Harris Farm Clayfield has hit the market, being offered for sale via Auction on the 24th of March.
Located at 823 Sandgate Road, just 6km from the Brisbane CBD, the property is being brought to market by Ray White Commercial’s Michael Feltoe and Lachlan O’Keeffe.
The centre has been widely known to Brisbane locals as the Clayfield Markets for the last 29 years, but prior to that in the late 1980s the supermarket was operated by Harris Farm.
With the affluent demographic and Harris Farm’s history on the site, this was the natural first location for Harris Farm’s re-entry into the Queensland market back in 2020.
“This is a trophy asset in every sense of the word,” Mr Feltoe said.
“It’s anchored by one of Australia’s largest premium supermarket brands, which has invested over $6 million into enhancing & expanding their tenancy, and located on one of Brisbane’s busiest intersections with exposure to over 53,500 vehicles daily.”
Harris Farm is supported by long standing tenants BWS and the award-winning Clayfield Seafood Markets, with further income provided by a JCDecaux billboard.
This premium tenancy mix has proven consistently popular with Clayfield locals, who have a median per capita income 47 per cent greater than the rest of Queensland.
Mr O’Keefe said the centre had an incredible tenant retention history, being fully leased for over 20 years.
“With Harris Farm signing a new 10-year lease to 2032 and underpinning 75 per cent of the circa $1 million net income, we anticipate this will be one of the most hotly contested auctions in Australia this year, for an asset of this calibre,” he said.
Harris Farm Clayfield goes to auction on Friday 24 March, 2023, at 10:15am.
