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.

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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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.

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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This week’s commercial property market in Queensland saw a diverse range of transactions, spanning office leases, major industrial investments, historic hotel sales, and development site acquisitions. From significant investments in logistics properties to the unveiling of a new Olympic-standard sports centre, these deals highlight ongoing growth and confidence across various sectors.

Retail

Brisbane Airport, QLD

Viral sensation Brooki Bakehouse, known for its cookies, brownies, and cupcakes, is expanding with a new pop-up store at Brisbane Airport’s domestic terminal, near Gate 25. Set to open on Friday, September 20, the pop-up will initially run until Valentine’s Day, with the possibility of becoming a permanent fixture if successful. Owner Brooke Bellamy shared on Instagram the excitement and challenges of opening the store just a week before her due date, with her husband, Justice, helping to finish the space.

With 50,000 passengers expected to pass through the terminal daily during the school holidays, this pop-up is strategically positioned to capture high foot traffic. Brooki Bakehouse, which boasts four million followers on social media, has a global presence, shipping products across Australia, the United States, New Zealand, and Asia. Its cookbook also ships worldwide, further solidifying the bakery’s international reach.

This expansion marks a significant milestone for the brand, bringing its signature baked goods to a new audience and boosting its already impressive global footprint.

Bundamba, QLD

• Property: Dual-income fast food investment

• Sale Price: $8.7 million

• Yield: 5.57%

• Details: Occupied by Banjo’s Bakery Café (15-year lease with options to 2058) and Subway (10-year lease with options) on a 2,606 sqm site in Ipswich.

Cannon Hill, QLD

• Property: Brisbane childcare asset

• Sale Price: $5.45 million

• Details: National operator Edge Early Learning is on a 15-year lease to 2035 with options over a 765 sqm facility licensed for 115 places.

Condon, QLD

• Property: Bridgestone tyre and auto service site

• Sale Price: $1.9 million

• Yield: 5.81%

• Details: The property is on a 10-year lease to Bridgestone, expiring in December 2027 with an option.

Rocklea, QLD

• Property: Bridgestone truck service centre

• Sale Price: $2.73 million

• Yield: 6.15%

• Details: Located on a 5,166 sqm land parcel, the lease runs to December 2027 with an option.

Office:

• 500 Brunswick Street, Fortitude Valley, QLD: Genus Group, an ASX-listed power infrastructure company, leased a 304 sqm ground floor space in a refurbished character building. The five-year lease was secured at about $650 per sqm gross. Russom Investments, the lessor, had acquired the property for $4.65 million and completed refurbishment works.

Industrial:

• Australia-wide (Sydney, Melbourne, Brisbane, Perth): Hankyu Hanshin Properties (Japan) and a Malaysian investor are investing $536 million in a logistics portfolio spanning 860,000 sqm. The portfolio, managed by ESR and ADIA, includes 11 properties across Sydney, Melbourne, Brisbane, and Perth. Tenants include Woolworths, DHL, Toll, and Maersk.

Hotel & Hospitality:

• 25 Brisbane Street, Drayton, Toowoomba, QLD: The historic Downs Hotel, originally established in 1858, was sold for $4.95 million to an independent syndicate. Located on a 3,804 sqm corner site, the sale included both the freehold and the pub’s going concern (The Courier – Mail; Brisbane, Qld. 13 Sep 2024: 65)

Development:

• Jacaranda Ave and Democracy Way, Logan, QLD: Plans for a $142 million Logan Indoor Sports Centre have been unveiled. The facility will feature nine indoor courts and seat 7,000 spectators. This centre is part of broader infrastructure projects ahead of the 2032 Olympics.

• 23 Arbor Street, Ferny Grove, QLD: A 1,618 sqm low-density residential site with dual street frontage sold for $2.295 million, offering significant future development potential.

These transactions underscore Queensland’s growing demand for commercial and development properties, reflecting a solid investment climate across the state.

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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Industrial:

Murarrie, QLD

• Seller: New Britain Catholic Investment

• Transaction Details: Sale of three industrial properties for nearly $14.4 million

• 1-5/22 Alexandra Place & 4/9 Archimedes Place: Six units sold for just under $8 million to five investors and one owner-occupier.

