Private Investors Buy $114 Million in Retail and Medical Real Estate Across Australia

Transactions spanned Queensland, Victoria, New South Wales and Western Australia, with yields on fully leased neighbourhood retail centres ranging from 5.63% to 5.80%.

By the Family Office Real Estate Daily Desk·Wednesday, September 16, 2026·3 min read

Editorial summary of reporting byDevelopment Ready Our editorial standards →

The answer · checked against Development Ready

What commercial real estate deals transacted across Australia in the week of 14 September 2026?

Private investors and owner-occupiers purchased approximately $114 million in retail, medical, office and residential real estate across Queensland, Victoria, New South Wales and Western Australia in the week of 14 September 2026. Yields on fully leased neighbourhood retail centres ranged from 5.63% to 5.80%. Transactions spanned eight properties across five states and submarkets, with deals brokered by Colliers, CBRE, Stonebridge Property Group, Cushman & Wakefield and Knight Frank.

Key facts

Richlands Home & Life at 215 Government Road and 20 Garden Road, Richlands sold for $33.85 million to a high-net-worth Sydney investor, reflecting a 5.80% passing yield, according to Colliers agents Harry Dever and James Wilson.
Meridian Village Lifestyle Centre at 50 Titan Drive, Clyde North sold for $18.65 million to a local private investor at a 5.63% fully leased yield, achieving a $6,844 per sqm building rate reported as the highest for a Victorian large-format retail centre transaction in more than a decade, according to Stonebridge Property Group.
Two strata retail shops within Hong Kong Shopping Plaza on John Street, Cabramatta sold for a combined $8.24 million, with both transactions achieving rates above $85,000 per sqm, establishing a new benchmark for strata retail values in the suburb, according to Colliers and McConnell Bourn.
The mixed-use development site at 176 Montague Road, South Brisbane sold for $20 million to TRK Property Group, according to Colliers agents Simon Beirne, Brendan Hogan and Hunter Higgins.
Melbourne Eastern Healthcare at 159 Scoresby Road, Boronia sold in a sub-$15 million transaction, representing one of the few significant ground-lease healthcare transactions completed across Australia's medical property market in recent years, according to CBRE Australian Healthcare & Social Infrastructure.
The commercial office building at 2 Brook Street, East Perth sold for $10.45 million to Southern Cross Care, which intends to occupy the property's vacant tenancy, according to Knight Frank's Tony Delich and Metway Real Estate's Eric Rogers.

Private Investors Buy $114 Million in Retail and Medical Real Estate Across Australia — Image: editorial illustration · Story sourced from Development Ready

A high-net-worth Sydney investor purchased Richlands Home & Life, a large-format retail and convenience centre in Queensland, for $33.85 million. The transaction reflected a 5.80% passing yield. The recently constructed centre comprises 5,594 square metres on a 19,637-square-metre freehold site at 215 Government Road and 20 Garden Road, Richlands. It is anchored by Supercheap Auto, Petbarn, Autobarn, Caltex and Banjo's Bakery. The centre is fully leased, generates approximately $2.1 million in net income and has an 8.6-year weighted average lease expiry by income. Harry Dever and James Wilson of Colliers negotiated the deal on behalf of POD Developments.

TRK Property Group paid $20 million for a mixed-use development site at 176 Montague Road, South Brisbane. The 1,917-square-metre site sits within a major urban renewal pocket between South Bank and West End, alongside significant redevelopment plans for the neighbouring Visy and Parmalat factory precincts. Simon Beirne, Brendan Hogan and Hunter Higgins of Colliers negotiated the deal on behalf of a private vendor. The sale secured one of the final privately owned development opportunities within the emerging South Bank expansion precinct, the brokers said.

