Market Overview
Diverse Activity Across Sectors: This week’s activity spans development land, residential subdivision, office leasing, industrial properties, retail automotive investment, and hospitality/gaming. The spread reflects a resilient and multifaceted commercial property market in Queensland.
Shift in Owner-Occupier Demand: There’s continued momentum from owner-occupiers—particularly in office, industrial, and mixed‑use sectors—indicating confidence in long-term stability and utility of these assets.
Strategic Divestment in Hospitality Gaming: The exit of The Star Entertainment Group from its Brisbane casino stake signals leveraged repositioning and liquidity management amid financial restructuring.
This Week’s Highlights
| Sector | Transaction Summary |
|---|---|
| Development (Healthcare) | Meadowbrook 1.62 ha site sold for $12.5 m, previously approved for private hospital development; now prime for residential or mixed‑use, with heights up to 25–40 m envisaged. |
| Development (Residential) | Hemmant 1.06 ha creek‑front parcel sold for $4 m; zoned Emerging Community with DA for 17 lots (six with creek frontage). |
| Commercial Office (Lease) | Townsville CBD: RetireWisely has leased a 95 sqm suite at 569 Flinders St for 4 years at $265/sqm. |
| Commercial Office (Leases) | Springfield Central: 6,500 sqm of A‑grade office space leased across multiple tenants, including a tenant committing 4,000 sqm at ~$600/sqm. |
| Retail/Industrial (Sale) | Labrador: Fully leased 1,687 sqm automotive service site sold for $4.35 m, yielding 4.5%, anchored by national tenants. |
| Owner‑Occupier Sales | Several mixed property sales including office units, warehouses, café, and medical centre + house — prices ranged from $395 k to $2.025 m across Brisbane suburbs. |
| Hospitality/Gaming (Major Sale) | Star Entertainment completed a $53 m sale of its 50% stake in Queen’s Wharf Brisbane to Chow Tai Fook Enterprises and Far East Consortium, offloading future equity and debt obligations related to the precinct. |
Commercial Office – Sale
7/39 Jeays Street, Bowen Hills
- Buyer:
- Owner-occupier
- Sold:
- $395,000
- Details:
- 90sqm office unit purchased by an owner-occupier. Located in Brisbane's inner-north fringe, the property provides a boutique commercial footprint ideal for small professional operations (Courier-Mail, 2025).
Lot 100/1 Gardak Street, Currimundi
- Buyer:
- Owner-occupier
- Sold:
- $1.5 million
- Details:
- 460sqm freestanding office acquired for immediate occupation. The Sunshine Coast location reflects continued demand from SME buyers seeking to control their business premises (Courier-Mail, 2025).
Commercial Office – Lease
Suite 1, 569 Flinders Street, Townsville CBD
- Tenant: Retire Wisely
- Lease Term:4 years
- Size: 95sqm @ $265/sqm
- Details: Modern, fit-out office space leased by expanding financial services firm. Strong demand persists for turnkey tenancies in regional CBDs with onsite parking and signage exposure (Courier-Mail, 2025).
6 Yoga Way, Springfield Central
- Tenants:Australian Veteran Health Services, MTC Australia, Secure Journeys, National Business Services Provider
- Lease Area:6,500sqm total
- Details:
- A-grade 10,000sqm building saw major uptake post-General Electric’s exit. Largest tenant committed to 4,000sqm over two floors. Average gross rents at ~$600/sqm reflect Springfield’s growing appeal (Herde, 2025).
Retail/Industrial – Sale
46–48 Brisbane Road, Labrador
- Buyer: Offshore Investor
- Sold: $4.35 million (4.5% yield)
- Details:
- 1,687sqm corner site fully leased to The Car Place and Midas Tyre & Auto. High-exposure investment secured prior to auction following strong local and interstate interest (Herde, 2025).
1/217 Lutwyche Road, Windsor
- Buyer: Investor
- Sold: $410,000
- Details:
- 39sqm café unit sold to a private investor. Net-leased retail assets in fringe metro locations remain sought-after, especially in densely trafficked corridors (Courier-Mail, 2025).
Industrial – Sale
1/1147 South Pine Road, Arana Hills
- Buyer: Owner-occupier
- Sold: $790,000
- Details: 217sqm industrial unit sold to a business owner. The deal underscores strong SME-led demand for small-format warehouses in Brisbane’s northern corridor (Courier-Mail, 2025).
6/2–8 Focal Avenue, Coolum Beach
- Buyer: Local Building Company
- Sold: $592,500
- Details: 300sqm vacant office/warehouse purchased for owner-occupation. The property offers flexibility for light industrial or trade-based use within a tightly held Sunshine Coast precinct (Courier-Mail, 2025).