• Commentary: The sale of these industrial properties in Murarrie highlights strong investor demand for strategically located industrial assets in Brisbane’s eastern suburbs. The mix of investor and owner-occupier buyers demonstrates the versatility and appeal of these properties in the current market.

Heathwood, QLD

• Buyer: Carmdev Group

• Transaction Details: Purchase of two industrial sites for $5.65 million

• Lot 13 (5,000 sqm) and Lot 17 (6,800 sqm) at 731 Johnson Road, Heathwood

• End Value: $27 million for two new industrial developments

• Commentary: Carmdev’s acquisition in HUB Heathwood is a testament to the growing demand for industrial space in Brisbane’s southwest. The development plans for high-quality strata units and a freestanding warehouse showcase the estate’s appeal to industrial users and developers alike.

Hemmant, QLD

• Buyer: Local Business

• Transaction Details: Purchase of 14 lots across 34-36 Porter Street, 37 Henricks Street, 39 Henricks Street, and 47 Henricks Street

• Total Land Area: 6,020 sqm

• Sale Price: $6.1 million ($1,013 per sqm)

• Commentary: The record-setting sale in Brisbane’s Trade Coast precinct reflects the increasing demand for industrial land, with vacancy rates driving owner-occupiers to secure large land parcels due to a lack of available industrial buildings.

Office:

Spring Hill, QLD

• Buyer: Local Medical Owner-Operator

• Transaction Details: Purchase of Engineering House, 447 Upper Edward Street

• Sale Price: $9.8 million

• Property Size: 1,357 sqm, four-level office building with onsite parking

• Commentary: The sale of Engineering House demonstrates the continued demand from owner-occupiers seeking high-quality office space in Brisbane. The property’s proximity to the CBD and recent refurbishment made it an attractive option for a local healthcare provider expanding their business.

Fortitude Valley, QLD

• Tenant: IQ Construct

• Lease Details: Five-year lease for a 555 sqm suite at Baker’s Grounds, 37 Kennigo Street

• Commentary: IQ Construct’s move into the heritage-listed Baker’s Grounds complex highlights the appeal of unique office spaces in Brisbane’s city fringe. The building’s historical charm and modern refurbishments make it a desirable location for companies seeking creative and functional office environments.

• McGees Property Brisbane manages this property.

Brisbane Airport, QLD

• Tenant: RediMed

• Lease Details: Seven-year lease for a 1,152 sqm space at Skygate, 12-14 The Circuit

• Commentary: RediMed’s decision to lease a full floor in the Skygate precinct underscores the increasing demand for accessible office spaces near industrial hubs. The location’s proximity to Brisbane Airport and major transport links makes it an ideal base for their health services operations.

Stones Corner, QLD

• Tenant: Queensland Police Service

• Lease Details: 15-year lease for a new inner-city station at 7192 Logan Road

• Lease Value: Up to $240 million, including fit-out and maintenance

• Commentary: The Queensland Police Service has committed to a significant 15-year lease for a commercial building in Stones Corner, set to house multiple south Brisbane stations. The deal, worth up to $240 million, has raised questions about its cost-effectiveness, particularly given that developers purchased the building for $45 million in 2021. The new mega police station is expected to enhance services ahead of the 2032 Olympics but has been met with concern regarding its financial impact.

Retail:

Milton, QLD

• Transaction Details: Sale of café space at 83/19 Railway Terrace

• Sale Price: $575,000

• Lease Details: Tenanted by café Neighbour with a lease through 2029 and two renewal options

• Commentary: The long-term lease for the café space in Milton’s Aura residential building reflects the strength of Brisbane’s inner-city retail market. Investors are attracted to stable, tenanted properties with long lease terms, ensuring a reliable income stream.

