Queensland Commercial Property Weekly Wrap-Up
The Queensland commercial property market shows resilience despite broader economic headwinds. While small businesses face challenges from rising operational costs, institutional investors remain active in the industrial and life science sectors. Government infrastructure commitments and strategic sale and leaseback activity continue to anchor the market against national economic pressures (Business Chamber Queensland, 2026; Macdonald-Smith, 2026).
This Week’s Highlights
| Sector | Property Address | Details | Yield/Key Info |
|---|---|---|---|
| Industrial | 23 Doggett Street, Fortitude Valley | 682 sqm warehouse/showroom purchased for $9.25m by a private investor. | Repositioning strategy; occupied by Bridgestone Select (Herde, 2026). |
| Office | 100 Skyring Terrace, Newstead | 3,500 sqm lease by John Holland Group. A-Grade building. | 7-year lease; significant near-city relocation (Herde, 2026). |
| Industrial | 26/23 Ashtan Place, Banyo | 230 sqm office/warehouse leased to Fleet Aeronautics. | 3-year lease @ $55,000 net p.a. (Herde, 2026). |
| Industrial | 1/11 Tradelink Road, Hillcrest | 194 sqm warehouse leased to Mayhem Boxing & Fitness. | 3-year lease @ $32,000 p.a. (Herde, 2026). |
| Office | 4/10 Helium Street, Narangba | 317 sqm office leased to Skylar Education. | 3-year lease @ $57,000 net p.a. (Herde, 2026). |
| Industrial | Darra (Warehouse) | 474 sqm warehouse + 950 sqm hardstand leased to Mobile Airconditioning Services. | 5-year lease @ $145,000 p.a. (Herde, 2026). |
| Office | 9B/12 Billabong Street, Stafford | 203 sqm office leased to Retail Tasker. | 2-year lease @ $36,000 net p.a. (Herde, 2026). |
Industrial – 23 Doggett Street, Fortitude Valley
A private investor purchased the 682 sqm freestanding warehouse and showroom for $9.25 million. Currently occupied by Bridgestone Select Tyre & Auto, the property is situated on a 627 sqm site in the tightly held James Street precinct. The buyer plans to reposition the asset long-term, leveraging the flexible mixed-use zoning and prime location just 2km from the CBD (Herde, 2026).
Office – 100 Skyring Terrace, Newstead
John Holland Group secured a seven-year lease for 3,500 sqm of office space within this A-Grade office building. Featuring contemporary accommodation and 6.0-star NABERS energy ratings, the asset is located in the vibrant Gasworks precinct. This relocation highlights the demand from major contractors for sustainable, high-quality workspaces with excellent connectivity (Herde, 2026; Colliers, 2026).
Industrial – 69 Southgate Avenue, Cannon Hill
An investor acquired this 1,085 sqm office headquarters for $8.06 million, secured by a 10-year triple-net sale and leaseback agreement with Trident Services Australia. Such assets remain highly sought after by institutional investors for their long WALE (Weighted Average Lease Expiry) profiles and secure, inflation-indexed income streams (Herde, 2026).
Medical – Sullivan Nicolaides Pathology Laboratory, Bowen Hills
Charter Hall acquired this 43,500 sqm landmark life science facility from Sonic Healthcare for $445 million. The deal includes a 20-year triple-net leaseback, reflecting an initial passing yield of 5.62 per cent. The acquisition aligns with institutional strategies to secure essential service assets with long-term, inflation-indexed revenue (Wilmot, 2026).
Industrial & Office – Leasing Activity
26/23 Ashtan Pl, Banyo:
Premises: A modern 230 sqm office and warehouse unit located in an established industrial hub.
Tenant: Fleet Aeronautics, an aerospace engineering and support services firm.
Details: The tenant secured a three-year lease at $55,000 net per annum. This location is favoured for its proximity to Brisbane Airport and major arterial road networks. (Herde, 2026).
