10/01/2025

McGees Wrap Up 10th of January 2025

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Happy New Year! Welcome to the first McGees Wrap Up of 2025

 

This Week’s Commercial Transactions in Queensland 

Queensland's commercial property market saw notable activity this week across development, retail, and office sectors, reflecting continued investor confidence in high-visibility locations, redevelopment opportunities, and versatile office spaces. Here is a breakdown of key transactions: 

 

Development 

James Street Precinct, Brisbane, QLD 

  • Address: 88 Robertson Street 

  • Details: Goldfields lodged a development application for an A-Grade office building offering approximately 16,000 sqm of commercial space. The project will feature rooftop dining, ground-floor cafés, winter rooms, and integrated gardens. Designed to achieve a 5-star Green Star rating, construction is scheduled to commence in September 2025, with completion anticipated by October 2027. This project aims to address the low vacancy rates in Brisbane's prime fringe office market. 

Beerwah, QLD 

  • Address: 23 Creek Crescent, Beerwah, QLD 4519 

  • Sold: $1,550,000 

  • Details: This 3,174 sqm industrial allotment in Beerwah’s industrial precinct offers two street frontages, allowing for drive-through access. The fully benched and service-ready site, with no easements, is zoned Medium Impact Industry and ideal for various industrial uses. Its prime location provides excellent access to the Bruce Highway, making it a strategic asset for industrial development. 

 

Retail 

Mount Pleasant, QLD 

  • Address: 14 Discovery Lane 

  • Sold: circa $2,900,000 

  • Details: A 1,301 sqm large-format retail centre anchored by Choices Flooring and supported by L’Amour Furniture. The property offers an estimated net income of $216,810 per annum, with opportunities for owner-occupancy or rental uplifts. Located at a prime corner site with exposure to over 364,000 weekly vehicles, the property has significant development potential. 

Teneriffe, QLD 

  • Address: 36D Vernon Terrace 

  • Sold: $1,250,000 

  • Details: A 114 sqm ground-floor strata unit with a high-end fit-out, suitable for medical, allied health, consultancy, or office use. The property, located in Brisbane’s vibrant Teneriffe area, offers vacant possession, high visibility, and proximity to the CBD. 

Tewantin, QLD 

  • Address: 7/113 Poinciana Avenue, Tewantin, QLD 4565 

  • Sold: $225,000 

  • Details: A 65 sqm ground-floor retail or office space located in the heart of Tewantin’s CBD. This air-conditioned unit features an open-plan layout, dual access, and excellent pedestrian access from the rear car park to the main street. Its location within a vibrant retail precinct makes it suitable for retail, office, or medical uses. 

 

Office 

Newstead, QLD 

  • Address: 8/34 Commercial Road 

  • Leased: $60,000 per annum 

  • Details: A 140 sqm versatile office space featuring an open-plan layout, boardroom, private patio, and three secure undercover car parks. Situated in the bustling Newstead precinct, the property offers excellent access to amenities including James Street and Gasworks. 

North Ipswich, QLD 

  • Address: 61 Pine Mountain Road, North Ipswich, QLD 4305 

  • Sold: $2,525,000 

  • Details: This high-profile, purpose-built freehold building spans 773 sqm and includes 16 office areas, a conference room, kitchen facilities, and a basement with a backup diesel generator. The property, currently home to River 94.9 Radio Station, is located on a 2,721 sqm block with 15 dedicated parking spaces. The owners will sign a five-year lease with an option for another five years, offering investment stability or future land-banking opportunities. 

 

 

This week’s transactions highlight the diverse opportunities in Queensland’s commercial property market. The proposed development at 88 Robertson Street signifies growing demand for premium office space in Brisbane's fringe areas, while retail properties in Mount Pleasant and Teneriffe underscore investor interest in high-visibility, income-generating assets. Office leasing activity in Newstead reflects the continued appeal of Brisbane’s vibrant inner-city precincts. As these developments unfold, Queensland continues to demonstrate resilience and growth in its commercial real estate sector. 

For a complete list of weekly commercial transactions in Queensland, visit McGees Wrap Up | McGees Property Brisbane

Disclaimer: The information provided in this blog is for general informational purposes only and does not constitute legal, financial, or professional advice. While we strive for accuracy, we make no guarantees regarding the completeness or timeliness of the content. Always seek independent advice before making any financial or real estate decisions. We are not liable for any loss or damages arising from your reliance on the information provided.

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