Retail
Brisbane CBD, QLD
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Property Address: 152 Queen Street
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Property Type: Three-Level Retail Building
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Sale Price: $14 million
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Lessee: The Body Shop Australia
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Property Size: Over 660 square metres of net lettable area
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Frontage: 7 metres
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Yield: 3.36 percent
Comment: The sale of this prime retail property on Queen Street Mall for $14 million highlights the growing confidence in Brisbane’s CBD retail market as the city recovers from the Covid pandemic. The property’s strategic location between Albert and Edward streets, surrounded by international brands, makes it a rare and valuable investment. The low yield of 3.36 percent reflects the property’s status as a trophy asset in a high-demand area, where foot traffic and leasing activity are on the rise. The new owner sees long-term value in the growth story of Brisbane’s CBD, making this a “set-and-forget” opportunity with potential for future value-add developments.
McGees Property Brisbane is managing the Brisbane Arcade next to this building, 160 Queen Street. And currently we have some opportunities available
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MacGregor, QLD
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Property Address: 519 Kessels Road
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Property Type: Two-Level Office Building
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Sale Price: $5.4 million
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Building Size: 1,666 square metres
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Site Size: 2,668 square metres
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Occupancy: Around 50% occupancy with multiple periodic leases, including tenants such as Dignified Care, CH Legal Group, and Future Business Technology Group
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Additional Features: Telecommunications link on-site, parking for 40 cars, with 30,000 vehicles passing by each day
Comment: A Melbourne-based investor's purchase of this office building in MacGregor highlights the potential for redevelopment in Brisbane’s southern suburbs. Initially a squash court, the building’s current 50% occupancy presents the new owner with options to either occupy, refurbish, or redevelop the property in the future. The site’s strategic location on Kessels Road, with high daily traffic and ample parking, adds significant value to this investment.
Lutwyche, QLD
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Property Address: 8/554 Lutwyche Road
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Property Type: Retail Unit
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Lease Details: Pod1um Group Fitness has leased a 330-square-metre retail unit.
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Lease Term: Five-year deal
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Lease Amount: $68,000 gross per annum plus GST
Comment: The lease of this retail unit to Pod1um Group Fitness demonstrates the ongoing demand for fitness-related retail spaces in Brisbane’s northern suburbs. The location on Lutwyche Road is likely a strategic choice, offering visibility and accessibility to the local community.
Airlie Beach, QLD
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Property Address: 33 Port Drive, The Boathouse Apartments
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Property Type: Ground Floor Retail Property
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Sale Price: $7.3 million
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Property Size: 1,719 square metres
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Tenancies: 13 tenancies including national retailers like Billabong and Seafolly, as well as restaurants and tourism services
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Net Income: $841,597 per year plus GST
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Lease Expiry: Weighted average lease expiry of 4.23 years
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Additional Features: 4,913 square metre entitlement area extending towards the marina, 56 basement car parks
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Developer: Meridien (developed in 2011)
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Sale Managed By: Burgess Rawson
Comment: This significant transaction in Airlie Beach highlights the appeal of prime retail properties in tourism-centric locations. The inclusion of well-known retailers and the scenic marina setting make this an attractive investment with solid income potential.
Taringa, QLD
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Property Address: 4/86 Whitmore Street
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Lessee: Figgz Café
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Property Type: Retail Shop
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Lease Details: Four-year lease with an option
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Unit Size: 128 square metres
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Lease Amount: $54,400 gross per annum plus GST
Comment: Figgz Café’s lease of this retail shop in Taringa highlights the popularity of café culture in suburban areas. The location and size of the unit are well-suited for a vibrant café setting that can draw in local patrons.
Office
East Toowoomba, QLD 4350
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Property Address: 162 Hume Street
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Property Type: Office Building
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Sale Price: $8.475 million
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Property Size: 2,160 square metres (about four times the area of a basketball court) of net lettable floorspace
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Site Size: 3,680 square metres
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Car Spaces: 72
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Tenants: A mix of government (Department of Justice and Attorney-General, Department of Communities, Darling Downs and West Moreton Primary Health Network) and private tenants (GHD, Signature Projects, McLean Care)
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Lease Expiry: Weighted average lease expiry of 3.6 years
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Yield: Passing yield of 8.2 percent
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Sale Managed By: LJ Hooker Commercial Toowoomba’s Justin Eastwell and Chris Stewart
Comment: The acquisition of this office building by Arcana Capital reflects strong investor confidence in Toowoomba’s commercial property market. The property’s location in the legal and financial precinct, combined with its high-quality tenants, made it a valuable investment, as evidenced by the competitive sale process.
Milton, QLD
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Property Address: 1-2/27 Mayneview Street
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Lessee: Conscious Care
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Property Type: Office Unit
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Lease Details: Three-year lease with an option
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Unit Size: 245 square metres (about the area of a tennis court)
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Lease Amount: $67,345 gross per annum
Comment: Conscious Care’s lease of this office unit in Milton demonstrates the demand for well-located office spaces in inner-city suburbs. The size of the unit is ideal for a growing business looking for a central location.
