FOR SALE - 23 Rowe Street, Caboolture

CABOOLTURE HEALTH HUB

Government-Anchored Commercial Office Investment

Secure Income | Northern Growth Corridor FOR SALE

Expressions of Interest Closing Thursday 23 of July at 4pm

YOUR OPPORTUNITY

RWC Northern Corridor Group are pleased to present 23 Rowe Street, Caboolture to the market for sale.

Positioned within the heart of the Caboolture health and government precinct, this modern institutional-grade office asset was completed in 2023 and comprises 2,480m²* of NLA plus approximately 236m²* of balcony and licence areas across a flexible multi-tenancy configuration.

Anchored by Queensland Government tenants with approximately 87% government-weighted income, the property provides a highly defensive investment profile supported by long-term lease covenants, fixed annual rental increases and strong underlying demand drivers tied to the continued expansion of the Caboolture and Moreton Bay region.

23 Rowe Street offers investors exposure to a stabilised income stream within one of South East Queensland’s fastest-growing health, government and infrastructure corridors, appealing to institutional investors, private capital and SMSF buyers seeking secure long-term holding characteristics.

KEY FEATURES

2,480m²* NLA on a 4,773m²* freehold lot

Completed in 2023 – modern institutional-grade construction

Net income of $1,278,406 per annum

WALE of approximately 4.1 years (income)

Five-tenancy structure providing income diversification

Five-star NABERS rating with expansive solar infrastructure

GOVERNMENT TENANTS

Queensland Health | 32.54%

Department of Housing | 55.32%

Total government exposure of approximately 87%+

Fixed annual rental increases of 3.5% | 4% across key leases

Predominantly government gross lease structure

Staggered lease expiries extending into the 2030s

Located within established health, education, and government precinct

For Sale via Expressions of Interest closing Thursday 23 of July at 4pm.

For further information or to arrange access to Dataroom, please contact the exclusive agents Aaron Canavan and Troy Sturgess.

Aaron Canavan

Commercial Principal 0447 744 948 aaron.canavan@raywhite.com

Troy Sturgess Senior Agent 0432 701 600 troy.sturgess@raywhite.com

EXECUTIVE SUMMARY

Legal Description Lot 1 on survey Plan 325429

Total Land Area 4,773m2*

NLA 2,480m²* - Plus 236m²* balcony/licence areas

Zoning Urban neighbourhood

Local Authority Moreton Bay City Council

Car Parks 51 (39 dedicated plus 12 visitor parks)

Tenancies 5

Services Water, electricity and sewerage as well as access to telecommunications

Outgoings $232,388

Net Income P/A $1,278,406

WALE Approx. 5.0 years (income)

Rental Increase P/A Fixed of 3.5%–4%

$1,278,406

TENANCY SCHEDULE *

FINANCIALS*

UNDERSTANDING THE BUILDING

23 Rowe Street was specifically designed to accommodate modern government and health users, incorporating:

Robust steel construction

High-efficiency building systems

Modern services infrastructure

Energy-conscious design principles

End-of-trip facilities

Natural light and breakout areas

Integrated solar infrastructure

5 STAR NABERS RATING | INSTITUTIONAL GRADE ENVIRONMENTAL PERFORMANCE

23 Rowe Street has achieved a 5 Star NABERS Energy Rating, positioning the asset within a highperformance category increasingly sought after by government, institutional and corporate occupiers.

For government tenants in particular, NABERS ratings are no longer viewed as an optional feature. Environmental performance, operational efficiency and sustainability outcomes now form a key part of tenancy procurement and accommodation strategies across many departments and agencies.

A strong NABERS rating assists government occupiers in meeting:

 ESG and sustainability targets

 Energy efficiency benchmarks



Workplace wellbeing objectives

 Whole-of-government environmental commitments

 Operational cost reduction requirements

For investors, this becomes particularly relevant when assessing long-term tenant retention and leasing competitiveness within the office sector.

SOLAR INFRASTRUCTURE & OPERATING COST BENEFITS

The property also benefits from a 53 Kw rooftop solar system designed to assist in reducing overall energy consumption and operating costs across the building.

For government and institutional occupiers, the ability to reduce electricity consumption within a large-format office environment can translate into meaningful long-term occupancy savings, particularly as energy costs continue to rise.

Combined with the 5 Star NABERS Energy Rating, the solar infrastructure further reinforces the property’s positioning as a modern, efficient and future-focused institutional-grade office asset within the Caboolture health and government precinct.

UNDERSTANDING THE TENANTS

UNDERSTANDING THE TENANTS

The strength of 23 Rowe Street is not simply the quality of the building, but the quality, diversity and longterm strategic relevance of the tenant profile occupying it. The property is anchored by a blend of government, government-funded and service-based occupiers that align closely with the long-term growth of the Caboolture health and civic precinct.

QUEENSLAND HEALTH

Queensland Health is one of the largest and most secure occupiers in the Australian commercial property market.

