Warwick Home & Life precinct sold for massive $11.8m at market

A major Warwick retail precinct, which brought much loved franchises to the region, has been snapped up for a mammoth price. Developers say it’s an example of a boom coming to the region, which will see ‘the development of the local economy and population’.

The Home and Co precinct (Blue) will be mere streets away from the Home & Life Centre (yellow) which recently sold for millions.

Developers say the sale of a major Warwick retail precinct for a mammoth price is a sign of things to come, with “significant investment” into the region on the way.

Warwick Home & Life Centre, on Albion St, was completed in 2023, bringing in major franchises the region lacked.

BCF, Anytime Fitness, Doctors and Co, Cafe 63 and Petbarn were the new tenants which occupied the block near the Wood St intersection.

Recently, the centre has been sold to investors for a princely sum.

Colliers said the ‘strong demand for thriving regional hubs’ was the reason Warwick Home & Life Centre sold for $11,800,000 on the market recently, to a private Victorian investor.

Warwick Home & Life on Albion St (Photo: supplied)

“The campaign attracted significant interest with 190 inquiries and seven formal offers, with interest from both private and institutional capital both local and interstate,” Colliers Queensland associate director retail middle markets Harry Dever said.

“We closed the expression of interest (EOI) campaign just before Christmas and took the property off the market to engage in negotiations with a select group of short-listed parties.

“It became evident during these negotiations that there was a renewed sense of confidence in the market as we entered 2024. This sentiment was further supported by the recent pause in the interest rate cycle, with indications pointing towards potential rate cuts by year-end.”

Warwick Home & Life on Albion St

Mr Dever said the large format retail sector had outperformed due to population growth, restricted supply and tenant activity, which has attracted investors to this tightly held sub sector of retail.

The retail centre holds a prime position within Warwick CBD, with the next-closest outlets for the brands located almost 100km away.

Colliers Queensland expert Marlon Crawford said there had been significant ongoing investment in the Southern Downs that would support the development of the local economy and population.

“The town is a location of choice for business, investment, and employment,” Mr Crawford said.

“The region’s abundant industry diversity and transport infrastructure underpin its role as a major hub for Southeast Queensland’s agricultural, manufacturing and food processing, health and aged care, tourism, and transportation.”

The town is definitely a prime developing region for the Colliers group, who again have trusted in retail capacity and need for residents, announcing a second project in the Rose City.

The Home and Co precinct (Blue) will be mere streets away from the Home & Life Centre (yellow) which recently sold for millions.

The initial phase for Warwick Home & Co retail space was announced in recent weeks, which will bring more tenants to a site on Palermin St.

Currently, there are multiple shop fronts which will be able to be leased at the site, meaning multiple new businesses could be coming to Warwick.

The Home & Co project is a single level, large format retail centre, with approximately 4500sq m of opportunity, which is serviced by an existing car park and three points of access.

“This prime location boasts strategic positioning with prominent frontage along both the high retail street and the Cunningham Highway,” the listing said.

“The site presents unparalleled brand exposure … Take advantage of exceptional signage opportunities along the Cunningham Highway and triple street frontage, ensuring maximum visibility.”

Originally published as Warwick Home & Life precinct sold for massive $11.8m at market