Thriving IGA and McDonald’s anchored convenience centre hits the market

Westbridge Funds Management has listed Castle Hill Village, a thriving convenience retail centre located just 23kms from the Brisbane CBD, for sale.

CBRE’s Joe Tynan, Michael Hedger and Harrison Coburn have been exclusively appointed to manage the sale via an Expressions of Interest campaign.

Located at 264 Dohles Rocks Road in Murrumba Downs, the 2,778sqm fully leased convenience centre is anchored by an IGA Local Grocer with a lease until 2029 and options to 2034, as well as a dual lane McDonald’s drive-thru with a long-term lease to 2033 and options to 2053.

The anchors are complemented by a resilient tenancy mix of 16 specialty retailers including BWS as well as a medical centre, pharmacy, and dentist, delivering essential services and daily needs to the local community. The investment is underpinned by a 4.40 year WALE (by income).

Mr Tynan said, “Castle Hill Village is located just 23km north of the Brisbane CBD, within the Moreton Bay region – one of Australia’s most dynamic growth corridors. The area is experiencing sustained population growth, with over 522,000 residents as of mid-2024, projected to reach approximately 690,000 by 2041.”

The centre sits on a 9,733sqm freehold site with 210m of direct exposure to both Dohles Rocks Road and Oggs Road providing ease of access via the dual entry points for customers.

Mr Coburn added, “This asset presents a compelling investment opportunity, combining the strength of the world’s most recognised QSR brand, McDonald’s, with a well-established IGA anchored convenience centre. The McDonald’s drive-thru is strategically positioned in the far northern corner of the site, offering future subdivision potential, subject to council approval – a rare value-add opportunity in today’s market.”

The Expressions of Interest campaign closes on Thursday 23^rd October 2025 at 4.00pm (AEST).