Located at 23 Rowe Street, Caboolture, the institutional-grade office building generates a net income of $1,278,406 per annum and is anchored by Queensland Health and the Department of Housing, which together contribute approximately 87 per cent of the property's income stream.
Completed in 2023, the 2,480sqm office building sits within the heart of the Caboolture health and government precinct, adjoining the Caboolture Satellite Health Centre and within close proximity to Caboolture Hospital, Caboolture Day Hospital, TAFE and the Caboolture CBD.
RWC Northern Corridor Senior Analyst Ashley Rees said the rapidly rising construction costs of recent years has many eyes shifting to this sort of built form asset.
"Unless you have an in-house construction team swinging the hammers, the risk profile just doesn’t make sense anymore when you can buy an asset like this with government income from day one.” Mr Rees said.
"Most office investments come with a degree of leasing or capital expenditure risk. Here you have a building completed in 2023 with a 4.1 year WALE, strong government covenant strength and a location that sits at the centre of a rapidly expanding service catchment."
The property features a full steel frame construction, Five Star Energy Rating, solar infrastructure, end-of-trip facilities, breakout areas and ground floor café amenity.
RWC Northern Corridor Partner Aaron Canavan said the property's location within the Caboolture health precinct was expected to attract significant attention from private investors, family offices, syndicates and interstate capital.
"This isn't simply an office building. It's part of a much broader health, education and government services ecosystem that continues to grow alongside one of Queensland's fastest-expanding population catchments," he said.
"The existing North Moreton catchment is already home to approximately 225,000 residents, with a further 100,000 residents expected to move into Caboolture West and Morayfield South over coming decades. That growth directly drives demand for healthcare, housing and government services."
The property is being offered for sale via Expressions of Interest closing Thursday 23 July.
PROPERTY DETAILS
Address:
23 Rowe Street, Caboolture
Property Type:
Government-anchored office investment
Net Income:
$1,278,406 per annum
WALE:
Approximately 4.1 years
- Key Tenants:
Queensland Health
Department of Housing
Peach Tree NDIS
Jaz N Gaz Café
Building Area:
2,480sqm NLA plus 236sqm balcony/licence areas
Key Features:
- 87% government-weighted income
- Completed in 2023
- Five Star NABERS Energy Rating
- Solar infrastructure
- Full steel frame construction
- Integrated health and government precinct location
- Fixed annual rental increases of 3.5%–4%
Seller:
Private developer
Price Expectations:
Expressions of Interest
