Commercial Property

Portfolio focus: Generating income and creating capital assets for Indigenous communities.

Commercial property is a significant asset class within the IBA’s investment portfolio. IBA uses two investment methods to support current and future Indigenous investors:

  • specialised investments – for Indigenous investors with a strong desire to invest in assets that have strategic or community significance within their local area.
  • Indigenous Real Estate Investment Trust – for wholesale Indigenous investors seeking enhanced risk-adjusted returns via exposure to a diversified commercial property portfolio

Current Assets

Location Details
Image - Portfolio Profile - Retail - Warrabrook Warabrook Shopping Centre Stable income stream and capital growth from leases to private sector. Value add opportunity with restructuring the tenant profile to stimulate greater retail activity. This property was acquired to provide asset diversification in the I-REIT.
Scarborough House in Canberra Scarborough House, Atlantic Street, Woden, ACT Scarborough House was built in 1972 with IBA acquiring full ownership of the asset in December 2001. In 2005 IBA undertook a significant redevelopment of the property, extending the nett lettable area and transforming it into a vibrant, modern building. Scarborough House is classed as a B Grade Building with a 4.5 Star NABERS energy rating.
Government Centre, Katherine, Northern Territory Government Centre, First Street, Katherine, NT IBA purchased the building in June 2000 as part of its strategy to increase the geographical coverage of its investment portfolio. The Government Centre is a commercial property with ground floor and upper-level office accommodation centrally located in the Northern Territory inland centre of Katherine. A minor refurbishment to the common areas of the building was completed in 2010 with a full air-conditioning replacement completed by June 2013.
Goldfields Building, West Perth Goldfields Building 50 Colin Street, West Perth, WA IBA purchased the Goldfields Building in West Perth in November 2002 in partnership with two Indigenous organisations,  the Perth Noongar Foundation (PNF) and the Noongar Country Economic Foundation (NCEF). The building is located in the sought-after West Perth business precinct and provides office accommodation for a range of private sector clients associated with the resource sector.
Homestead Centre, South Hedland, Western Australia Homestead Centre Cnr Throssell and Tonkin Streets, South Hedland, WA In a joint venture with the Port Hedland Regional Aboriginal Corporation, IBA purchased the Homestead Centre in 1993. The property, with 13 tenancies and a nett lettable area of 1441sqm continues to perform well for our Indigenous partners.
IBA Building, Kalgoorlie Western Australia IBA Building 39–43 Boulder Road, Kalgoorlie, WA Purchased as a partially complete medical centre in 2003, IBA transformed the building into modern office accommodation. The property is tenanted by the Kalgoorlie Indigenous Coordination Centre providing an important range of services to the local community.
The Stoney Creek Stores at Halls Gap, at the Gateway to the Grampians National Park in Victoria. Stoney Creek Stores, Grampian Road, Halls Gap, VIC Stoney Creek Stores is a mixed use retail property incorporating retail outlets, a restaurant and a 30 unit motel at Halls Gap, located at the entrance to the Grampians National Park in Victoria. Purchased in September 2012 in partnership with a local Indigenous organisation, the property offers not only financial benefits but also the opportunity to develop property maintenance and management expertise, providing further opportunities for employment and training for its members.
Hemmant Industrial, 248 Fleming Road, Hemmant, QLD Purchased as an asset for the IREIT in July 2014, the Hemmant industrial investment consists of two cold food storage warehouses with a total net lettable area of 5,205 sqm. Building 1 was constructed in 1996 with an extension added in 2009 and Building 2 was constructed in 2013. Both buildings have temperature controlled environments, chiller and freezer areas and a modern office component upon entry into the premises. The whole premises are leased to a Gourmet Food Distribution Company servicing the Supermarket and Food industry till June 2026.
Townsville Central, 520 Flinders Street, Townsville Purchased as a seed asset for the IREIT, IBA acquired Townsville Central in May 2013. The property is a late 2008 constructed contemporary style 3 level commercial building that provides good quality A grade commercial office and retail accommodation to part of the ground floor.  With a diverse tenancy profile, Townsville Centrals core tenants are Aurizon (formally Qld Rail) and Veteran Affairs occupying 56% of the net lettable area.

Read about other asset groups within IBA’s investment portfolio including:

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