Tourism:

Gold Coast, QLD

• Buyer: Star Hotels Queensland (Steven Shoobridge)

• Transaction Details: Purchase of Rydges Gold Coast Airport Hotel

• Sale Price: $60 million

• Property: 200-room hotel, metres from the Gold Coast Airport

• Commentary: The off-market sale of Rydges Gold Coast Airport Hotel highlights growing confidence in Queensland’s tourism sector. The strategic location near the airport and local attractions makes it a prime asset for Star Hotels Queensland, adding to their extensive hospitality portfolio.

Regional:

Townsville, QLD

• Buyer: Fawkner Property Group

• Transaction Details: Purchase of Willows Shopping Centre

• Sale Price: $212 million

• Property: 44,500 sqm sub-regional shopping centre anchored by Coles, Woolworths, Big W, and ALDI

• Commentary: The sale of Willows Shopping Centre marks the largest retail transaction in Queensland this year. The centre’s strong tenant mix and recent refurbishments make it a high-performing asset, attracting significant investor interest in regional retail properties.

These transactions highlight the diversity and resilience of Queensland’s commercial property market, with strong demand for industrial, retail, office, and tourism assets across both urban and regional areas.

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.

Liability Limited by a Scheme approved under Professional Standards Legislation

The Queensland commercial property market continues to demonstrate resilience and growth, with a diverse range of transactions across retail, industrial, and development sectors. Recent lease agreements, property acquisitions, and government-approved developments signal strong demand for well-located assets in both suburban and regional areas. From bustling retail spaces in Taringa to industrial hubs like Murarrie and Rothwell, investors are presented with numerous opportunities to capitalise on emerging trends and secure long-term returns. As the state addresses housing shortages and infrastructure growth, strategic investments in these high-performing sectors can offer significant value in the evolving property landscape.

Retail:

Taringa, QLD

· Tenant: Figgz Cafe

· Lease Details: Four-year lease with an option over a 128 sqm shopfront

· Rent: $54,400 gross per year plus GST

· Location: 486 Whitmore Street

· Commentary: Figgz Cafe’s commitment to a long-term lease in Taringa highlights the ongoing demand for well-located retail spaces in Brisbane’s south-west. The location is ideal for capturing local foot traffic, and the gross lease structure provides clarity and predictability for both tenant and landlord.

Beaudesert, QLD

· Tenant: Barber Shop

· Lease Details: Three-year lease with an option over a 58 sqm retail unit

· Rent: $35,000 net per year plus GST

· Location: Beaudesert Central Shopping Centre, 1/125-143 Brisbane Street

· Commentary: The barber shop’s lease in Beaudesert Central Shopping Centre reflects the steady demand for retail units in regional centres. The net lease arrangement, which excludes outgoings, indicates a strong tenant commitment to the location.

Development & Land:

Kallangur, QLD

· Buyer: Roycorp (Gold Coast-based townhouse developer)

· Transaction Details: Purchase of a 5,547 sqm infill site for $3.45 million at auction

· Location: 79-85 School Road

· Zoning: General residential, with potential for medium-density residential development

· Commentary: The acquisition of this Kallangur site by Roycorp underscores the ongoing interest in infill development sites in Brisbane’s northern suburbs. With a previous approval for a 270-bed student housing project, the site’s versatility offers significant development potential in a growing area.

Qld govt approves controversial redevelopment

Queensland Housing Minister Meaghan Scanlon has approved the controversial redevelopment of the Arundel Hills Country Club golf course, which will allow the construction of at least 650 homes. This decision comes after the club was abandoned due to the owner’s financial troubles. The $150 million development, led by Arundel Estate Developments Pty Ltd, had previously been unanimously rejected by the Gold Coast Council, leading the developers to appeal.

Scanlon’s approval, facilitated through a Temporary Local Planning Instrument (TLPI), overrides the council’s decision and includes provisions for a minimum of 20% affordable housing. Over 60% of the 67-hectare site will be preserved for recreation and conservation. The project aims to address the Gold Coast’s housing shortage, as the area requires over 6,000 new homes annually. The site will include a mix of low-rise and medium-density housing, with some areas reserved for wildlife conservation and public amenities (Ministerial Media Statements,Mirage News,7NEWS).

