This week’s commercial property market in Queensland remained active, with notable transactions across the industrial, office, and retail sectors. Leasing activity surged, reflecting strong demand for functional spaces in key locations, while major sales in aviation and retail properties underscored continued investment in the state’s infrastructure. The latest deals highlight investor confidence and the growing appetite for commercial properties in Queensland.

Industrial

Eagle Farm, QLD

·       Tenant: Gusto Auto

·       Lease Details: Two-year lease for a 443 sqm shed at 1130 Kingsford Smith Drive

·       Rent: $75,000 per annum

·       Commentary: Gusto Auto secures a prime industrial space in Brisbane's TradeCoast precinct, reflecting strong demand for well-located industrial facilities.

Brendale, QLD

·       Tenant: Escapade Campers

·       Lease Details: Two-year lease for a 162 sqm industrial unit at 10a/20 Kenworth Place

·       Rent: $28,500 net per annum

·       Commentary: The demand for smaller, affordable industrial units remains strong in Moreton Bay, with Escapade Campers capitalising on a functional space in the area.

Gold Coast, Townsville, Mt Isa, Longreach, QLD

·       Property: Queensland Airports Ltd, including Gold Coast Airport

·       Sale Price: $3 billion

·       Buyer: KKR and Skip Essential Infrastructure Fund, linked to Atlassian co-founder Scott Farquhar

·       Commentary: Queensland’s key airport terminals transition to new ownership, marking a significant investment in the state’s aviation infrastructure.

Office:

East Brisbane, QLD

·       Buyer: Local cardiology practice

·       Sale Price: $2.43 million + GST

·       Property: 256 sqm office building on 406 sqm land at 26 Didsbury Street with seven parking spaces

·       Commentary: A local cardiology practice takes over a well-positioned office space in East Brisbane, transitioning the property from financial services to medical use.

Retail

West End, Townsville, QLD

·       Buyer: National Tiles

·       Sale Price: Under $2 million

·       Property: 1,303 sqm showroom, warehouse, and office space on 1,598 sqm at 151-155 Ingham Road

·       Commentary: National Tiles relocates to a high-profile location in Townsville’s West End, underlining the strength of the local retail market.

Milton, QLD

·       Tenant: Ground Zero Martial Arts & Gym

·       Lease Details: Three-year lease for a 582 sqm site at 12/97 Castlemaine Street

·       Rent: $116,400 net per annum plus GST

·       Commentary: Ground Zero expands its operations, securing a well-positioned retail space in Milton, adding to the ongoing demand for fitness and recreational spaces in the area.

Wrap-Up Summary

This week’s transactions demonstrate strong demand across Queensland’s commercial property sectors. Industrial spaces in Eagle Farm and Brendale continue to attract tenants seeking functional, well-located properties, while substantial investments like the $3 billion sale of Queensland Airports Ltd highlight confidence in the state’s infrastructure. The retail and office sectors remain active, with notable leases such as Ground Zero in Milton and National Tiles in Townsville driving the market forward.

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