Land & Development – Sale
18 Nestor Drive, Meadowbrook
- Buyer: SEQ Developer
- Sold: $12.5 million (ex. GST)
- Details: 1.62ha cleared site opposite Logan Hospital. Previously approved for private hospital, now primed for residential or mixed-use development with heights up to 25–40m under the Meadowbrook Master Plan (Herde, 2025).
112 Gross Avenue, Hemmant
- Buyer: Evans Land Group
- Sold: $4 million
- Details: 1.06ha residential subdivision site with DA for 17 lots (6 creekfront). First inner-urban land subdivision of its kind in Brisbane in nearly a decade (Herde, 2025).
Mixed Use – Sale
118 King Street, Caboolture
- Buyer: Investor
- Sold: $2.025 million
- Details:
- Combined 138sqm medical centre and 140sqm house sold to an investor. Property provides dual income potential and long-term redevelopment upside (Courier-Mail, 2025).
Hospitality/Gaming – Major Sale
Queen’s Wharf Precinct, Brisbane CBD
- Buyer: Chow Tai Fook Enterprises & Far East Consortium
- Sold: $53 million (50% interest)
- Details:
- Star Entertainment offloaded its entire stake in the Queen’s Wharf Brisbane casino project. The transaction alleviates significant capital obligations and consolidates control under the JV partners (Yeates & Kruger, 2025).
3. General News
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Repurposing Older Assets for Housing: There’s growing interest among landlords and developers to convert underutilised B‑ and C‑grade office buildings into affordable housing, driven by strong demand and limited supply. A prime example is the redevelopment of the former Metway Arcade in the Townsville CBD. Brisbane-based developer Naresh Devjani is delivering a $4 million transformation of the derelict commercial site into a vibrant mixed-use complex.
Approved by Townsville City Council, the project at 390–396 Flinders Street will offer:
- 20 one-bedroom apartments (55–60sqm each) targeting students and renters
- 28 ground and mezzanine retail tenancies
Town planner Stephen Motti noted the project “exemplifies how innovative land use can address housing demand, increase density, and create vibrancy.” He highlighted the catalytic effect such developments have in revitalising city cores while meeting essential social needs.
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Restructuring of Star Entertainment: The $53 million divestment of Star Entertainment’s 50% stake in the Queen’s Wharf Brisbane casino has been finalised with its Hong Kong joint venture partners, Chow Tai Fook Enterprises and Far East Consortium. The transaction, which also involves the transfer of associated assets including Brisbane’s Treasury Hotel and car parks, marks a pivotal restructuring move.
This exit allows Star to:
- Avoid $212 million in future equity contributions
- Be released from debt guarantees linked to the Queen’s Wharf development
- Refocus on its Gold Coast assets amid liquidity pressures
The deal ensures project continuity and secures more than 2,700 local jobs. According to Far East Consortium’s Wendy Chiu, it represents a “major milestone” in preserving long-term value for Queensland as Brisbane prepares for the 2032 Olympic Games.
This shift also reflects growing scrutiny and financial pressure on Australian gaming operators, particularly with tighter regulation and pending penalties for compliance breaches.
4. Sum up
This week highlights strategic land and office transactions across South East Queensland, from medical precincts to creek‑front residential sites to high‑rise commercial leases. The replication of owner‑occupier demand underscores confidence in the local market.
Notably, Star Entertainment’s exit from the Queen’s Wharf Brisbane casino precinct marks a pivotal moment in Queensland’s hospitality sector—signifying both a financial reset for the company and a clear path forward for the precinct, with full ownership transitioning to long‑standing JV partners.
Commercial property in Queensland continues to showcase adaptability—from urban densification to suburban subdivision and corporate restructuring—positioning the market strongly ahead of major catalysts like Brisbane 2032.
5. References
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Yeates, C., & Kruger, C. (2025, August 13). Star strikes $53m deal to sell off wharf casino: Casinos. The Age, 24.
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Star Entertainment offloads Brisbane’s Queen’s Wharf precinct in $53m deal. (2025, August 12)
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Star Entertainment revives bid to sell 50% stake in Brisbane resort (2025, August 11). Reuters.
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Inside the mission to pull Star casino back from the brink. (2025). The Australian.
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Courier‑Mail. (2025, August 15). Boom city lures tenants. REAL COMMERCIAL.
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Courier‑Mail. (2025). Other articles processing transactions: including Meadowbrook, Hemmant, Townsville, Labrador, Jeays St, Gardak St, South Pine Rd, Focal Ave, Lutwyche Rd, King St, and Sentinel/Ebert
For a complete list of weekly commercial transactions in Queensland, visit McGees Wrap Up | McGees Property Brisbane
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