Aware Real Estate and Barings have each acquired a 50 per cent interest in Home HQ Artarmon from a fund managed by Growthpoint Properties Australia for $180.1 million. The transaction followed an international expressions of interest (EOI) process managed by JLL and McVay Real Estate.
Home HQ is located at 1 Frederick Street in Artarmon on Sydney’s Lower North Shore. The centre is situated within a precinct that includes health, commercial and residential uses, and has access to major roads and two nearby rail stations.
“This acquisition is strongly aligned with our east-coast retail strategy. The asset’s dominant trade area, proven leasing depth and tenancy diversification make it an attractive addition to our portfolio,” said Zak Felton, director, transactions at Aware Real Estate.
Since acquiring the asset in 2018, the Growthpoint managed fund has repositioned Home HQ through $9 million of capital investment and a targeted leasing program. The proportion of GLA leased to national or ASX-listed tenants has risen from 71 per cent at acquisition to 93 per cent. More than 3,400sqm was leased in FY25, including Depot Brewery as a key food and beverage tenant.
“We are proud to have delivered this strategy,” said Sam Sproats, CEO, funds management, at Growthpoint. “With a full house of complementary tenants, the new owners can look forward to strong demographic growth. As we realise the value of the asset at the end of the fund term, our investors can be very satisfied with the value created.”
Home HQ comprises 23,135sqm of GLA across three levels and was completed in 2010. Key tenants include Freedom Furniture, Nick Scali and The Good Guys, alongside 25 additional homemaker tenancies. The asset holds 6-star Nabers Energy and 6-star Nabers Water ratings. Rooftop solar and greywater systems support operational efficiency and ESG compliance.
For Barings, this is the third acquisition for its Brava V fund since September 2025. Gareth Price, head of real estate, Barings Australia, said the centre continues to demonstrate strong performance and tenant demand due to its scale, scarcity and established trading position, and added that the firm is to continue its partnership with Aware Real Estate.
Nick Willis, executive director of retail investments Australia and New Zealand at JLL, said Home HQ Artarmon represents a rare opportunity to secure an LFR asset close to central Sydney during a period of reduced supply. It is the largest LFR transaction in Australia since 2022.
Sam Hatcher, head of retail investments Australia and New Zealand at JLL, said the conversion of standalone assets into mixed-use residential projects has reduced LFR floorspace across Sydney’s northern corridor.
“Retail property continues to be in demand with capital due to the asset class’s robust fundamentals, irreplaceability and proven income growth. These factors generated strong enquiry for Home HQ Artarmon during the EOI process.”
“The sale of Home HQ Artarmon is the second-highest rate per square metre ever achieved for an LFR centre in Australia. Investors were drawn to the secure net effective cash flows, diminishing supply levels, strong tenant retention and the inner-ring Sydney metro location,” said Sam McVay, managing director, McVay Real Estate.
“LFR has typically been a domestic-capital game, however, we received strong offshore bidding, which we expect is the beginning of a larger push into the sub-sector,” he added.
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