As the principal provider of public healthcare services throughout Queensland, the department plays a critical role in servicing the rapidly expanding northern growth corridor. The continued investment into the Caboolture Hospital expansion, Satellite Health Centre network and surrounding healthcare infrastructure reflects the long-term strategic importance of this region within the broader Metro North Health catchment.

The tenant’s presence within 23 Rowe Street reinforces the property’s integration into the wider health and government precinct and provides investors with strong covenant security backed by essential service demand.

DEPARTMENT OF HOUSING

The Department of Housing forms a major component of the property’s income profile and provides another highly secure government covenant.

As population growth accelerates throughout Moreton Bay and surrounding growth fronts, demand for housing services, social support programs and community-based government services continues to increase. Caboolture has become a key regional service centre for the delivery of these programs across the northern corridor.

Government accommodation decisions of this scale are typically driven by long-term operational planning, workforce accessibility and proximity to the communities being serviced, further supporting the strategic importance of the location.

Peach Tree is a community based mental health organisation, which provides services for parents, partners, and families who are impacted by emotional and mental health challenges in the period of pregnancy and early parenthood.

Utilising trauma-informed, recovery-oriented, and person-led approaches, we aim to support health and well-being in the perinatal and early parenthood period. We use a Lived Experience Workforce which means that everyone who delivers our services and programs has personal insight and experience into the challenges of becoming a parent and raising small children. Our Peer Support Workers, Peer Educators and Peer Coaches are all dedicated to providing compassionate, meaningful, and inclusive support.

JAZ N GAZ CAFÉ OPERATOR

The on site café provides an important amenity component for both tenants and visitors to the precinct.

In modern office environments, particularly those servicing government and healthcare users, conveniencebased amenities such as cafés and breakout spaces contribute significantly to workplace functionality and staff experience.

The café benefits from the daily activity generated by surrounding government workers, health professionals, visitors and service users within the broader precinct, while also enhancing the amenity offering of the building itself.

A DIVERSIFIED AND STRATEGIC INCOME PROFILE

Collectively, the tenancy profile at 23 Rowe Street reflects the evolving role of Caboolture as a major regional health, government and community services hub.

Rather than relying on a single private-sector industry, the property’s income is underpinned by occupiers connected to Healthcare delivery, Government services, Housing support, Community services and Daily convenience retail. These sectors are closely tied to long-term population growth and essential service demand, creating a highly defensive and strategically positioned income profile within one of South East Queensland’s fastest-growing regions.

FOUR REASONS TO INVEST

1. GOVERNMENT-BACKED INCOME SECURITY

Anchored by Queensland Health and Department of Housing providing strong covenant strength and defensive income.

2. STRUCTURED INCOME GROWTH

Fixed annual rental increases of 3.5%–4% provide predictable, non-market-dependent income growth.

3. MODERN INSTITUTIONAL-GRADE ASSET

Completed in 2023, minimising near-term capital expenditure and supporting long-term holding efficiency.

4. STRATEGIC GROWTH CORRIDOR EXPOSURE

Located within Caboolture’s expanding health, education, and government precinct supported by major infrastructure investment.

UNDERSTANDING THIS PRECINCT

CABOOLTURE SATELLITE HEALTH CENTRE AN INTEGRATED HEALTH & GOVERNMENT PRECINCT

23 Rowe Street sits within one of the most important emerging health and government service precincts in the northern growth corridor.

The adjoining Caboolture Satellite Health Centre forms part of Queensland Health’s broader Satellite Health Centre program, established to decentralise frontline healthcare services and deliver greater access to community-based treatment facilities throughout South East Queensland.

Importantly, the Caboolture Satellite Health Centre is located directly at Rowe Street, further reinforcing the property’s strategic role within the broader health precinct.

From an investment perspective, the significance of this infrastructure extends well beyond the immediate tenancy profile.

Health precincts function differently to traditional office markets. Once established, major health and government service hubs naturally attract surrounding occupiers that benefit from proximity to healthcare infrastructure, government departments and allied service providers. This creates a clustering effect that reinforces long-term demand for surrounding commercial accommodation.

The ongoing expansion of the nearby Caboolture Hospital, combined with the establishment of the Satellite Health Centre, reinforces the long-term commitment of both State Government and Council to the precinct. The result is the emergence of a genuine integrated health and service precinct within the wider Caboolture CB D.

For commercial property investors, this creates confidence that the surrounding area will continue evolving as a key healthcare, government and community services destination servicing one of South East Queensland’s fastest-growing population catchments.

“We see 23 Rowe Street as part of a much bigger story — an integrated health and government precinct that is expanding alongside one of the fastest-growing population catchments in South East Queensland.”

– Ashley Rees. RWC Senior Analyst

Key infrastructure investment includes

1 $399.5M Caboolture Hospital expansion nearing completion

3 $60M TAFE expansion underway

4 $44M CBD revitalisation program in progress

UNDERSTANDING THIS REGION

Caboolture is evolving from a traditional regional township into one of South East Queensland’s most important emerging service centres.