Industrial:

Rothwell, QLD

· Tenant: JD Pinoy

· Lease Details: Two-year lease over a warehouse and office unit

· Rent: $47,400 gross per year

· Location: 2/B2 739 Deception Bay Road

· Commentary: JD Pinoy’s lease in Rothwell highlights the demand for industrial units with office space in the northern suburbs. The gross lease simplifies cost management for the tenant, making it an attractive option for businesses seeking flexibility and functionality.

Carole Park, QLD

· Buyer: Brisbane engineering company

· Transaction Details: Purchase of a vacant warehouse for $8 million plus GST

· Property Size: 1,872 sqm warehouse on an 8,724 sqm corner land parcel

· Location: 148-150 Cobalt Street

· Commentary: This acquisition by a Brisbane engineering company is a strategic move to accommodate growth. The purchase of a property held by the same owners for nearly 40 years underscores the value of well-located industrial assets in Brisbane’s south. The corner land parcel offers future expansion potential, making it a sound long-term investment.

Regional Insights:

Townsville, QLD

· Auction Highlights:

o 450-456 Bayswater Rd: Fast food and convenience retail outlet sold for $7.8 million with a yield of 7.3%.

o 77-79 Bowen Rd: Caltex service station with Night Owl sold for $3.04 million.

o Bolam St, Garbutt: Soon-to-be rebranded Caltex service station and industrial depot sold for $2.881 million.

Townsville’s commercial property market continues to attract southern investors, driven by the region’s strong economic fundamentals and high-performing assets with long-term lease security. The success of these auctions demonstrates growing investor confidence in North Queensland, with attractive yields that have traditionally been reserved for more southern region.

Murarrie, QLD

· Seller: New Britain Catholic Investment (Registered charity)

· Transaction Details: Sale of three industrial properties in Brisbane for a combined total of nearly $14.4 million.

1. Murarrie Properties:

o Location: 1-5/22 Alexandra Place and 4/9 Archimedes Place

o Details: Six units sold for just under $8 million

o Buyers: Five investors and one owner-occupier

o Commentary: The sale of these six industrial units in Murarrie to a mix of investors and owner-occupiers reflects the continuing demand for industrial assets in Brisbane’s eastern suburbs. Murarrie’s strategic location, close to the Brisbane CBD and Port of Brisbane, makes it an attractive area for businesses requiring access to key transport routes.

2. Capalaba Property:

o Location: 33-35 Neumann Road, Capalaba

o Details: Sold for $6.4 million to an owner-occupier

o Commentary: The sale of the Capalaba property to an owner-occupier highlights the appeal of southeast Brisbane for industrial users. Capalaba is known for its industrial hubs, offering strong connectivity to major roads and infrastructure. The owner-occupier acquisition suggests confidence in the long-term growth prospects of the area.

New Britain Catholic Investment, having collected these properties between 2003 and 2008, capitalised on the strong demand for industrial properties in Brisbane. With total sales of nearly $14.4 million, the transaction reflects the resilience of Brisbane’s industrial market, where both investors and owner-occupiers are actively seeking opportunities.

Investors should focus on sectors and locations that align with growing demand. Retail properties in prime suburban and regional locations, development sites in growth corridors, and well-located industrial assets remain solid investment opportunities. Furthermore, staying attuned to government interventions and regional market dynamics can offer unique investment prospects with attractive yields and growth potential.

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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Brisbane CBD, QLD

• Property Address: 152 Queen Street

• Property Type: Three-Level Retail Building

• Sale Price: $14 million

• Lessee: The Body Shop Australia

• Property Size: Over 660 square metres of net lettable area

• Frontage: 7 metres

• 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

Click here to get your opportunity

MacGregor, QLD

• Property Address: 519 Kessels Road

• Property Type: Two-Level Office Building

• Sale Price: $5.4 million

• Building Size: 1,666 square metres

• Site Size: 2,668 square metres

• Occupancy: Around 50% occupancy with multiple periodic leases, including tenants such as Dignified Care, CH Legal Group, and Future Business Technology Group

• 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

• Property Address: 8/554 Lutwyche Road

• Property Type: Retail Unit

• Lease Details: Pod1um Group Fitness has leased a 330-square-metre retail unit.

