Newly established large format retailer, Home Furniture Bedding & Outdoor is set to open its first Queensland store, following a recent lease agreement for a site in Aspley.

The 1,781sqm standalone showroom, located at 1424 Gympie Road, benefits from significant street frontage with exposure to approximately 70,000 vehicles per day and a prime location in a tightly held retail precinct, surrounded by some of Australia's biggest brands in home shopping.

The site was previously leased to discount furniture retailer, Big Brand Outlet, which occupied the showroom for over 15 years. 

CBRE's Large Format Retail Team for QLD, Andrew Brimson and Damian Crocetti, negotiated the lease agreement on behalf of a private client, with the new tenant being secured before the expiration of Big Brand Outlet's lease. Home Furniture Bedding & Outdoor is expected to be open and trading by May.

The rental has not been disclosed by CBRE, however sources suggest that the site would have drawn a rental ranging between $200 per sqm and $250 per sqm per annum net, based on rentals achieved for showrooms in the precinct.

Mr Brimson said CBRE's leasing campaign generated a high level of interest from a variety of large format retailers both locally and nationally, underpinned by the site's high-profile position in a highly sought after showroom precinct. 

“The tenant was attracted to the site due to its strategic location in a well-established furniture and bedding precinct close to major national retailers, which include the likes of Harvey Norman, Nick Scali and Freedom.”

“The continued strength of the household goods sector in South East Queensland is giving new retailers confidence to establish themselves in the market and to profit from favorable conditions,” said Mr Brimson.