Harris Farm in Brisbane’s affluent northside set for March auction
Premium fresh food centre Harris Farm Clayfield, which nets circa $1m off its popularity with some of Brisbane’s most affluent families, is set to go under the hammer within weeks.
Located just 6km from the Brisbane CBD at 823 Sandgate Road, the centre is being prepared for its March 24 auction by Ray White Commercial directors Michael Feltoe and Lachlan O’Keeffe.
“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 $6m into enhancing and expanding their tenancy, and located on one of Brisbane’s busiest intersections with exposure to over 53,500 vehicles daily.”
Mr O’Keefe said the centre had an incredible tenant retention history, having been 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 $1m net income, we anticipate this will be one of the most hotly contested auctions in Australia this year, for an asset of this calibre.”
Harris Farm returned to the site in 2020, having operated there in the late 1980s, with the centre widely known as the Clayfield Markets and its clientele centred on the affluent Clayfield, Ascot demographic where incomes are 47 per cent higher than the rest of Qld, the agents said.
Tenants include Harris Farm as anchor along with BWS and Clayfield Seafood Markets, with the centre also benefiting from income off a JCDecaux billboard.
Harris Farm Clayfield goes to auction on at 10.15am March 24.