Queensland Commercial Property Market Wrap – Week Ending 10 July 2025

The Queensland commercial property market continued to show resilience and strategic momentum in the week ending 10 July 2025. Major office and retail assets changed hands, landmark development sites were secured, and investor confidence held strong across Brisbane, the Gold Coast, and regional centres. Meanwhile, sweeping legal reforms and infrastructure pressures added new layers of complexity for buyers, sellers, and landlords alike. Here’s a breakdown of the key transactions and updates shaping the state’s real estate landscape this week.

OFFICE

Green Square South Tower, Fortitude Valley
Sentinel Property Group acquired the A-grade Green Square South Tower in Brisbane’s Fortitude Valley for $132.01 million. The fully leased office building spans 17,618 sqm and is home to Brisbane City Council. The acquisition follows an $86.1 million capital raise and is part of the newly created Sentinel Games Precinct Trust. This is the first office sale exceeding $100 million outside the CBD since 2022.

73 Mary Street, Gympie
A fully leased commercial office building in Gympie sold for $1.05 million, reflecting a 7.5% net yield. The property houses three secure tenants: Brown Jug Café, H&R Block, and A Beautiful You salon. Located in a high-traffic area, it delivers a net income of $87,639 per annum.

Brisbane Technology Park Portfolio, Eight Mile Plains
Funds manager Corval is set to acquire seven office and mixed-use properties in Brisbane Technology Park for $115.2 million. The assets include laboratories, childcare, café, warehousing, and vacant land. The passing yield is 7.7%, with potential to hit 10.1% at full occupancy. The deal will seed the Corval BTP Trust.

514 Sturt Street, Townsville (Former Suncorp Building)
Explore Property signed a three-year lease on a prominent CBD office space as part of its regional headquarters expansion. The building will serve as a training and operations hub for the agency’s growing franchise network across Queensland.

LAND & DEVELOPMENT

47 Skyring Terrace, Newstead (Brisbane)
Consolidated Properties Group purchased this absolute riverfront site for $64.5 million in an off-market deal. The 9368 sqm site is zoned for mixed use and allows for up to 42,000 sqm of floor space and a 25-storey height limit. The group plans to deliver a premium apartment project.

Burly Residences, North Burleigh (Gold Coast)
Developer David Devine secured $380 million in funding from MA Financial Group and Warburg Pincus to complete the $540 million Burly Residences beachfront apartment tower. The 25-storey development is due for completion in 2027.

General News

Queensland’s Property Law Shake-Up

From 1 August 2025, Queensland will enact sweeping reforms under the Property Law Act 2023. A mandatory seller disclosure regime will require sellers to provide detailed property documents before contract signing, shifting risk and responsibility to vendors. Legal experts advise sellers to engage solicitors to avoid potential contract termination due to inaccurate or missing disclosures.

References

• Herde, C. (2025, July 6). Tower on the money. The Courier-Mail, 67.

• Wilmot, B. (2025, July 6). Dexus trust offloading Brisbane tech park. The Australian, 20.

• Herde, C. (2025, July 6). Quality shopping centre lures Brisbane investors. The Courier-Mail, 67.

• Carruthers, P. (2025, July 6). Group splurges on shops. The Cairns Post, 13.

• Smith, L. (2025, July 8). Building on solid ground. Townsville Bulletin, 18.

• Realcommercial.com.au. (2025, July 5). 73 Mary Street, Gympie QLD 4570 [Property Listing].

• Herde, C. (2025, July 6). Plans for riverfront gem. The Courier-Mail, 68.

• The Australian. (2025, July 9). Seller disclosed. The Australian.

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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Queensland Commercial Property Market Wrap – Week Ending 3rd July 2025

Market Overview

Queensland’s commercial property market continues to show resilience and strategic activity across office, retail, industrial and development sectors. Notable sales across Brisbane, Gold Coast, and regional centres like Cairns and Kingaroy underline steady investor appetite despite broader economic headwinds. Activity was strong in the city fringe, and buyers remain particularly focused on quality, long-leased assets and sites with future development upside.

Office

15 Lang Parade, Milton
Family-owned FKG Group paid $4.44 million for a two-storey office building in Brisbane’s inner west to accommodate its subsidiary GFG Projects. The acquisition includes a three-year leaseback on the upper floor, offering short-term income and long-term strategic utility for the firm.

38 Southgate Avenue, Cannon Hill
Natgen Investment Trust SG25 secured this three-level office property for $22 million as part of a broader fund strategy targeting 8.3% annual returns. The deal reflects confidence in Brisbane’s suburban office market, underpinned by improved leasing conditions and limited new supply in well-connected areas.

