The Queensland commercial property sector continues to demonstrate nation-leading resilience, with the NAB Commercial Property Index recording a state-wide reading of +55, significantly outperforming New South Wales and Victoria (McDonald, 2026). While the Brisbane office market faces a significant supply squeeze, the industrial and development sectors remain standout performers, buoyed by a "flight to quality" and strategic acquisitions in high-growth corridors. Investor sentiment remains robust despite broader federal fiscal changes, as the state's fundamental undersupply of industrial land and acute housing shortage continue to drive competitive bidding (Herde, 2026a; ANZ Research, 2026).
This Week’s Highlights
SOLD Transactions
| Property Address | Sector | Price | Key Details | Ref |
|---|---|---|---|---|
| 109 Logan Rd, Woolloongabba | Development | $21,000,000 | 3,297 sqm site. PDA potential for 36 storeys. Purchased by a QLD developer. | (Herde, 2026a) |
| 1640 Ipswich Rd, Rocklea | Industrial | $14,000,000 | 1.04ha site. Features Expo 88 refurbished warehouse. Owner-occupier purchaser. | (Herde, 2026c) |
| 13-17 Northward St, Upper Coomera | Industrial/Office | $7,400,000 | 5,835 sqm site. Slated for 27 strata-titled units. Purchased by Natgen. | (Herde, 2026g) |
| 383 & 393 Hawkesbury Rd, Anstead | Development | $6,150,000 | 3.3ha site. Zoned low-density residential. Yield of 22 lots ($279,545/lot). | (Herde, 2026f) |
| 163 Annerley Rd, Dutton Park | Medical | $5,100,000 | 1,801 sqm site. 707 sqm office. Purchased by a consortium of doctors. | (Herde, 2026e) |
| 3 Station St, Pomona | Mixed-Use | $3,750,000 | 1,777 sqm site. 5 strata units. Net income $204,360 p.a. | (Herde, 2026i) |
| 2/28 Dunhill Crest, Morningside | Industrial | $2,800,000 | Cold storage/food processing asset. Purchased by a local F&B tenant. | (Herde, 2026c) |
LEASED Transactions & Activity
| Property/Project | Sector | Status | Details | Ref |
|---|---|---|---|---|
| 109 Logan Rd, Woolloongabba | Office/Medical | Leaseback | Spinal Life Australia leasing back while new HQ is completed. | (Herde, 2026a) |
| Airport Industrial Park (Stage 2) | Industrial | Pre-leasing | Fast-tracked due to Stage 1 sell-out. 27,000 sqm of lettable area available. | (Herde, 2026b) |
| 450 Queen St, Brisbane CBD | Office | Active Leasing | 18,000 sqm A-Grade repositioning. Opening early 2027. | (Herde, 2026h) |
| Waterfront Brisbane (North Tower) | Office | Pre-committed | 73,000 sqm project. Reported to be 70% pre-committed. | (Herde, 2026h) |
Development – Woolloongabba Priority Development Area
A Queensland-based developer has acquired a 3,297 sqm corner site for $21 million from the non-profit Spinal Life Australia. The property holds significant upside within the Woolloongabba PDA; while currently approved for 203 apartments across 20 levels, updated zoning allows for code-assessable development of up to 36 storeys. The vendor will lease back the premises in the medium term, providing the buyer with holding income while they seek to amend the approval to capitalise on the enhanced density provisions (Herde, 2026a).
Industrial – Rocklea Expo Heritage Asset
An owner-occupier has purchased a 10,440 sqm General Industry C-zoned site for $14 million. The property features approximately 4,000 sqm of office and warehouse space, including a structure originally built for the 1988 Brisbane Expo. The sale price reflects a 108.96 per cent capital uplift since 2021, highlighting the extreme value currently placed on heavy industry-zoned land where replacement costs often exceed existing asset pricing (Herde, 2026c).
