Castle Hill Village in Murrumba Downs has changed hands, marking a significant retail property transaction in Brisbane’s northern suburbs.
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Located at 264 Dohles Rocks Road, Castle Hill Village occupies a 9,733 square-metre site and is anchored by an IGA supermarket and a McDonald’s restaurant with drive-through. The centre also includes a BWS liquor outlet, a medical centre and a range of specialty tenancies spread across three separate buildings.
The property had been held by Perth-based Westbridge Funds Management since 2017, when it was acquired through a vehicle associated with Mair Property Funds. That purchase represented the group’s first investment in Queensland.
The recent transaction was managed by CBRE’s Michael Hedger and Joe Tynan, who oversaw the marketing campaign. Reports indicate that the property traded for about $21.2 million, reflecting a net passing yield of around 5.5 per cent. The buyer has not been publicly identified.
Castle Hill Village comprises 16 tenancies and services the surrounding residential catchment in Murrumba Downs and nearby northern Brisbane suburbs. Its tenant mix focuses on everyday retail and essential services, including grocery, food, health and convenience offerings.
For residents in Murrumba Downs and neighbouring communities such as Albany Creek, centres like Castle Hill Village play a practical role in daily life. With a supermarket, takeaway dining and medical services in one location, the centre provides a convenient stop for routine errands along Dohles Rocks Road.
Westbridge’s divestment of Castle Hill Village follows an eight-year holding period. The group originally secured the asset as part of a broader strategy to invest in income-producing retail properties supported by established tenants.
There has been no announcement of immediate changes to tenancies or operations at Castle Hill Village following the transition in ownership.
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The transaction adds to activity in Brisbane’s suburban retail property market, particularly for centres anchored by supermarkets and national food operators. Assets with established tenants and stable income streams continue to draw attention from investors seeking neighbourhood retail exposure.
For local shoppers, the change in ownership is unlikely to affect day-to-day visits. Castle Hill Village remains a familiar retail hub for households across Murrumba Downs and Brisbane’s north, continuing to provide essential services within easy reach of home.
Published 12-February-2026
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