Woolloongabba: Commercial Suburb Profile

Overview of Location & Character

Woolloongabba is an inner-city suburb of Brisbane, located just 2.3 km South-East of the CBD. This prime position, combined with excellent transport links, gives Woolloongabba unbeatable connectivity while retaining its own distinct character. The area blends old and new; heritage-listed buildings and antique stores lend a nostalgic charm, even as trendy cafes, craft breweries, and acclaimed restaurants proliferate in its bustling retail precincts. The Gabba, Brisbane’s iconic cricket and AFL stadium, anchors the suburb and has long put Woolloongabba on the map as a sports and entertainment destination. Overall, Woolloongabba offers a vibrant yet relaxed lifestyle appeal: it is popular with young professionals and families drawn to its urban conveniences, dining scene, and community vibes, as well as with medical staff working at the nearby hospital precinct. The mix of historic charm and modern development makes Woolloongabba a unique "hidden gem" of inner Brisbane.

Source: The State of Queensland (2025)

Demographic & Economic Snapshot

Woolloongabba’s population has boomed in recent years, reflecting its desirability. As of June 2024, the suburb’s population was approximately 10,068 residents, having grown around 5% per year over the past five years, far outpacing Brisbane’s average growth of approximately 1.7% (Australian Bureau of Statistics [ABS], 2024). This influx has skewed the demographic profile younger: the median age is only 29.4 versus 35.7 for Brisbane city, indicative of a high proportion of students, professionals, and young families. Education levels are relatively high and the community is dynamic, with nearly half of local residents renting their homes (49% rental households), a sign of a mobile population and strong tenant demand.

Despite the youthful population, household incomes are on par with the city, and a thriving local economy supports many jobs in health care, education, hospitality, and professional services. Unemployment in Woolloongabba was around 5.6% in early 2025, slightly above the city’s 3.8%, but this is expected to tighten as major projects create new employment. Overall, the suburb’s rapid population growth and urban renewal point to a robust economic trajectory, underpinned by significant public and private investment.

Local Amenities, Attractions & Infrastructure

Woolloongabba offers an array of amenities and attractions that enhance its appeal for businesses and residents alike. The suburb’s dining and entertainment scene is a major drawcard, from the bustling Logan Road antique precinct lined with eclectic cafes, vintage boutiques, and renowned restaurants, to the lively pubs and craft breweries that come alive on game nights near The Gabba. Speaking of which, The Gabba stadium (Brisbane Cricket Ground) is a landmark attraction hosting international cricket, AFL matches for the Brisbane Lions, and soon Olympic events. It is set for a $2.7 billion redevelopment ahead of the 2032 Olympics, transforming the surrounding precinct into a vibrant entertainment and lifestyle hub. This project, the largest urban renewal in Brisbane since South Bank, will deliver new open plazas, parkland, pedestrian bridges, and mixed-use facilities, creating a legacy "24/7" destination that benefits local businesses year-round (Miles, 2023).

Beyond sport, Woolloongabba benefits from proximity to major medical and educational facilities. The suburb sits between the Mater Hospital and the Princess Alexandra Hospital, making it part of a key health precinct that attracts medical businesses, research institutes, and healthcare workers (many of whom live locally). Several schools and the University of Queensland’s campus in nearby St Lucia are within easy reach via public transport.

Transport infrastructure is excellent and only getting better. Woolloongabba is serviced by two train stations on its periphery (Park Road and Buranda), the high-frequency South East Busway (with a station at Woolloongabba), and the Clem7 motorway tunnel and Pacific Motorway which provide quick road links north and south. The suburb’s connectivity will dramatically improve further with the new Cross River Rail underground station at Woolloongabba, due to open in the coming years. This $5.4 billion project will effectively put Woolloongabba just one train stop from the CBD and Brisbane’s southern suburbs, cementing it as a major transit hub (Cross River Rail Delivery Authority, 2025). A new Brisbane Metro route is also planned to integrate with the station, alongside a "walkable spine" pedestrian boulevard linking through to South Bank and the CBD.

Several significant developments are underway or recently completed. One standout is Station Square, a proposed $1.2 billion mixed-use precinct directly above the Cross River Rail station (Tan, 2025). Plans for Station Square include four new high-rise towers (up to 40-storeys) with commercial offices, a retail mall, a 320-room hotel, and hundreds of apartments, all integrated with the station entrance. Meanwhile, on the southern end of Woolloongabba, the South City Square project is transforming a former industrial site into a modern urban village with new supermarkets, a cinema, dining laneways, and multiple residential towers (project value ~$700 million). Smaller upgrades like the Woolloongabba Bikeway and local streetscape beautification further add to the suburb’s infrastructure profile.

