Castlerock Property Announces $3.7 Million Sale of Centrelink Goondiwindi

Castlerock Property is proud to announce the successful sale of the Services Australia tenanted building in Goondiwindi for $3.7 million. The sale follows a highly competitive Expressions of Interest (EOI) campaign, which attracted over 250 inquiries, highlighting the strong demand for high-quality government-leased assets.

Purchased by a Queensland-based private investor, the property stands out for its robust tenant covenant and exceptional sustainability credentials. Purpose-built in 2010 to meet Commonwealth Government standards, the building recently underwent a comprehensive refurbishment, securing a seven-year lease with Services Australia.

One of the key highlights of the property is its 5 Star NABERS rating, the highest in Goondiwindi, reflecting its outstanding energy efficiency. This aligns with modern investment trends that prioritize sustainability and environmental performance.

Naomi Waters, Head of Property at Castlerock, commented on the achievement:

“The Goondiwindi property exemplifies Castlerock’s dedication to building a portfolio of high-quality, Commonwealth Government-leased assets. Our Services Australia Fund, established in 2008, continues to deliver strong results for investors by focusing on reliable, well-performing assets with long-term lease commitments.”

The sale underscores the growing appeal of government-leased properties, especially those offering secure tenancy, modern infrastructure, and sustainability features.

Castlerock Property worked closely with Elliott O’Shae and Sam Richards from JLL Middle Markets - Brisbane to secure this outstanding result.