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In a recent assessment of industrial land, local real estate operatives indicated there are ample options for hardstand rental in Pinkenba with land areas ranging between 4,000m² and 2Ha. Furthermore, market conditions for sales of vacant land is starting to show signs of slowing.  Typically, agents have indicated that high construction costs together with high land selling prices ar...

As 2024 unfolds, Brisbane is set to embrace a transformative wave of development projects that promise to reshape its skyline and infuse the city with new energy and opportunities. In this article, we take a closer look at the top developments. 1. Queen’s Wharf The Queen's Wharf development on the River in the CBD is at the forefront of Brisbane's transformation. It is a mixed-use pre...

The Australian industrial property market has experienced an unprecedented surge, propelled by soaring warehouse rents and a flurry of mega developments, driving its value to nearly $300 billion, according to recent research. Brisbane, in particular, has seen a significant transformation in the industrial landscape, fuelled by the e-commerce boom, which has boosted warehouse rents by 45% since...

Brisbane's office landscape is transforming as a new generation of workers, primarily Millennials and Gen Z, drive demand for innovative, eco-friendly workplaces prioritising health and wellbeing. According to recent research, this generational change is reshaping tenant priorities, focusing on reaching net-zero targets and fostering sustainable, wellness-centric environments. With Brisbane ...

A vacant office tower in Brisbane, once valued at nearly $160 million and owned by a Saudi-backed fund, is now attracting offers at nearly half its original value after languishing on the market for over 18 months. The tower, located at 41 George Street in Brisbane's government district, was acquired by the Basil Property Trust for $159 million in 2016. However, despite investing in upgrades to...

Horton Media Australia has purchased a five-story heritage-listed building in Brisbane CBD for $5.5 million, offering views of the Brisbane River and Botanic Gardens. Situated at 47 Edward Street, the Victorian warehouse showcases elegant classical detailing in its rendered and unrendered brickwork, spanning 772m2 of building area with dual frontage to Edward Street and Spencer Lane. This chara...

According to data from the Property Council, Brisbane's CBD vacancy rate increased from 11.6% to 11.7% in the six months leading up to January 2024. Prime segment vacancies, including Premium and A-grade spaces, stood at 10 per cent and are anticipated to drop to 8% by year-end. However, heightened construction costs have dampened the feasibility of new office developments, extending constructi...

We are often asked by tenants, and owners, what is the difference between a Bank Guarantee and a Cash Bond? Putting it simply, either is used by a lessee (tenant) to provide security to a lessor (landlord) for the performance of a lease. A Bank Guarantee is a written undertaking from a bank or financial institution to pay either the full amount of the security, or part thereof, should the les...

Australia Post has unveiled plans to construct a cutting-edge parcel delivery facility at the Brisbane Airport Industrial Park, with an investment exceeding $50 million. Expected to open its doors in early 2026, the StarTrack premium facility aims to revolutionise parcel processing in Queensland, boasting state-of-the-art sorting technology capable of handling up to 176,000 parcels daily. The 3...

Commercial property in Queensland is experiencing significant shifts, with CBD office rents poised to surge alongside Australia Post's substantial investment of $50 million in a cutting-edge airport parcel facility. The demand for prime office space in CBD towers is intensifying, driving rental rates to new heights, with premium building rents hitting the $1,000/m2 mark and inching closer to $1...

A West Australian fund manager has expanded its portfolio with the recent acquisition of a convenience centre west of Brisbane. The $23 million purchase of the Redbank Plains retail centre at 588 Redbank Plains Rd brings the fund's total assets under management to nearly $125 million. The property has a substantial landholding of 1.53 hectares, a floor area of 1,613m2, and a 5,227m2 license are...

The Brisbane CBD retail vacancy rate is currently around 19%, with greater vacancy in fringe locations away from core pedestrian thoroughfares.  Local real estate agents are indicating when tenants want to lease premises, they desire prime locations with high pedestrian foot traffic passing.  While the number of people in the CBD continues to slowly increase, stagnating gross effectiv...

According to recent reports, the Brisbane property market is expected to continue its upward trajectory in 2024. The housing market, in particular, has experienced a staggering 52% price growth since the onset of the COVID-19 pandemic, reaching a new peak. Despite the impressive growth, property sellers are cautious in 2024, with new listings in Brisbane 17.8% lower than the previous five-year...

In the last half of 2023, Brisbane’s Central Business District (CBD) saw a slight tightening in its retail vacancy rate, dropping from 19.5% in the first half of the year to 18.7%. Despite this improvement, it remained one of the highest among Australia's major cities. Yet, this high vacancy rate might be seen as an opportunity rather than a challenge for businesses looking for retai...

