Market Overview

Queensland’s commercial property market recorded solid mid-market activity this week, with notable sales across retail, mixed-use office, and industrial sectors. Investors remain focused on assets offering rental reversion potential, surplus development land, and strong locational fundamentals. Brisbane 2032 Olympic-related infrastructure projects are drawing increased interstate attention to commercial property in precincts slated for upgrades.

This Week’s Highlights

Sales by Sector

Office & Business Parks

• 360 St Pauls Tce, Fortitude Valley 
  OneFin bought a prominent Fortitude Valley office building for $10.55m. The three-storey asset offers approximately 1,400 sqm of net lettable area and 30 basement car parks on a 1,069 sqm mixed-use corner site. Zoning allows development up to 12 storeys. OneFin will undertake a full refurbishment, occupy part as its headquarters, and lease the remaining space.

• Brisbane Technology Park, Eight Mile Plains 
  Dexus Industria REIT sold all its remaining business park properties in Brisbane Technology Park to two buyers for a combined $155m — slightly less than independent valuation — and will reinvest into industrial assets.

Industrial & Logistics

• 2684–2692 Ipswich Rd, Darra 
  A Brisbane investor paid $9.4m for two modern industrial buildings constructed in 2008 on a 7,105 sqm site. The complex totals 3,863 sqm of GFA, configured into six tenancies and anchored by Rexel Electrical. The sale achieved a 5.38% yield. One tenancy expiring in October is significantly underrented, and the site benefits from prominent Ipswich Motorway exposure.

Retail & Large-Format Retail (LFR)

• Riviera Plaza, 4 Panitz St, Sorrento (Gold Coast)
  A Gold Coast investor acquired the 622 sqm Riviera Plaza neighbourhood centre for $8.525m on a 4.93% yield. The property sits on a 2,258 sqm island site, anchored by Roy’s by Gemelli. The off-market sale followed a major refurbishment and income uplift since its $2.4m purchase in 2020.

• The Woolcock Centre, 238–262 Woolcock St, Currajong (Townsville) 
  Unikorn Capital purchased this fully leased large-format retail complex for $11m on a 7.9% yield. The property offers approximately 5,800 sqm of GFA on a 2.3 ha site, with a WALE of 2.58 years by income and net income of about $870,000 pa (ex GST). Around 7,500 sqm of mixed-use-zoned land remains for future development.

• 22 & 24 Smiths Rd, Goodna (Ipswich)
  Two adjoining properties sold for a combined $2.132m on a 3.7% yield. The 24 Smiths Rd site is leased to Australia Post on a 10-year term, while 22 Smiths Rd is a vacant site with DA approval for future commercial development.

Childcare

• 43 Murrajong Rd, Springwood
  A Queensland investor paid $7.685m for a newly built 116-place Una Early Learning centre on a 5.53% yield. The property is secured by a 15-year net lease with 3% fixed annual reviews and was developed on a site amalgamated from three former residential lots.

Notable Leases (Metro Brisbane)

General News

The Queensland Government has updated its plans, creating new opportunities for commercial investors.

• New Venues: A new 63,000-seat stadium will be built at Victoria Park. The new swimming venue, originally planned as a government-funded project, will now be privately developed near the Gabba.

• Relocated Athletes' Village: The athletes' village has been moved from Northshore Hamilton to the Ekka showgrounds. This change opens up Northshore Hamilton for substantial private development.

• Woolloongabba Redevelopment: The Woolloongabba area will undergo a major transformation after the Games, though previous affordable-housing targets for the area have been removed.

• Faster Development: Economic Development Queensland is being restructured to accelerate project delivery and offer developers more flexibility.

These changes are expected to lead to faster development of new precincts, offering more opportunities for mixed-use and retail properties. The increased construction activity and infrastructure spending will likely lead to stronger demand in the commercial property market.

Final Take

Olympics-linked infrastructure and long-term precinct planning are already influencing commercial market activity in Brisbane. This week’s results highlight the ongoing demand for assets with rental growth potential, redevelopment scope, and strong locational fundamentals — from inner-city mixed-use sites to regional large-format retail complexes.

References

• Elks, S. (2025, August 7). Brisbane Olympics venue shuffle unlocks 26,000 homes. The Australian. Nationwide News Pty Ltd.
• Herde, C. (2025). Valley site is the one. The Courier-Mail, REAL COMMERCIAL, p. 51.
• Herde, C. (2025). Developer’s triple treat. The Courier-Mail, REAL COMMERCIAL, p. 52.
• LEASES. (2025). The Courier-Mail, REAL COMMERCIAL, p. 52.
• Herde, C. (2025). Retailer cheers a new, bigger HQ. The Courier-Mail, REAL COMMERCIAL, p. 53.
• Herde, C. (2025). Signed, sealed … sold. The Courier-Mail, REAL COMMERCIAL, p. 54.
• Herde, C. (2025). Fund snares retail hub. The Courier-Mail, REAL COMMERCIAL, p. 55.
• Olympic gold for Brisbane hotspots. (2025, Aug 12). Financial Review.

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.

Liability Limited by a Scheme approved under Professional Standards Legislation