Positioned within the City of Moreton Bay, the region forms part of one of Australia’s fastest-growing urban corridors, strategically located between Brisbane and the Sunshine Coast. This growth is no longer speculative. It is being supported by significant population expansion, sustained infrastructure investment, and a deliberate long-term planning strategy focused on decentralised economic growth.

The City of Moreton Bay’s long-term vision is centred around the creation of a “polycentric city” model, designed to establish multiple thriving CBDs across the region rather than relying on a single dominant commercial centre. Council has specifically identified Caboolture, Redcliffe and Strathpine as key strategic centres that will anchor employment, government services, healthcare, education, retail and civic activity throughout the region.

This strategy is particularly important for Caboolture CBD. The region is forecast to experience substantial population growth over the coming decades, underpinned by the emergence of Caboolture West and Morayfield South, which are expected to accommodate approximately 100,000 new residents. Combined with broader regional growth forecasts, the Caboolture catchment is rapidly evolving into one of the largest future population centres in South East Queensland.

Council’s revitalisation strategy acknowledges that this level of population growth requires significant long-term investment into jobs, services, healthcare, transport infrastructure and civic amenity. As a result, Caboolture CBD is currently undergoing a coordinated transformation designed to improve connectivity, amenity, accessibility and liveability.

Moreton Bay City Council has committed approximately $44 million toward Caboolture CBD revitalisation projects over the next five years, including upgrades to public spaces, civic infrastructure, accessibility, transport connectivity and integration with surrounding government landholdings.

Importantly for commercial property investors, this planning framework creates long-term confidence around continued public and private investment into the precinct.

As population increases, service demand follows. Healthcare, housing, education and government services all require physical accommodation close to the communities they support. This creates sustained long-term demand for modern office accommodation within strategic service centres such as Caboolture.

23 Rowe Street is positioned directly within this evolving growth story — benefiting not only from secure existing government income, but also from the long-term structural growth and strategic importance of the Caboolture CBD precinct itself.

Caboolture West & Morayfield South = 100,000* Residents

Elimbah North Investigation Area = 30,000+ new residents

Caboolture Catchment = 225,000* Residents

LOCAL AMENITIES

DISCLAIMER NORTHERN CORRIDOR GROUP

The information contained in this brochure and any other verbal or written information given in respect of the property (“Information”) is provided to the recipient (“you”) on the following conditions:

1. North Coast Commercial Properties Pty Ltd trading as Ray White Northern Corridor Group or any of its officers, employees or consultants (“we, us”) make no representation, warranty or guarantee, that the Information, whether or not in writing, is complete, accurate or balanced. Some information has been obtained from third parties and has not been independently verified. Accordingly, no warranty, representation or undertaking, whether express or implied, is made and no responsibility is accepted by us as to the accuracy of any part of this, or any further information supplied by or on our behalf, whether orally or in writing.

2. All visual images (including but not limited to plans, photographs, specifications, artist impressions) are indicative only and are subject to change. Any measurement noted is indicative and not to scale. All outlines on photographs are indicative only.

3. The Information does not constitute, and should not be considered as, a recommendation in relation to the purchase of the property or a solicitation or offer to sell the property or a contract of sale for the property.

4. You should satisfy yourself as to the accuracy and completeness of the information through your own inspections, surveys, enquiries, and searches by your own independent consultants, and we recommend that you obtain independent legal, financial and taxation advice. This includes as to whether any listing price is inclusive or exclusive of GST.

5. We are not valuers and make no comment as to value. “Sold/ leased” designations show only that stock is “currently not available” – not that the property is contracted/ settled. If you require a valuation we recommend that you obtain advice from a registered valuer.

6. The Information does not and will not form part of any contract of sale for the property. If an interested party makes an offer or signs a contract for the property, the only information, representations and warranties upon which you will be entitled to rely will be as expressly set out in such a contract.

7. Interested parties will be responsible for meeting their own costs of participating in the sale process for the property. We will not be liable to compensate any intending purchasers for any costs or expenses incurred in reviewing, investigating or analysing any Information.

8. We will not be liable to you (to the full extent permitted by law) for any liabilities, costs or expenses incurred in connection with the Information or subsequent sale of the property whatsoever, whether the loss or damage arises in connection with any negligence, default or lack of care on our part.

9. No person is authorised to give information other than the Information in this Information Memorandum or in another brochure or document authorised by us. Any statement or representation by an officer, agent, supplier, customer, relative or employee of the vendor will not be binding on the vendor or us.

10. To the extent that any of the above paragraphs may be construed as being a contravention of any law of the State or the Commonwealth, such paragraphs should be read down, severed or both as the case may require and the remaining paragraphs shall continue to have full force and effect.

11. You may not discuss the Information or the proposed sale of the property with the vendors or with any agent, friend, associate or relative of the vendor or any other person connected with the vendor without our prior written consent. We accept no responsibility or liability to any other party who might use or rely upon this report in whole or part of its contents.

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