As we get into 2024, the commercial investment market shows signs of rejuvenation, and Brisbane is leading the charge. Brisbane's office market has outshone other Australian cities, boasting one of the lowest CBD vacancy rates in the country. According to recent data from the Property Council of Australia, the vacancy rate in Brisbane's CBD remained almost stable over the six months to January...

The commercial office sector in Brisbane is navigating a period of uncertainty as 2024 unfolds, with the primary concern shifting towards decreasing sales volumes. This decline appears to be driven by macroeconomic factors, especially vendor and purchaser price expectations. Brisbane's CBD is also witnessing decreased vacancy rates due to increasing occupancy. In the wake of shifting dynamics ...

According to development experts, the commercial property development market in Brisbane is up against a significant challenge: an insufficient number of builders to keep pace with the region's rapid growth and infrastructure demands as it heads into the next decade. Considering recent reports, there's concern over whether the current construction capacity can meet the scale of upcoming projec...

Brisbane’s office landscape has shown a remarkable turnaround and is expected to face a scarcity of prime-grade office spaces in 2024. The trend, a distinct "flight to quality," reflects the national market's inclination towards high-grade accommodations. According to recent news reports, the exceptional performance of Brisbane’s office market continues to surpass expectations. Bri...

Since inflation began to rise in late 2020, and peaking at 7.8% in December 2022, the Reserve Bank of Australia (RBA) continues to keenly observe how rising inflation is impacting the costs of everyday goods and services, both domestically and abroad. Seeking to bring inflation to within its target range between 2 -3 percent by adjusting the cash rate. Recent Monthly Inflation data (which only...

McGees Property Brisbane are thrilled to share with you the successful off-market sale of a prime commercial property, located just 9 kms from Brisbane’s CBD. This transaction not only highlights the vibrant nature of the local market but also reflects our commitment to delivering exceptional outcomes for our clients. The property features a substantial land size of 410m² and a buil...

Just like Brisbane, the Gold Coast has seen a few key factors pushing property prices to new highs in 2023: ·         Population Growth: The Gold Coast keeps attracting more residents, especially people moving from other states and retirees. ·         Affordability: Property prices on the Gold Coast ...

Looking to invest in commercial property in Brisbane in 2024? It's a great time for investors like you to take advantage of some exciting opportunities. Plus, with the 2032 Olympic Games on the horizon, things are looking even brighter. Keep your eyes on suburbs close to the city centre like Fortitude Valley, Milton, and Woolloongabba. These locations are not just close to the CBD, but they're...

As 2024 begins, the changing financial markets we faced in 2023 are still with us, especially as interest rates are likely to remain higher for longer. This situation is proving tricky for investors and developers who are feeling the pinch of mortgage stress. The pressure isn't just about interest rates either. Since the pandemic, costs for construction, maintenance, land taxes, and insurance ...

The industrial property market in SE Queensland is experiencing significant shifts, impacted by factors such as supply, demand, construction costs, and economic trends. Looking ahead to 2024, predictions suggest a nuanced landscape for these regions. Brisbane's Industrial Market: A Balancing Act In the second quarter of 2023, Brisbane's industrial market saw a rise in vacant space by 15%, rea...

Brisbane's Struggle and Signs of Renewed Interest According to the AFR, Brisbane’s Logan Hyperdome mall, listed at $700 million, failed to secure a buyer, highlighting the disconnect between seller and buyer expectations. This led to a reset in local shopping centre values, causing some assets to be withdrawn due to pricing ambiguity. However, glimmers of activity from other big players ...

The commercial property market in 2024 looks promising, with a period of transformation and opportunity across Brisbane, Gold Coast, and Sunshine Coast. Here are the top predictions set to shape these regions' commercial office landscapes in the coming year. Brisbane: Navigating Uncertainty Towards Stability Brisbane's commercial property market has weathered a turbulent period, facing inflat...

The Brisbane River has always been a great spot for locals, tourists and business owners. Whether you’re there for a gentle, quiet stroll along the riverside, taking in the sights of Brisbane’s skyline at sunset, or looking for a quality commercial office space or apartment with views, Brisbane’s riverside has lots to offer.  And it’s about to get busier. Two proj...

Southeast Queensland has been a hotbed of developments in recent years. As the already high population saw an increase in activity in 2023 that isn’t projected to slow down, the city continues to prepare for the Brisbane Olympics of 2032. Larger projects include Brisbane Live, an 18,000-seat arena dedicated to bringing top-tier entertainers to Brisbane from Australia and beyond, as well ...