Commercial Property Market Trends

Commercial real estate in Woolloongabba is on a strong upswing, buoyed by the suburb’s growth and investment pipeline. The area historically had a mix of light industrial warehouses, automotive yards, and secondary offices, many of which are now giving way to modern mixed-use projects. This transition is creating opportunities across retail, office, and industrial segments:

• Retail & Hospitality: Street-front retail spaces (especially around Logan Road and Stanley Street) enjoy healthy foot traffic from local residents, hospital visitors, and Gabba event-goers. Vacancy in prime spots is very low; Brisbane’s inner-south areas have recorded residential vacancy rates around 1% or less, which translates into strong patronage for shops and cafes (Zest Mortgage Solutions, 2025). Rents for well-located Woolloongabba retail are rising in line with demand, yet remain more affordable than CBD retail strips, offering good value to tenants.

• Office Space: Woolloongabba forms part of Brisbane’s "Fringe" office market. Overall fringe office vacancy has been trending down to approximately 10.3% as of Q3 2025 (JLL, 2025), as tenant demand picks up and new supply is absorbed. In the Inner South sub-market (including Woolloongabba), vacancy was slightly higher historically but has tightened significantly to 11.8% in recent reports (Cushman & Wakefield, 2025). Notably, Woolloongabba offers modern A-grade office space at lower rents than the CBD; prime gross rents in the fringe average about $670–$700 per m² compared to $800+ in the CBD core. This cost advantage is attractive to tenants (especially medical and tech firms). Indeed, one of the suburb’s largest office assets, a 5,300 m² office/medical complex at 2 Burke Street, was fully leased to high-quality tenants and recently sold to an investor for $86.4 million, reflecting confidence in Woolloongabba as a long-term office location (CoreLogic, 2025).

• Industrial & Showroom: While inner-city industrial land is limited, Woolloongabba still hosts some light industry, trade showrooms, and warehouse-style retail, particularly towards its southern end. Industrial property in Brisbane is experiencing record-low vacancies, often below 1% across the city (Commercial Property Marketing, 2025), and Woolloongabba’s few remaining warehouse sites are highly sought after. Recent sales show strong demand; for instance, a 1,200 m² warehouse on Deshon Street sold for $9.2 million in 2024. Investors are targeting these properties not only for rental income but also for land-banking. Yields on commercial assets here tend to range from around 5% for prime, up to 6.7% for secondary assets (Crew Commercial, 2025).

Recent Commercial Sales & Developments

The past 18 months have seen robust sales activity in Woolloongabba’s commercial property sector. A variety of asset types have changed hands, from small strata units to large development sites. Some notable transactions include:

Source: CoreLogic (2025)

Pros and Cons for Investors & Tenants

Pros:

• Prime City-Fringe Location: Close proximity to Brisbane CBD (just a few minutes’ drive or a 6-minute train ride).
• Excellent Transport Connectivity: Connected via M3 freeway, Clem7 tunnel, busway, and the upcoming Cross River Rail station (Cross River Rail Delivery Authority, 2025).
• Strong Rental Market & Low Vacancies: Residential vacancy around 1% (Zest Mortgage Solutions, 2025), signalling a healthy local customer base.
• Major Infrastructure & Growth Projects: Billions being invested in infrastructure and the 2032 Olympic precinct (Miles, 2023).
• Vibrant Lifestyle & Amenity: A mix of trendy eateries and entertainment.

Cons (Challenges to Consider):

• Traffic and Parking Congestion: Heavy traffic during peak times or events.
• Ongoing Construction Disruption: Road closures and noise due to development projects.
• Rising Property Costs: Median house prices are around $1.3 million, creating high entry costs (Zest Mortgage Solutions, 2025).
• Future Supply and Competition: An influx of new commercial spaces may increase competition for tenants.

Woolloongabba’s Value Proposition

Woolloongabba offers an outstanding value proposition for both commercial property owners and business occupiers. For landlords and investors, the suburb provides a combination of strong rental yields and significant capital growth potential, underpinned by low vacancies and burgeoning population growth. For businesses, it presents the chance to operate in a thriving, city-fringe locale without the CBD price tag. By choosing Woolloongabba, stakeholders are effectively "future-proofing" their location in the lead-up to the 2032 Olympics.

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