• Lease Term: Five-year deal

• 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

• Property Address: 33 Port Drive, The Boathouse Apartments

• Property Type: Ground Floor Retail Property

• Sale Price: $7.3 million

• Property Size: 1,719 square metres

• Tenancies: 13 tenancies including national retailers like Billabong and Seafolly, as well as restaurants and tourism services

• Net Income: $841,597 per year plus GST

• Lease Expiry: Weighted average lease expiry of 4.23 years

• Additional Features: 4,913 square metre entitlement area extending towards the marina, 56 basement car parks

• Developer: Meridien (developed in 2011)

• 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

• Property Address: 4/86 Whitmore Street

• Lessee: Figgz Café

• Property Type: Retail Shop

• Lease Details: Four-year lease with an option

• Unit Size: 128 square metres

• 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

• Property Address: 162 Hume Street

• Property Type: Office Building

• Sale Price: $8.475 million

• Property Size: 2,160 square metres (about four times the area of a basketball court) of net lettable floorspace

• Site Size: 3,680 square metres

• Car Spaces: 72

• 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)

• Lease Expiry: Weighted average lease expiry of 3.6 years

• Yield: Passing yield of 8.2 percent

• 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

• Property Address: 1-2/27 Mayneview Street

• Lessee: Conscious Care

• Property Type: Office Unit

• Lease Details: Three-year lease with an option

• Unit Size: 245 square metres (about the area of a tennis court)

• 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

• Property Address: 2/B2 739 Deception Bay Road

• Lessee: JD Pinoy

• Property Type: Office/Warehouse Unit

• Lease Details: Two-year lease

• 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

• Location: Corner of Graf Drive and Aura Boulevard, adjacent to the Aura Business Park

• Project: Aura Home + Life Retail Precinct

• Developer: Capital Property Group (Canberra-based)

• Investment Amount: $65 million

• Property Size: 18,000 square metres of large-format retail space

• Job Creation: Approximately 100 jobs during construction and over 200 permanent and casual jobs upon completion

• Completion Timeline: Construction expected to start in early 2025, with completion and stores open for trading in early to mid-2026

• 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

• Location: Tallebudgera Creek Road

• Project: Three-storey mixed-use development

• Developer: Australian Good Food Guide Publishing

• Property Size: 1,183 square metres (about twice the area of a basketball court)

• Features: Three units, a home office, a café, and a shop

• 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

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.

Liability Limited by a Scheme approved under Professional Standards Legislation

The Queensland property market continues to showcase a diverse range of investment opportunities across retail, office, and industrial sectors. Recent transactions highlight the robust demand and investor confidence in various regions, from Brisbane’s bustling suburbs to the strategic locations of the Sunshine Coast and Moreton Bay.

Retail

Clontarf, QLD

• Property Address: 80 Hornibrook Esplanade

• Property Type: Ground Floor Retail Asset

• Location: City of Moreton Bay

• Sale Price: $1.28 million

• Yield: 6.9%

Comment: The sale of this retail asset in Clontarf at a 6.9% yield demonstrates investor confidence in the retail sector within the Moreton Bay region.

Enoggera, QLD

• Property Address: 159 Samford Road

• Property Type: Old-Style Shop

• Location: Brisbane’s North-Western Suburbs

• Sale Price: $955,000

• Size: 94 square metres

• Block Size: 407 square metres

• Rental Return: $52,646 per annum net plus outgoings and GST

• Tenants: Two tenants

Comment: The purchase of this old-style shop in Enoggera reflects continued interest in small-scale retail investments in Brisbane’s suburban areas, offering steady rental returns.

Office

Albion, QLD

• Property Address: 6/14 Argyle Street

• Property Type: Office Unit

• Location: Brisbane’s Inner North-East

• Size: 37 square metres

• Sale Price: $140,000

Comment: This transaction highlights the affordability and appeal of small office spaces in inner Brisbane, particularly for investors or small businesses looking for a strategic location at a reasonable price.