As the end of the year draws near, Queensland’s capital city of Brisbane is experiencing one of the most incredible pricing booms since the end of the pandemic. Along with the rest of the country, Brisbane is expected to see a property price explosion in the coming year.  Following a spectacular 9.1% price increase since January 2023, many are wondering whether the city can keep up ...

Technology is taking over the world, and Brisbane’s commercial property market is no different. Smart building systems and Internet of Things (IoT) integration are changing how commercial properties are managed and operated. Buildings are no longer just brick and mortar, they’re now intelligent ecosystems where technology plays a seamless role to enhance efficiency, comfort, securit...

In the past decade or so, the commercial property market in Brisbane has experienced many transformations – and one of the key drivers for that is sustainability and increased demand for green buildings. This change is not only shaping new development, but also investment decisions. This month, we thought we’d look at how sustainability is influencing Brisbane’s prope...

In the last few years, the way we work has seen a lot of change, thanks to COVID restrictions sending people home for months on end. As we move back into the office, many companies are recognising that they no longer need such large work spaces – people are quite capable of working autonomously. This is not only saving those companies money on space, but also providing more flexible optio...

As we navigate the new fiscal year, property investors need to stay savvy with their tax strategies to maximise returns and minimise liabilities. With the right planning and advice, you can leverage tax to your advantage. Here are five essential tax tips for property investors. Engage a Good Accountant: A skilled accountant who specialises in property investment can help you navigate tax de...

As mentioned in our article What to expect in office property in 2023-24, sublease space in Brisbane is becoming more sought-after as businesses look at hybrid locations to run their operations. Rather than renting out an entire building, many businesses are leasing smaller spaces, where employees can go on a rotation system. And it’s proving popular. According to new research,...

The office property market is set for ongoing transformation as we dive into the new financial year. While we are experiencing economic uncertainties, the shift towards hybrid work models, and evolving tenant demands, commercial real estate is set for potential growth. The forecasted challenges in the market, including increased interest rates and possible recession, are expected to create a c...

According to new research by CoreLogic, residential property market movements in Brisbane have taken a turn as dwelling prices have shown signs of stabilising. The uncertainty around increasing interest rates likely played a part in changes in market conditions during the second half of 2022. Buyer confidence dwindled and attendance at open homes and auctions diminished. And with the tenth con...

Recent research has found there was a significant amount of interest in industrial property in the Brisbane area in 2022. Vacant space decreased by 14% in the fourth quarter and was 65% lower than a peak reached in 2021; it is currently at its lowest level in ten years. According to the Australian Industrial Review – Q4 2022, 1.1 million square metres of industrial space was taken u...

Brisbane is on the brink of a major transformation. Construction has been underway at 360 Queen Street, which when finished will be a beacon of modern architecture and reshape the skyline of Brisbane. The project represents a new chapter in architectural history for Brisbane. It uses cutting-edge technology and materials to produce a structure that is both aesthetically pleasing and structural...

Brisbane is on the brink of a major transformation. Construction has been underway at 360 Queen Street, which when finished will be a beacon of modern architecture and reshape the skyline of Brisbane. The project represents a new chapter in architectural history for Brisbane. It uses cutting-edge technology and materials to produce a structure that is both aesthetically pleasing and structural...

According to new research by CoreLogic, residential property market movements in Brisbane have taken a turn as dwelling prices have shown signs of stabilising. The uncertainty around increasing interest rates likely played a part in changes in market conditions during the second half of 2022. Buyer confidence dwindled and attendance at open homes and auctions diminished. And with the tenth con...

As inflation and cost-of-living concerns impact on the economic outlook, commercial property investors are expected to stay cautious until interest rates peak in 2023. Following a tumultuous year in 2022 in which the Central Bank raised interest rates eight times, the commercial real estate sector concluded on a sluggish note, with transactions stalling and confidence progressively declining. ...

The Property Council of Australia’s Office Market Report recently released has shed some light on the changing profile of the CBD and non-CBD office markets across Australia. The post-COVID-19 economy has been particularly challenging for some office locations, with many staff continuing to work from home. This shift has changed the nature of new take up of space and movement across regio...

Commercial property is a popular investment thanks to the historically higher rental returns, longer leases, and lower expenses than residential property, however, there’s no doubt the Australian market has been shaken by rising inflation, interest rate hikes, and recession fears. Still, the outlook is good. If you’ve decided to invest, here’s what you need to know. Office T...

