Week Ending 17 April 2026

Office – 288 Edward Street

288 Edward Street, Brisbane

A venture led by Marquette and backed by Heitman has listed the 28-level office tower, known as Highpoint, with price expectations of approximately $160 million. The 20,457sq m A-grade building underwent a $35 million refurbishment following its $113 million acquisition in 2019. The repositioning focused on facade upgrades and ground-floor works to meet evolving occupier demands for high-quality workspace near Central Station (Wilmot, 2026).

Retail & LFR – Fantastic Furniture Rockhampton

143 Gladstone Road, Rockhampton

A Victorian property syndicate has acquired a 3,305sq m high-clearance showroom for $9.5 million, reflecting a net yield of 6.54 per cent. The asset, situated on a 6,907sq m site with significant Bruce Highway frontage, is secured by a 10-year lease to Greenlit Brands (Fantastic Furniture) with options to 2044. The deal highlights sustained investor appetite for national-brand covenants in regional hubs (Herde, 2026c).

Medical – Former Officeworks Site

Hume Street, Toowoomba

The former Officeworks site in the Toowoomba CBD has sold for $7.25 million to a Brisbane-based medical fund manager. The 3,900sq m parcel, which includes 44 car parks, is slated for transformation into a healthcare precinct. This transaction represents the largest CBD sale in Toowoomba over the past 12 months, signaling a strong pivot toward medical-use conversions of existing built forms (Gillespie, 2026).

Industrial & Development – Varsity Lakes Industrial

6 Rina Court, Varsity Lakes

A 28-year-old shed on a 1,450sq m block has set a new Gold Coast industrial benchmark, selling for $2.71 million at auction. The rate of approximately $6,062 per square metre reflects the intense demand from owner-occupiers seeking functional transport and haulage depots. This result surpasses modern tilt-slab rates in nearby Burleigh Heads, which currently average $5,000 per square metre (Potts, 2026a).

General News

• Business owners across Queensland have expressed heightened concern regarding potential fuel rationing as the nation remains at stage two of the federal government’s emergency fuel plan (Levinson, 2026). Impact: If fuel issues drag on, higher transport and delivery costs will adversely impact on industrial tenants. Builders, construction firms will face more expensive material. Deveopers will push back the start of any new projects.
  
  
• Queensland's trust laws are set for a major update with the Trusts Act 2025 expected to commence on 28 April 2026 (Smith, 2026). This is to replace the outdated Trusts Act 1973
  Impact: This legislative shift simplifies trust administration and grants trustees broader powers, providing greater flexibility and transparency for the many commercial property assets held within family and discretionary trust structures. For the first time, core trustee duties,such as acting honestly, in good faith, and exercising reasonable care, diligence, and skill,are clearly defined in the legislation. You can learn more here
  
  
• The Paddock Bakery site in Burleigh Heads has hit the market as part of a 4,261sq m landholding, attracting significant developer interest for its future repositioning potential (Potts, 2026b).
  Impact: Large-scale industrial land amalgamations in central Gold Coast precincts are becoming increasingly rare, driving competition for sites that offer diversified income streams and long-term redevelopment upside.

Final Take

The Queensland market is currently navigating a period of high-conviction investment, driven by strong rental growth in the CBD and a maturing healthcare sector. While external pressures such as fuel security and legislative transitions remain persistent, the structural demand for quality regional assets and functional industrial spaces continues to underpin a robust outlook for 2026.

References

• Gillespie, T. (2026, April 16). Former Toowoomba Officeworks site sold for $7.25m to become new healthcare precinct. Toowoomba Chronicle.
• Herde, C. (2026a, April 10). Coffee lures workers. The Courier-Mail.
• Herde, C. (2026b, April 10). Build-to-rent plan set for Hamilton. The Courier-Mail.
• Herde, C. (2026c, April 10). Fantastic deal in Rocky. The Courier-Mail.
• Levinson, B. (2026, April 9). Business owners fear fuel rationing could be just weeks away. Australian Financial Review.
• Potts, A. (2026a, April 12). Gold Coast industrial land benchmark smashed as old shed sells for $2.7m. Gold Coast Bulletin.
• Potts, A. (2026b, April 15). Landmark Burleigh site home to The Paddock Bakery hits the market. Gold Coast Bulletin.
• Radar. (2026). McGees Wrap Up - McGees Property Brisbane.
• Smith, B. (2026, April 16). Queensland set for major shake-up of trusts law as long-awaited reforms take effect. QLS Proctor.
• Wilmot, B. (2026, April 15). Marquette-led venture selling Brisbane tower 288 Edward St for $160m. The Australian.