Industrial

Kunda Park, QLD

• Property Address: 3/3 Hitech Drive

• Property Type: Strata Industrial Unit

• Location: Sunshine Coast

• Size: 164 square metres

• Sale Price: $575,000

• Buyer Type: Owner Occupier

Comment: The sale of this industrial unit in Kunda Park reflects the continued demand for industrial properties on the Sunshine Coast, particularly among owner-occupiers seeking to establish or expand their operations.

Acacia Ridge, QLD

• Property Address: 28-32 Loam Street, Botanica Park

• Development: Brix Industrial Development

• Location: South-East Brisbane

• Total Sale Value: $12.8 million

• Unit Sizes: Ranging from 133 to 436 square metres

• Individual Sale Prices: From $530,000 to $1.665 million

• Buyer Type: Mix of Owner Occupiers and Investors

• Lease Activity: New leases secured within four to six weeks of settlement, with rents between $242 and $292 per square metre net

• Occupiers: Companies such as Jasper Methods, Fox & Fallow, Infinity Integrated Services, Paradigm, and Brolube

• Future Projects: Brix has multiple active and upcoming projects in Queensland and Victoria.

Comment: The rapid sell-out and subsequent lease activity at Botanica Park highlight the strong demand for industrial spaces in Brisbane’s south-east. The project’s success is indicative of the robust industrial market in the area.

Oakey, QLD

• Property Address: 6-8 Gayle Street

• Property Type: Industrial Site

• Location: Toowoomba Region

• Occupant: Nutrien Ag Solutions

• Sale Price: $781,000

• Site Size: 3,360 square metres

• Building Size: 550 square metres

• Lease Term: Three years to 2026, with options for additional three years

• Annual Rent: $50,811 plus GST

Comment: The sale of this site, occupied by a major agricultural services provider, underscores the importance of strategically located industrial properties in supporting Australia’s farming sector. The lease to Nutrien Ag Solutions, a subsidiary of a global farming giant, adds significant value to the property.

Lytton, QLD

• Property Address: Port West Industrial Estate, Lytton

• Tenant: Bridgestone

• Location: Port of Brisbane

• Property Size: 5.16 hectares

• Development: New Queensland distribution centre

• Facility Size: 23,340 square metre warehouse, 350 square metre office, 20,340 square metre hardstand, 3,800 square metre car parking

Comment: Bridgestone’s pre-commitment to this large distribution centre at the Port of Brisbane signals confidence in the region’s logistics and distribution capabilities. The scale of the development highlights the importance of the Port West Industrial Estate in supporting global supply chains.

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Whether you are looking to Lease or Buy, we have a wide range of properties available to meet your needs.

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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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Retail Sector

Rental:

• Rental activity in the retail sector is characterized by stable lease agreements, as seen in Kedron, QLD, where a 102 sqm shop was leased at $75,000 gross per year plus GST. This suggests that retail rents in well-positioned areas remain strong, with tenants willing to commit to long-term leases.

Sales:

• Retail properties are selling quickly and at attractive yields. For example, a retail investment in Clontarf, QLD, sold within 40 hours at a price representing a 6.9% yield, and a property in Bulimba, QLD, sold for $4.2 million with a yield of 5.43%. This indicates robust demand for well-tenanted retail spaces, particularly those with established tenants like Grill’d.

Leasing:

• Leasing in the retail sector remains active, with long-term commitments from tenants. The five-year lease in Kedron, QLD, demonstrates tenant confidence in the retail market, particularly in suburban locations.

Investment:

• Investors are drawn to retail properties offering solid returns and stable tenancies. The quick sale in Clontarf and the strong yield in Bulimba reflect investor confidence in retail properties, especially those in strategic locations with reliable tenants.

Future Outlook:

• The retail sector is expected to remain resilient, particularly in areas with high consumer traffic and well-known tenants. The strong investor interest and quick turnaround times for sales suggest continued confidence in retail as a stable investment, although the sector may face challenges if consumer spending patterns shift or if economic conditions worsen.

Development Sector

Rental:

• Not directly applicable in the current context as the focus is on development sites rather than rental properties.