Industrial
Rothwell, QLD
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Property Address: 2/B2 739 Deception Bay Road
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Lessee: JD Pinoy
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Property Type: Office/Warehouse Unit
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Lease Details: Two-year lease
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Lease Amount: $47,400 gross per annum
Comment: JD Pinoy’s lease of this office/warehouse unit in Rothwell indicates a strong demand for versatile industrial spaces in the area. The unit’s location on Deception Bay Road provides easy access to key transportation routes, making it a strategic choice for the lessee.
Development
Sunshine Coast, QLD
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Location: Corner of Graf Drive and Aura Boulevard, adjacent to the Aura Business Park
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Project: Aura Home + Life Retail Precinct
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Developer: Capital Property Group (Canberra-based)
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Investment Amount: $65 million
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Property Size: 18,000 square metres of large-format retail space
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Job Creation: Approximately 100 jobs during construction and over 200 permanent and casual jobs upon completion
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Completion Timeline: Construction expected to start in early 2025, with completion and stores open for trading in early to mid-2026
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Retail Offerings: Tenants to include electrical goods, furniture, pet supplies, homewares, automotive, and recreational products
Comment: The Aura Home + Life project is a major development that will significantly enhance the retail and lifestyle offerings on the Sunshine Coast. With a large investment backing it, the precinct is poised to meet the growing needs of the local population and attract further interest in the region.
West Burleigh, QLD
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Location: Tallebudgera Creek Road
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Project: Three-storey mixed-use development
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Developer: Australian Good Food Guide Publishing
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Property Size: 1,183 square metres (about twice the area of a basketball court)
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Features: Three units, a home office, a café, and a shop
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Design Considerations: The project has been designed to align with the historic township’s character, including traditional building design elements and activation of the street through a proposed footpath awning
Comment: This development in West Burleigh showcases a thoughtful approach to maintaining the area’s historic character while introducing new commercial and residential spaces. The project’s design aligns with the community’s aesthetic and functional needs, offering both a modern and contextually sensitive addition to the township.
Bonus
Qld’s time warp suburbs: Where to buy now at 2014 prices
Source: Hyde - Realestate.com.au
| Suburb | House or Unit | 2024 Median | 2014 Median | Change |
|---|---|---|---|---|
| Thuringowa | Unit | $280,500 | $390,000 | -28.1% |
| Willow Vale | House | $766,000 | $875,000 | -12.5% |
| Railway Estate | Unit | $232,500 | $315,000 | -26.2% |
| Idalia | Unit | $275,000 | $325,000 | -15.4% |
| South Townsville | Unit | $350,000 | $395,000 | -11.4% |
| Cranbrook | Unit | $197,000 | $230,500 | -14.5% |
| Park Ridge | House | $723,500 | $750,000 | -3.5% |
| Douglas | Unit | $290,000 | $310,000 | -6.5% |
| Pimlico | Unit | $237,000 | $253,500 | -6.5% |
| Townsville City | Unit | $369,500 | $376,000 | -1.7% |
| Kirwan | Unit | $285,000 | $285,000 | 0.0% |
| Mundingburra | Unit | $245,000 | $230,000 | 6.5% |
| Ingham | House | $240,000 | $222,500 | 7.9% |
| Ayr | Unit | $220,000 | $201,250 | 9.3% |
| East Innisfail | House | $256,255 | $225,500 | 13.6% |
| Bowen Hills | Unit | $499,000 | $465,000 | 7.3% |
| Dutton Park | Unit | $565,000 | $530,000 | 6.6% |
| Cosgrove | House | $450,000 | $413,695 | 8.8% |
| Kelvin Grove | Unit | $505,500 | $466,500 | 8.4% |
| Fortitude Valley | Unit | $480,000 | $439,000 | 9.3% |
| North Ward | Unit | $330,000 | $287,500 | 14.8% |
| Goodna | Unit | $355,000 | $310,500 | 14.3% |
| Toll | House | $405,000 | $360,000 | 12.5% |
| Burdell | House | $490,000 | $435,000 | 12.6% |
| Milton | Unit | $583,333 | $523,218 | 11.5% |
| Brisbane City | Unit | $590,000 | $520,000 | 13.5% |
| Hamilton | Unit | $589,000 | $515,000 | 14.4% |
For a complete list of weekly commercial transactions in Queensland, visit McGees Wrap Up | McGees Property Brisbane
Disclaimer: The information provided in this blog is for general informational purposes only and does not constitute legal, financial, or professional advice. While we strive for accuracy, we make no guarantees regarding the completeness or timeliness of the content. Always seek independent advice before making any financial or real estate decisions. We are not liable for any loss or damages arising from your reliance on the information provided.
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