This week’s Queensland commercial property market saw significant activity across multiple sectors, including office, industrial, retail, and rural properties. Notable transactions include Sentinel Property Group’s $72 million acquisition of RACQ House, record-setting industrial sales in Brisbane’s southern corridor, and strong rural property demand from local graziers.
Retail
Woody Point, QLD
Buyer: Interstate investor
Sale Price: $3.7 million
Property: 542 sqm ground-floor retail space at 14 Oxley Avenue, with 25 car parks and ocean views
Commentary: An iconic beachside retail investment, fully leased to four tenants, was sold for $3.7 million. The property, located in the popular tourist destination of Woody Point, attracted multiple offers through a successful expressions of interest campaign. Generating a net income of $301,856 per annum with a WALE of 3.1 years, the property offers a stable investment opportunity. The prime waterfront location, next to the newly refurbished Belvedere Hotel and Woody Point Jetty, made this investment highly attractive to interstate buyers.
Office
Brisbane, QLD
Buyer: Sentinel Property Group
Sale Price: $72 million
Property: 60 Edward Street (RACQ House), a 15-storey, 11,000 sqm office building
Commentary: Purchased with a 9.34% yield, Sentinel Property Group acquired the property below the estimated replacement cost of $152 million, with plans to hold it within its Sentinel 2032 Investment Fund.
Eagle Farm, QLD
Tenant: Redback Recruitment Pty Ltd
Lease Details: Two-year lease for 92 sqm office space at 13B/43 Links Avenue, Gateway Executive Park
Rent: $28,000 gross per annum plus GST
Commentary: The office space in Brisbane's eastern suburbs continues to attract tenants with its strategic location and accessibility to the city.
Industrial
Coopers Plains, QLD
Buyer: Local landscaping company
Sale Price: $1,690,000
Property: 284 sqm industrial property at 47 Weaver Street
Commentary: The sale set a record for the area, achieving $5,951 per sqm, underscoring the growing demand for industrial space in Brisbane's southern corridor ahead of the 2032 Olympic Games.
Caboolture, QLD
Sale Price: $2,937,500
Property: A 4,011 sqm industrial site at 24 Commercial Drive, with a 1,300 sqm workshop
Tenant: Northside Diesel (Truck and 4×4 mechanics)
Lease Details: The lease returns $175,000 per annum
Commentary: The sale of this industrial site north of Brisbane highlights the strong demand for leased assets. Northside Diesel, a truck and 4x4 mechanics business, provides a stable income from its long-term lease.
Seventeen Mile Rocks, QLD
Buyer: Private investor
Sale Price: $1.5 million
Property: A freestanding office/warehouse facility located at 16 Sinnamon Road, offering 650 sqm of space on a 1,050 sqm site
Commentary: This rare freestanding industrial facility, featuring a 5-tonne gantry crane, clear-span warehouse, and well-presented office space, was sold with vacant possession. The property, located in the sought-after Seventeen Mile Rocks precinct, offers immediate access to the Centenary Highway and Ipswich Motorway, making it a prime asset for investors or owner-occupiers looking to capitalise on the strong demand for well-located industrial space.
Rural
Fairfield Aggregation, Central Queensland
Buyer: Various buyers
Sale Price: Over $150 million total
Properties:
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- Fairfield Station (10,522 ha for $49 million)
- Kurrajong Park (3,237 ha for $26.1 million)
- Wongaburra (2,423 ha for $12 million)
Commentary: The sales from the Ray Scott portfolio saw strong interest from local graziers, demonstrating robust demand for premium grazing land in Queensland's cattle industry.
These transactions reflect a strong appetite for prime real estate across various sectors in Queensland, from urban office spaces to rural cattle properties.
Queensland continues to attract a diverse range of buyers, from private investors and interstate buyers to local graziers. Transactions reflect strong demand across office, industrial, retail, and rural properties. Standout deals include Sentinel Property Group’s acquisition of a major office building in Brisbane, record-setting sales in Coopers Plains, and the sale of prime rural grazing land in Central Queensland.
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