Sales:

• Development sites are attracting significant interest, with notable transactions like the $4 million sale of a site in Woolloongabba, QLD. This site was initially planned for a 12-storey residential building, indicating that developers are still pursuing large-scale residential projects in key urban areas.

Leasing:

• Not directly applicable to the development sector, as the focus is on the sale and acquisition of land and development sites.

Investment:

• Investment in development sites remains strong, particularly for properties with potential for high-density residential projects. The staggered payment structure for the Woolloongabba site sale reflects the strategic financial planning often required in development deals.

Future Outlook:

• The development sector is likely to see continued interest, particularly in urban areas where there is potential for high-density residential or mixed-use projects. However, the market may face challenges if construction costs rise or if there are delays in planning approvals. Developers will need to be strategic in selecting sites with strong future growth potential.

Office Sector

Rental:

• The office sector continues to see stable rental activity, with new leases being secured at competitive rates. For instance, a 389 sqm office space in Fortitude Valley, QLD, was leased at $140,000 per year plus GST, reflecting steady demand for office space in key business districts.

Sales:

• Office buildings, particularly multi-tenanted ones, are in demand, as seen in the $9 million purchase of a three-storey office building in Helensvale, QLD. Investors are targeting properties with stable, long-term tenants and favorable lease expiries.

Leasing:

• Leasing activity in the office sector remains healthy, with tenants securing long-term leases with options. This suggests that businesses are looking for stability and are willing to commit to long-term leases in well-located office spaces.

Investment:

• Investment in the office sector is driven by the appeal of multi-tenanted buildings with diversified income streams. The purchase in Helensvale indicates investor confidence in the office market, especially in areas with a growing business presence.

Future Outlook:

• The office sector is expected to remain stable, with continued demand for well-located, multi-tenanted buildings. However, the sector may face challenges related to shifts in working patterns, such as increased remote work, which could impact demand for office space in some areas.

Industrial Property Sector

Rental:

• The industrial property sector is experiencing a slowdown in rental growth across most core markets. However, certain regions like Sydney West continue to see strong rental growth, with rents significantly higher than pre-2019 levels. The overall trend indicates a deceleration in rental increases, potentially due to rising vacancy rates.

Sales:

• Industrial properties continue to attract significant investment, with national investment volumes reaching $3 billion in Q2, reflecting an 8% increase from the previous quarter. The acquisition of large portfolios, such as the $780 million purchase by Barings and REST Super, indicates strong investor confidence in the industrial sector.

Leasing:

• Leasing activity in the industrial sector has returned to pre-pandemic levels, with a notable 20% increase over the quarter. The sector is dominated by transport and logistics tenants, who account for a substantial portion of leasing activity. This reflects the ongoing demand for industrial space driven by e-commerce and supply chain needs.

Investment:

• Investment in the industrial sector remains robust, particularly in the logistics and warehousing segments. The sector’s shift towards industrial logistics is driving increased land banking activity in key markets like Melbourne and Sydney. Despite rising vacancy rates, the long-term outlook remains positive due to structural shifts in supply chains.

Future Outlook:

• The industrial sector is expected to continue evolving, with a strong focus on logistics and warehousing. While rental growth may slow and vacancy rates may rise slightly, the long-term prospects are positive due to ongoing demand from e-commerce and the need for efficient supply chain infrastructure. Investors should monitor rental trends and vacancy rates closely, as these could impact capital values if effective rents decline.

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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Office Transactions:

1. Heritage-Listed Building in Brisbane CBD

   • Location: 47 Edward Street, Brisbane, QLD
   • Property Type: Five-storey Victorian warehouse
   • Building Area: 772 sqm
   • Purchase Price: $5.5 million
   • Buyer: Horton Media Australia
   • Key Features:
     • Character-filled heritage-listed building with views over the Brisbane River and Botanic Gardens.
     • 8.5m frontage to both Edward Street and Spencer Lane.
     • Austere classical detailing in rendered and unrendered brickwork, reflecting late 19th-century warehouse architecture.
   • Commentary:
     • The building’s unique character and prime location within the Brisbane CBD attracted significant interest, highlighting the demand for heritage properties in prestigious locations.
     • Horton Media Australia plans to restore the building, potentially transforming it into a prominent location for a high-end retailer or similar tenant seeking exposure in the city’s prestigious corner.
     • The sale underscores the value of heritage properties in central urban locations, particularly those with distinctive architectural features and proximity to key transport links and city developments.