Brique Projects acquired a block of eight apartments at 85 Ryan Street, West End for $7.1 million following an Expressions of Interest campaign that generated 125 enquiries. The 1,153-square-metre property comprises eight self-contained two and three-bedroom apartments generating $454,532 in gross annual income. Positioned above the Brisbane River, the property also offers future development potential of up to four storeys, subject to approval. The transaction reflected a 5.1% net yield and a land rate of $6,157 per square metre. Will Carman and John Nucifora of CBRE negotiated the deal.

A local private investor paid $18.65 million for Meridian Village Lifestyle Centre at 50 Titan Drive, Clyde North, completing Griffith Group's $42.6 million sell-down of the broader Meridian Village retail development. The transaction reflected a 5.63% fully leased yield. The recently completed centre comprises 2,725 square metres on an 8,047-square-metre site and is fully leased to Supercheap Auto, Petbarn, Jaycar, Nutrition Warehouse and Australia Post, together with a dog wash kiosk. The transaction achieved a $6,844 per square metre building rate, reported as the highest for a Victorian large-format retail centre transaction in more than a decade. Justin Dowers, Kevin Tong and Rorey James of Stonebridge Property Group negotiated the deal.

Melbourne Eastern Healthcare at 159 Scoresby Road, Boronia sold in a sub-$15 million transaction, representing one of the few significant ground-lease healthcare transactions completed across Australia's medical property market in recent years. The property comprises a 2,327-square-metre multi-tenanted medical hub across 14 tenancies, anchored by Capital Radiology, Doctors Care Clinic, Vision Eye Institute, Boronia Specialist Suites and Australian Clinical Labs. It is co-located with the 60-bed Melbourne Eastern Private Hospital, operated by Macquarie Health. Sandro Peluso, Marcello Caspani-Muto, Jimmy Tat and Kai Wang of CBRE Australian Healthcare & Social Infrastructure negotiated the deal.

A local private investor purchased the nine-level freehold office building at 228 Victoria Parade, East Melbourne, marking the first East Melbourne office building of scale to transact in 2026. The campaign attracted 116 enquiries and seven competitive offers, with four of the seven bidders pursuing value-add investment strategies and the remainder comprising developers. Having accommodated the same occupier for more than 30 years, the property attracted interest for its potential to be repositioned, refurbished or redeveloped, subject to approval. Oliver Hay, Daniel Wolman and Leon Ma of Cushman & Wakefield Middle Markets negotiated the deal, with Jessica Crossland and Conor Sargent of Charter Keck Cramer acting as transaction advisers.

Two strata retail shops within Hong Kong Shopping Plaza on John Street, Cabramatta sold for a combined $8.24 million, establishing a new benchmark for strata retail values in the suburb. The 43-square-metre and 56-square-metre shops sold individually for $3.68 million and $4.56 million following a highly contested auction attended by more than 100 people. Both transactions achieved rates above $85,000 per square metre, substantially exceeding the suburb's previous strata retail benchmark. Harry Bui, Andrew Bui and Yirun Yang of Colliers, together with Yining Eric Cao and Ann Dam of McConnell Bourn, negotiated the deal on behalf of Deemhire Pty Ltd as trustee for the Vartuli private family office. Southern Cross Care paid $10.45 million for the commercial office building at 2 Brook Street, East Perth, which it intends to occupy. The two-level building comprises 2,676 square metres of net lettable area on a 1,974-square-metre site, with triple street exposure and 62 secure basement car bays. Tony Delich of Knight Frank, together with Eric Rogers of Metway Real Estate, negotiated the deal on behalf of a private seller.

The Deployment Angle

Family Office Real Estate Daily Desk · our analysis, not the source's

The yield gradient across these deals is instructive. The Richlands and Clyde North centres traded at 5.80% and 5.63% on fully leased income with weighted average lease expiries above eight years, pricing neighbourhood retail closer to supermarket-anchored assets that typically clear in the low-5% range. That convergence suggests private buyers are willing to underwrite large-format retail tenants with less of a risk premium than they demanded two years ago, when similar centres traded closer to 6.5%. Family offices pursuing direct ownership should model tenant rollover more conservatively than the WALE implies. Supercheap Auto and Petbarn leases often include co-tenancy clauses tied to anchor performance, and if one tenant vacates the centre loses its draw.