The retail property outlook in Australia for 2023 is largely positive, with overall retail spending expected to continue its upward trajectory. In Greater Brisbane, retail property market conditions are particularly strong, and the city is seeing increased investment from retail developers looking to capitalise on growth opportunities. Retail vacancy rates for Brisbane remain low at around 5%,...

As office property demand remains strong in 2023, Brisbane will remain a key hub for office space. According to the recently released Property Council of Australia’s January 2023 Office Market Report, demand for office space in the city centre of Brisbane has shot up to more than four times the historical average. In the six months leading up to January 2023, the number of empty spaces i...

The industrial property market in Brisbane is anticipated to strengthen over the coming years, with industrial land and rental rates expected to increase in 2023. Demand for industrial space continues to grow, driven largely by increased interest from investors, coupled with high-value projects such as major infrastructure investments and urban regeneration efforts. This trend is expected to c...

Financing commercial property and development projects is a different proposition in the upward rate cycle we are experiencing, where bank policy and hurdle rates are changing faster than applications can be processed. Recently we caught up with James Kelder of Green Finance Group to discuss the approach that major financiers are taking to the changing landscape. Here’s what we’re s...

There’s no doubt the construction industry has had a lot of challenges in 2022. Here’s a few of them. Increase in materials cost The cost of materials is rising and there aren’t enough of them. This is especially true for wood, where states such as Victoria have promised to stop logging native trees by 2024. Not only that, but bushfires and floods have caused waves in su...

2022 Recap In 2021, house prices in Brisbane went up at the fastest rate in 13 years. Though growth slowed in other parts of Australia in the first half of 2022, Brisbane’s housing market continued to do well and unlike in Sydney and Melbourne, prices in the city are still much higher than they were a year ago. As of November, the median house price in Brisbane was $817,684. This is a d...

Prices to Stay Low According to the National Australia Bank, rising interest rates and the difficulty of obtaining a loan will keep commercial property prices low well into 2023. The NAB Commercial Property Index found it has become more difficult to obtain debt or equity funding in 2022, and there was an increase in the number of people who believed that debt and equity financing cond...

Despite ongoing pressure on household budgets, Queensland’s Retail trade has remained remarkably strong throughout the year, recording its 9th straight month of growth. Queensland’s seasonally adjusted retail turnover has increased by 9.7% over the past 12 months.Australian hospitality businesses are set to benefit the most from the imminent Christmas spending spree, with trade...

There’s not enough housing in Australia and we have a low level of institutional housing investment – despite having the world’s third largest pool of capital in our superannuation system. The Budget offers: A National Housing Accord Under a new national Housing Accord, the government is bringing together the states and territories, the Australian Local Government Associatio...

The Government has committed billions to the development of infrastructure in the next decade or so. These include: For Queensland, this includes $586.4 million to upgrade the Bruce Highway through Brisbane’s outer northern suburbs and $210 million to upgrade the Kuranda Range Road. In other states: New South Wales, $500 million for corridor acquisition, planning and early works...

This year’s Budget included aspects to help more Australians become home owners, through the following: Regional Guarantee for First-Time Home Buyers The government will help 10,000 eligible first-time buyers in regional Australia buy a home every year by guaranteeing up to 15% of the price. Helping Veterans Buy Their Own Homes The Defence Home Ownership Assistance Scheme will...

The development site space is the most talked about sector in our market at the moment. With development margins either being squeezed or non-existent, the conundrum that a project has strong underlying demand for the end product, but the financial viability of the project simply doesn’t stack-up is a common narrative. The result of this is downward pressure on site values as developers l...

Brisbane’s office market continues to show signs of recovery in net absorption and occupancy rates, assisted by a lack of new supply coming online and more workers returning to traditional office hours. Driven by significant population growth, major infrastructure investment, and a 13-year low in unemployment, the immediate future looks bright for our CBD. However, there is still a c...

Medical centres are actually some of the most sought after investment properties in the commercial market – they have good rental returns and stable tenants. But there are a few pros and cons you need to think about before going down the medical centre road. The positives To start with, the medical centre market remains largely unimpacted by changes to the economy like residential or re...

Click & Collect was first introduced to Australians in the early 2010s. In 2015 there were just 24% of retailers that offered the option, and 2019 that figure was at 40%. During the COVID-19 pandemic, more Australians shopped online than ever before. According to stats, there were 1.7 million new online shoppers in 2020; with 1.4 million of those households continuing to buy online in 2021...

After an unprecedented period of uncertainty caused by the pandemic, growth in Queensland’s hospitality and tourism sector is back on the agenda. Of all the Australian Capital’s, Brisbane is showing the strongest recovery and leads the nation in domestic overnight expenditure, despite having a much smaller economy than our friends down south. Since Brisbane was announced as the ho...

