26/09/2024

McGees Wrap Up 27th of September 2024

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This week’s commercial property market in Queensland saw significant activity across the industrial, office, and retail sectors. High demand for well-located assets, particularly in growth areas like Brisbane’s TradeCoast and suburban retail hubs, continues to drive strong investor interest. From multi-million dollar sales of industrial sites to a record-setting retail auction, these transactions highlight the ongoing confidence in Queensland’s commercial real estate market

Industrial:

31 Trade Street, Lytton, QLD

·       Property: Vacant TradeCoast facility

·       Sale Price: $4,125,000

·       Details: A 3,064 sqm site with a 1,320 sqm warehouse and office, sold as a value-add opportunity in the high-demand TradeCoast precinct, close to the Port of Brisbane and Brisbane Airport. The property received 100 enquiries and 12 written offers.

100 Eastlake street,Carrara, QLD

·       Property: Industrial and storage facility with caretaker's residence

·       Sale Price: $3,205,000

·       Details: 776 sqm building with a lockup garage and residence on a 1,707 sqm site. Sold under the hammer after receiving 113 bids. The property last traded two years ago for $2.695 million.

Office:

239 Stafford road, Stafford, QLD

·       Tenant: Curious Cat Psychology

·       Lease Details: Five-year lease for a 230 sqm office suite at 239 Stafford Road

·       Rent: $75,000 gross per year

·       Commentary: The deal highlights the demand for suburban office spaces in Brisbane’s northern areas.

Retail:

19 Kessels Road,Coopers Plains, QLD

·       Property: Hungry Jack’s-anchored retail centre

·       Sale Price: $7.53 million

·       Yield: 5.27%

·       Details: A 613 sqm fast food hub on a 3,054 sqm site, with tenants including Subway, Pizza Hut, Zambrero, and Chinese Antique takeaway. The property attracted 722 inquiries and 31 bids, setting a new benchmark for multi-tenanted fast food investments in Queensland.

These transactions highlight ongoing demand for industrial, office, and retail assets across Queensland, reflecting strong investor interest in both value-add and stable, income-generating properties.

 

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