The Cabramatta strata sales at above $85,000 per square metre demonstrate the premium high-traffic immigrant retail commands when supply is constrained. At those land rates a family office acquiring the entire plaza on a roll-up basis would pay roughly $4.7 million per shop for 10 to 12 units, implying a $50 million to $60 million total outlay before transaction costs. That pencils only if rents can rise 20% to 30% over five years to justify the basis, which is plausible in Cabramatta but binary. The trade here is less about yield than about demographic lock and scarcity. Co-GP capital alongside a local operator with tenant relationships is the safer route than direct ownership for an offshore or interstate family office unfamiliar with the precinct.

The South Brisbane development site at $20 million for 1,917 square metres equates to a $10,433 per square metre land rate in a precinct where comparable improved sites have traded closer to $7,000 per square metre. TRK Property Group is paying for optionality tied to the Visy and Parmalat redevelopment plans, which remain subject to council approval and could take three to five years to materialise. A family office co-investing in that site would need to underwrite holding costs and pre-development risk with no income, which argues for a minority stake alongside a developer with local entitlement expertise rather than a separate account or programmatic joint venture. The East Perth office building at $10.45 million for 2,676 square metres of net lettable area reflects a $3,906 per square metre rate, well below replacement cost but appropriate for a two-level asset with one vacant floor. Southern Cross Care's owner-occupier bid removes downside lease-up risk but also caps upside. Family offices pursuing similar assets should model the vacant space at a 12-month lease-up and a 10% rent discount to reflect the building's age and configuration.

Questions this story answers

01What yields are neighbourhood retail centres achieving in Australia right now?

Two fully leased neighbourhood retail centres transacted in the week of 14 September 2026 at yields between 5.63% and 5.80%. Meridian Village Lifestyle Centre in Clyde North, Victoria reflected a 5.63% fully leased yield, while Richlands Home & Life in Queensland reflected a 5.80% passing yield, according to the deal disclosures.

02Who sold the Richlands retail centre in Queensland and what was the WALE?

POD Developments sold Richlands Home & Life at 215 Government Road and 20 Garden Road, Richlands for $33.85 million. The centre is fully leased and generates approximately $2.1 million in net income with an 8.6-year WALE by income, according to Colliers agents Harry Dever and James Wilson.

03What did the Cabramatta strata retail shops sell for per square metre?

Two strata retail shops in Hong Kong Shopping Plaza on John Street, Cabramatta sold individually for $3.68 million and $4.56 million, with both transactions achieving rates above $85,000 per sqm. The combined sale price was $8.24 million and established a new benchmark for strata retail values in Cabramatta, according to Colliers and McConnell Bourn.

04Who bought the South Brisbane development site and what is it near?

TRK Property Group purchased the mixed-use development site at 176 Montague Road, South Brisbane for $20 million. The 1,917sqm site sits within an urban renewal pocket between South Bank and West End, alongside redevelopment plans for the neighbouring Visy and Parmalat factory precincts, according to Colliers.

05What is notable about the Clyde North retail sale for Victorian large-format retail?

Meridian Village Lifestyle Centre at 50 Titan Drive, Clyde North sold for $18.65 million at a $6,844 per sqm building rate, reported as the highest for a Victorian large-format retail centre transaction in more than a decade. The deal completed Griffith Group's $42.6 million sell-down of the broader Meridian Village retail development, according to Stonebridge Property Group.

Browse every question the desk has answered →

Original reporting

Development Ready

Read the original at Development Ready →

neighbourhood-retaillarge-format-retailmedical-officestrata-retaildevelopment-sites

Peer Network · By Invitation

The Thesis Exchange

Share an investment thesis in confidence. We pair you anonymously with up to two other family offices running adjacent strategies. Reviewed by Gallium's editorial team. No vendor pitch.