First Foundations Australia purchases Centrelink Dalby building

Real estate agents say Dalby’s Centrelink property sale highlights the growing demand for secure government-tenanted investments in regional areas.

Dalby Centrelink has been sold for an eye-watering sum. Photo: File.

Dalby’s Patrick St Centrelink property has been sold for a whopping $4.65m.

Burgess Rawson’s Darren Beehag and Kieran Bourke brokered the deal for the government-leased property, which they said highlighted the growing demand for secure government-tenanted investments in regional areas.

The purchaser, First Foundations Australia led by Kieran Johnson, said they were “attracted to the Commonwealth government blue chip lease covenant, combined with the strong regional location which Dalby offers, being only 2.5 hours from Brisbane CBD”.

“The fact the property is positioned directly opposite a modern full-line Coles supermarket is a further attribute which anchors this investment,” he said.

The property, tenanted by Centrelink, features a three-year lease term extending to 2026, with an option to extend to 2029.

The building has been leased by Centrelink for more than 14 years.

Mr Bourke said the sale underscored the demand for government-leased properties in regional markets.

Mr Beehag added that the secure tenancy, attractive lease terms, and strategic location of the created an investment with strong future growth.

Originally published as First Foundations Australia purchases Centrelink Dalby building