly by Engage Group.
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CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2019 revenue). The company has more than 100,000 employees (excluding affiliates) and serves real estate investors and occupiers through more than 530 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.