2. Inner Brisbane Office Assets

   • Location: 49 and 75/283 Given Terrace, Paddington, QLD
   • Property Type: Office spaces
   • Total Area: 82 sqm (gross floor area)
   • Purchase Price: $435,000
   • Buyer: Private investor
   • Commentary:
     • The acquisition of these office assets in Paddington, a sought-after inner Brisbane suburb, reflects continued interest in smaller office spaces within vibrant and well-located areas.
     • These assets provide the investor with flexible space options in a competitive market, likely appealing to small businesses or professionals seeking office space in an accessible location.

Retail Transaction:

1. Shopfront Lease in Wavell Heights
   • Location: B/65 Newman Road, Wavell Heights, QLD
   • Property Type: Retail shopfront
   • Lease Term: Six years plus an option
   • Space: 45 sqm
   • Annual Rent: $27,500 (gross)
   • Tenant: TM & Associates
   • Commentary:
     • The long-term lease of this small retail space in Brisbane’s northern suburbs indicates steady demand for accessible retail locations in suburban areas.
     • The gross lease arrangement provides a straightforward and predictable expense structure for the tenant, likely making it an attractive proposition for small businesses looking to establish or maintain a presence in the area.

These transactions reflect a diverse range of activity in Brisbane’s commercial property market, spanning heritage-listed office buildings in the CBD, smaller office investments in inner suburbs, and suburban retail leases. The continued interest in well-located, character-filled properties, both for purchase and lease, underscores the strength and resilience of Brisbane’s commercial property market, driven by the city’s ongoing development and appeal to both local and interstate investors.

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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The sale was facilitated by Michael Hedger and Joe Tynan from CBRE and is part of CLW’s portfolio strategy, which also involved the divestment of industrial and office properties.

Located at 588 Redbank Plains Road, the retail centre is a convenience-oriented site with over 89% of its income secured by national and global retailers. The property boasts a weighted average lease expiry of 6.27 years, with tenants such as Ampol, Krispy Kreme, Zarraffa’s Coffee, and Carl’s Jr, among other complementary retailers.

Simon Worth, Head of Capital Transactions at Westbridge Funds Management, highlighted the centre’s leasing profile, which features a mix of CPI and fixed review structures. He stated that this acquisition strengthens the fund’s defensive income strategy, which is crucial in mitigating the impacts of the current high inflation environment.

Worth also pointed out that the centre is located within the rapidly growing Ipswich local government area, aligning with Westbridge’s mandate to invest in locations with strong long-term capital growth prospects.

Situated 25 kilometres southwest of Brisbane’s CBD, Ipswich City Council’s population is expected to grow by approximately 140% by 2041, according to data from the 2021 Census, supported by significant residential projects from Lendlease and Peet.

Damian Collins, Chairman of Westbridge Funds Management, described the Redbank Plains Retail Centre as an ideal addition to the fund’s portfolio, which now includes assets in Western Australia, Victoria, and Queensland. This diversification across sectors and locations provides investors with enhanced portfolio stability.

Westbridge Diversified Fund No. 4 concludes with approximately $125 million in assets, featuring a diverse range of high-profile tenants such as Dan Murphy’s, Holman’s Industries, Ampol, 7-Eleven, Swick Mining (Perenti), and Blackwoods, a subsidiary of Wesfarmers.

Contact McGees

McGees Property has a proven track record of successfully selling and managing similar assets in the Goodna area. If you have commercial properties in the Ipswich region and are looking for expert management, we are here to help. Our deep understanding of the Ipswich market makes us the perfect partner for your property needs.

Contact McGees Property Brisbane today for all your sales, leasing, and property management requirements in Ipswich. Let us help you maximise the potential of your commercial properties.

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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