The Barracks, Brisbane
A Board-facing retail strategy for a heritage dining precinct with a stadium next door, and too many quiet hours in between.
A new owner, a heritage asset with good bones, and a precinct that wasn't trading the way its location says it should.
Aware Real Estate, the property investment arm of Aware Super, acquired The Barracks as part of its strategy to unlock value through active asset improvement and growth. The precinct sits on the fringe of Brisbane's CBD: 19,433 sqm of mixed-use space anchored by Coles, with food and beverage, boutique Palace Cinemas, and Suncorp Stadium across the road.
It also faced structural challenges: high vacancy, underperforming tenancies and limited daypart activation. Noble & Co. was engaged to develop a retail strategy the Board could act on.
A positioning for the precinct and a target tenant mix built around its three anchors: daily needs from Coles, evenings from Palace, event days from the stadium.
Written for the Board, not the leasing file: the case for each move, what it costs, what it returns, and in what order to do it.
A clear plan to fill vacancy, fix or replace underperforming tenancies, and extend trade across the day and week. Noble & Co. remains engaged as advisor to Aware Real Estate as the strategy is implemented.