There’s no doubt property is booming across Queensland, with prices skyrocketing for sales and leases in every property market. This trend has led to growth in places like the Gold Coast and Sunshine Coast, where prices are growing much faster than in Brisbane. And where increased housing demand has led to greater infrastructure projects and more appeal for commercial property. Most ana...

Interest Rates, Australia 10-Year Bond, Weaker AUD where to from here? With the Reserve Bank of Australia (RBA) raising the Official Cash Rate on Tuesday by 25bps to 2.6%, commercial property investors and developers will be looking to reassess where they see real value and how much risk appetite they are willing to accept. The rate hike marks the sixth rise from the RBA since May this year, w...

The Gold Coast has been a hotspot for development since the economy began to roar back to life this year, following two years of lockdowns and loss of employment and loss of industrial activity. The construction industry across the country has been crying out for new developments and the Gold Coast has not disappointed. With much to be excited about in 2022 and beyond, construction in Australia...

While the housing market is absolutely on fire, the same cannot necessarily be said for the retail market in Brisbane. According to industry reports, Brisbane recorded a retail property vacancy rate of 18.9% in H1 2022. Though that might sound discouraging, according to Herron Todd White, Brisbane’s retail economy and therefore retail property is on its way back to its best. ...

The coastal vibe of Maroochydore is currently one of rapid expansion, amid economic growth that has spurred a construction boom across the country that has now reached the shores of Maroochydore. The Sunshine Coast Council has approved a plethora of new building projects – over 500 units of housing have been approved by the council. It’s a good thing too, as there’s be...

According to a survey of Property Council members, Australia’s property industry has less confidence because of the current state of the economy. The survey found that the overall Confidence Index fell 19 points in the June quarter. Ken Morrison, the CEO of the Property Council of Australia, said confidence was down because of things like inflation, a lack of skilled workers, and broken ...

National Australian Built Environment Rating System (NABERS) is a sustainability measurement used across the building sector. It’s a simple and reliable way to measure the sustainability of offices, shopping centres, data centres, hotels, and apartments, etc. It’s part of the Australian initiative to achieve the 40% energy productivity target of 2030 and falls under the National Ene...

Land Lease Communities are growing in popularity all over Australia with some states offering more than 500 communities. Are they a solution to affordable housing? Let’s take a look. What Are Land Lease Communities? A land lease community gives you the chance to own a building, without buying the land – which is usually the big expense when purchasing property. It’s an oppor...

While there has been a lot of focus on where there are enough child care workers to meet demand, a more important question to ask is: are there enough child care centres to meet demand? We are at the tipping point. According to a survey from Australia Talks, 57% of rural families struggle to access child care. This compared to just 41% of families in inner-metro areas. Child care is a vit...

Whether you own a single commercial property or an entire portfolio, its success hinges on effective management. The owner will need to go to great lengths to ensure they meet the needs of both the building and the tenant. It’s a time-consuming prospect. It also requires expertise that not every commercial property owner has. As such, commercial property owners should consider enlisting t...

COVID changed the way we operate as a society. It forced businesses to change processes; it reshaped working from home, and the result was big wins or major losses depending on which sector you operate within. Commercial property was no different. Within the sector, there were winners and losers. Which is why it’s a good time to ask the question – what makes a good investment post-C...

While COVID has impacted the world over, at McGees Property, we have been lucky to remain operating in full capacity throughout 2021. However, after 2020, we made changes to adapt to the shifting world, just as many businesses were forced to do. Much like others, our first step was to introduce new advanced technology. While video technology was a large part of that, technology as a whole allo...

The cost of the average new build has hit its fastest increase in over 20 years – largely due to the increased cost of construction material and labour shortages. The situation with materials was at its worst from March until May, lengthening lead times and seeing prices soar. The worst of it impacts the domestic sector and this is expected to improve no earlier than the first q...

When it comes to commercial real estate, COVID-19 has certainly impacted several sectors, many of which are still uncertain. However, some areas defied the odds to buck the trend – and service stations (or fuel stations) is one of them. Service stations have thrived over the past 12 months as a business (and an investment). Many people avoided public transport for travel and othe...

Los Angeles. Paris. London. Brisbane. After the announcement in July, the Queensland capital will join the list of iconic Olympic cities in 2032. Brisbane will be the 24th city to host the Games and the third capital in Australia after Melbourne 1956 and Sydney 2000. Premier Annastacia Palaszczuk said that the economic modelling showed the Games has the potential to drive Queensland&rs...