This week’s commercial property market in Queensland saw a diverse range of transactions across development, industrial, office, retail, and rural sectors. Significant leases, government acquisitions, and high-profile rural property sales highlighted the ongoing demand for strategically located assets. With major deals in both urban centres and rural regions, Queensland continues to offer strong investment opportunities.
This Week’s Transaction Wrap
Development & Land:
Woolloongabba, QLD
·Buyer: Queensland Government
·Sale Price: $14.3 million
·Property: PA Apartments at 40 Wolseley Street
·Details: A five-storey serviced apartment block with 40 units, purchased for emergency accommodation. The building offers amenities such as a pool, BBQ area, and 23 secure car parks on a 1,014 sqm site near the PA Hospital.
·Yield: 7.3%
·Commentary: The Queensland government continues to expand emergency housing infrastructure in key locations across the city.
Industrial:
Northgate, QLD
·Tenant: MGA Electronic Security
·Lease Details: Two-year lease for a 238 sqm warehouse and office at 4/252 Earnshaw Road
·Rent: $59,500 net per annum plus GST
·Commentary: Brisbane’s northern suburbs remain a key area for industrial leasing, with strong demand for functional spaces like the Northgate facility.
Brendale, QLD
·Tenant: Honour Building Projects
·Lease Details: Two-year lease for a 472 sqm industrial unit at 9/50-52 Kremzow Road
·Rent: $70,000 per annum plus GST and outgoings
·Commentary: Brendale's industrial market continues attracting tenants seeking affordable and well-located spaces in the Moreton Bay region.
Hendra, QLD
·Tenant: Global Medical Supplies
·Lease Details: Three-year lease for a 344 sqm industrial unit at 11/191 Hedley Avenue
·Rent: $75,000 net per annum plus outgoings and GST
·Commentary: The strategic location in Brisbane’s north-east makes this industrial unit a valuable asset for the growing medical supplies sector.
Office:
Tingalpa, QLD
·Buyer: Summit Road Investments (linked to Morgan Project Services)
·Sale Price: $5.2 million
·Property: 1-6/1027 Manly Road, a two-level, 1,120 sqm strata office building
·Details: Sold with 72% occupancy, the building includes six strata-titled office units. Morgan Project Services will occupy 320 sqm.
·Yield: 4.9%
·Commentary: Strategically located office spaces remain in demand in Brisbane’s southeast, especially for part-owner occupiers like Morgan Project Services.
Brisbane, QLD
·Tenant: Australian College of Tourism and Information Technology
·Lease Details: Three-year lease with an option for 305 sqm within the Mantra Hotel and Suites at 570 Queen Street
·Rent: $132,000 gross per annum plus GST
·Commentary: This prime CBD location offers excellent visibility and access, reflecting the continued demand for educational and commercial space in Brisbane’s city centre.
Retail:
West End, Townsville, QLD
·Buyer: National Tiles
·Sale Price: Under $2 million
·Property: 1,303 sqm showroom, warehouse, and office space at 151-155 Ingham Road
·Commentary: National Tiles’ move to Townsville’s West End reflects growing demand for retail and industrial spaces in regional Queensland.
Rural:
Central Highlands, QLD
·Sale Price: $87.1 million for three properties
·Properties: Fairfield Station, Kurrajong Park, Wongaburra
·Details:
o Fairfield Station: 10,522ha sold for $49 million, equating to $4,657/ha. Purchased by the Dennis family.
o Kurrajong Park: 3,237ha sold for $26.1 million, or $8,063/ha. Purchased by Rob and Annie Donoghue.
o Wongaburra: 2,423ha sold for $12 million, or $4,953/ha. Purchased by the Nobbs family.
·Commentary: Strong demand for premium grazing land in the Central Highlands led to significant sales, with buyers securing some of Queensland’s most productive cattle properties.
Wrap-Up Summary
This week’s transactions underscore the strength of Queensland’s commercial property market, spanning urban, industrial, and rural sectors. The government’s $14.3 million purchase in Woolloongabba for emergency accommodation, strong industrial leasing in Northgate and Brendale, and the Australian College of Tourism and Information Technology’s lease in Brisbane’s CBD highlight the diversity of demand. Additionally, rural property sales totalling $87.1 million in the Central Highlands demonstrate the ongoing strength of Queensland’s agricultural market. From urban centres to regional hubs, the state continues to offer a broad range of opportunities for investors and occupiers alike.
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