1/11 Tradelink Rd, Hillcrest:
Premises:A 194 sqm warehouse unit suited for conversion into an active fitness centre.
Tenant: Mayhem Boxing and Fitness, a local fitness operator looking for functional warehouse space.
Details: The deal is a three-year lease at $32,000 per annum. The premises offer the high-clearance ceilings and open-floor layouts typical of the Hillcrest industrial precinct, which are ideal for fitness operator (Herde, 2026).
4/10 Helium St, Narangba: Skylar Education committed to a three-year lease for a 317 sqm office at $57,000 net per annum (Herde, 2026).
Premises: A 317 sqm office space that provides a professional environment conducive to educational programming.
Tenant: Skylar Education, an education services provider.
Details: The commitment is for a three-year lease at $57,000 net per annum. Narangba is increasingly attracting professional service tenants seeking quality office space outside of the traditional inner-city office markets.
Darra Warehouse:
Premises: A versatile 474 sqm warehouse paired with a large 950 sqm dedicated hardstand yard.
Tenant Mobile Airconditioning Services, a specialised mechanical services provider.
Details: This is a five-year lease at $145,000 per annum. The inclusion of extensive hardstand is a critical feature for the tenant, providing necessary space for vehicle parking and equipment storage.
9B/12 Billabong St, Stafford:
Premises: A 203 sqm office space positioned within a boutique commercial complex.
Tenant: Retail Tasker, a retail support and logistics entity.
Details: A two-year lease has been secured at $36,000 net per annum. Stafford remains a sought-after location for businesses needing compact, central office space with easy access to the northern suburbs.
General News
- PsiQuantum Infrastructure: Construction has commenced on the billion-dollar quantum computing facility in Moreton Bay. This project creates critical technology infrastructure, which is expected to attract high-tech, research-focused tenants to the surrounding industrial zones (Levinson, 2026).
- Residential Market Outlook: Brisbane home prices are forecast to grow by five per cent in 2026. This limited supply supports land values, which indirectly influences investor appetite for mixed-use commercial and development-ready sites (Dawson, 2026).
- Business Confidence: Business confidence in Queensland has reached lows not seen since the Global Financial Crisis. Heightened operational costs and inflation may lead to tighter lease negotiations as tenants prioritise cash flow (Business Chamber Queensland, 2026).
- Energy Price Pressures: Rising daily supply charges are offsetting usage-rate cuts for many small businesses. This ongoing overhead pressure reduces net profitability for tenants, which may limit their capacity for substantial rent increases in the near term (Macdonald-Smith, 2026).
Final Take
Queensland's market remains a tale of two speeds. Institutional investors are successfully deploying capital into high-quality, long-term essential service assets. Conversely, small businesses are navigating a difficult period of high costs and uncertainty. Property owners should focus on tenant retention and flexible lease structures to maintain stability during this period.
References
Business Chamber Queensland. (2026, June 18). Qld businesses overwhelmed as confidence sinks to GFC levels. The Courier-Mail.
Colliers. (2026). Office For lease - 100 Skyring Terrace NEWSTEAD QLD 4006.
Dawson, A. (2026, June 18). Brisbane home prices set to climb again but at a slower pace. Realestate.com.au.
Herde, C. (2026, June 12). Sale marks end of era. The Courier-Mail.
Herde, C. (2026, June 12). Building up for a future. The Courier-Mail.
Herde, C. (2026, June 12). Leaseback secures investor purchase. The Courier-Mail.
Herde, C. (2026, June 12). Leases. The Courier-Mail.
Levinson, B. (2026, June 17). First look at PsiQuantum’s revamped supercomputer project. The Australian Financial Review.
Macdonald-Smith, A. (2026, June 18). Electricity prices were supposed to be coming down. Think again. The Australian Financial Review.
Wilmot, B. (2026, June 18). Charter Hall snaps up Brisbane pathology lab in $445m deal. Realcommercial.com.au.
For a complete list of weekly commercial transactions in Queensland, visit McGees Wrap Up | McGees Property Brisbane
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