Retail – SEQ Shopping Centre Portfolio
Various Locations, South East Queensland
Consolidated Properties Group and CVS Lane have returned a portfolio of six shopping centres to the market, with price expectations between $500 million and $600 million. The portfolio includes assets in Karalee, Palm Beach, Wilsonton, Springwood, Keperra, and Yeerongpilly. The move capitalises on the resurgence of institutional interest in supermarket-anchored retail assets that offer resilient, non-discretionary income streams (Herde, 2026d).
Medical – Dutton Park Precinct Acquisition
163 Annerley Road, Dutton Park
A consortium of doctors has acquired a medical suites hub for $5.1 million, reflecting a capital rate of $7,213/sqm. The 1,801 sqm site is located directly opposite the Boggo Road health and retail precinct. The buyers intend to occupy a portion of the 707 sqm office area and lease the balance, underscoring the strong demand from owner-occupiers within inner-city health corridors (Herde, 2026e).
Development – Anstead Residential Hub
383 & 393 Hawkesbury Road, Anstead
Sydney-based developer Kingsmede has secured a 3.3ha residential site for $6.15 million. Slated to yield 22 boutique housing lots, the transaction represents the largest development site sale in the Anstead-Moggill catchment in recent years. The pricing reflects a rate of $279,545 per lot, driven by the acute housing shortage in Brisbane’s western corridor (Herde, 2026f).
General News
- Brisbane’s CBD office market is facing its tightest supply squeeze in a decade, with net effective rents projected to reach $2,000/sqm by 2029. Comment: With only one new tower currently under construction and prime vacancy at 8.6 per cent, businesses are increasingly looking at adaptive reuse of older B-grade buildings to mitigate soaring costs and delivery delays (Herde, 2026h; Colliers, 2026).
- The Federal Budget’s removal of the 50 per cent capital gains tax discount for individuals and trusts is expected to impact retail investors, particularly in the small-cap and tech sectors.
Comment: This tax shift may result in a modest de-rating of growth stocks, potentially increasing the relative appeal of high-yield commercial property assets for investors seeking consistent income over capital gains (Gluyas, 2026). - Queensland’s construction sector is grappling with a projected shortfall of 19,100 workers over the next seven years due to the state’s massive infrastructure and Olympic Games program.
Comment: This labour shortage is causing private commercial tower construction to grind to a halt as builders prioritise lower-risk government projects, further exacerbating the office supply deficit (Herde, 2026h; Construction Skills Queensland, 2026).
Final Take
This week’s activity reinforces Queensland's status as a top-tier destination for both institutional and private capital. While the "survival story" of CBD office development highlights significant headwinds in the construction sector, the aggressive bidding for industrial assets in Rocklea and medical suites in Dutton Park demonstrates that demand for established, well-located assets remains white-hot. As federal tax changes shift the landscape for retail investors, the fundamental value of Queensland land and the looming 2032 Olympics continue to provide a solid floor for commercial valuations.
References
ANZ Research. (2026). Commercial Property Update – Q2 2026. ANZ Bank.
Colliers. (2026). Brisbane 2032 Olympic and Paralympic Games: Creating Solutions. Colliers Queensland.
Construction Skills Queensland. (2026). Horizon 2032 Report. CSQ.
Gluyas, A. (2026, May 13). Small caps, tech stocks at risk as budget hits retail investors. The Australian Financial Review.
Herde, C. (2026a, May 8). Future goes sky high. The Courier-Mail.
Herde, C. (2026c, May 8). Local buyer cuts a $14m deal for Rocklea industrial property. The Courier-Mail.
Herde, C. (2026d, May 8). Shopping centre portfolio returns to market. The Courier-Mail.
Herde, C. (2026e, May 8). Doctors snap up suites. The Courier-Mail.
Herde, C. (2026f, May 8). Housing estate future. The Courier-Mail.
Herde, C. (2026h, May 14). Brisbane businesses slugged as office rents soar and tower construction grinds to a halt. The Courier-Mail.
McDonald, B. (2026). Commercial market resilient: NAB Commercial Property Survey Q1 2026. NAB Economics.
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