Green Square South Tower, Fortitude Valley
Sentinel Property Group acquired the 18,000 sqm A-grade office tower for more than $100 million—the largest fringe office sale since 2022. This off-market deal confirms the return of counter-cyclical capital to Brisbane’s office sector, driven by confidence in long-term infrastructure and Olympic-led growth.

Industrial & Logistics

Gateway Capital QLD Portfolio
Four assets were offloaded as part of Gateway Capital’s $135 million Eastern Seaboard divestment strategy:

• • 227–247 Fleming Rd, Hemmant: Sold for $46.6m to Irongate.

  • 163 Ingrams Rd, Acacia Ridge: $28.53m

  • 149–157 Jackson Rd, Acacia Ridge: $17m

  • 189 Ingrams Rd, Acacia Ridge: $17m
    These properties offer over 50,000 sqm of GLA across 14.6 hectares, with strong interest from private capital and owner-occupiers.

Pine Ridge Mechanical, Gold Coast
A 610 sqm freehold industrial asset was acquired for $1.725 million, reflecting a sharp 4.52% yield. Located opposite Norco Foods, the compact site attracted nine offers, proving high demand for sub-$2 million industrial stock.

Flagstone Stage 7H, Logan
A local developer secured the final 5,231 sqm parcel for $1.78 million, confirming sustained demand for commercial land in growth corridors. Notable occupiers in the area include Lifeline and World Gym.

Retail

Hollywood Plaza, Helensvale
Two Brisbane-based investors acquired this neighbourhood shopping centre for $6.4 million, achieving a 6% yield. Anchored by tenants like Sushi Train, H&R Block and a gym, the 1,128 sqm building sits on a 3,485 sqm site and is adjacent to the M1.

Clifton Village, Cairns (Far North QLD)
Fawkner Property Group paid $34 million for this 7,811 sqm shopping centre, which includes a refurbished Coles, Liquorland, The Reject Shop, and healthcare tenants. The asset drew nine offers, driven by investor appetite for well-located, inflation-resistant retail.

Childcare

The Kingaroy Childcare Centre, 261 Haly St
Sold for $4.5 million with a new 15-year lease through 2038, the purpose-built centre generates a 7.7% net yield. It sits on a 4,047 sqm site surrounded by five schools, with future plans to expand capacity from 74 to 91 places.

Development & Landbanking

32 Brookes St and 35 Jeays St, Bowen Hills
A local owner of adjacent sites consolidated his holdings with a $4.7 million acquisition of these two flood-free properties, creating a 1,300 sqm amalgamated parcel in the RNA/Olympic precinct. The move positions the buyer for future high-density mixed-use development.

General News

Construction Disruption Worsens

According to The Australian, average home construction times have ballooned 50% over the past year, now taking 12.7 months versus 8.5 in 2014. Material costs have surged by over 50% nationally, with Queensland recording a 58% increase over the past decade. These delays further strain the National Housing Accord’s 1.2 million-home goal, which is already 55,300 homes behind schedule in its first year.

Labour Shortages Pressure Commercial Buildouts

As reported by the Australian Financial Review, Queensland’s looming Olympic infrastructure boom will intensify the state’s construction worker shortfall. Already requiring 18,500 more workers to meet its housing targets, the state faces mounting labour and material constraints that may slow commercial refurbishments, shopfitting, and capital works. Builders are urged to accelerate projects before the 2028–2032 peak activity window.

Union Strikes Impact Project Timelines

CFMEU-led strikes disrupted major sites in Brisbane and the Gold Coast last week, resulting in site shutdowns and cost overruns. The strikes, deemed unauthorised by the union’s administration, have caused delays across sectors, with subcontractors bearing financial burdens due to forced stoppages.

In short, for commercial landlords, these construction and labour headwinds signal higher costs and longer timelines for upgrades, refurbishments, and tenant fit-outs. With material prices surging and skilled labour increasingly scarce—particularly as Queensland ramps up Olympic-related infrastructure—routine capital works may face significant delays. Union-led strikes further compound the risk, disrupting active sites and increasing holding costs. Landlords planning repositioning, value-add works, or new builds may need to lock in trades early, adjust project budgets upward, and manage tenant expectations more carefully in the years ahead.

References

• Herde, C. (2025, July 3). FKG locks in property. The Courier-Mail, p. 65.

• Herde, C. (2025, July 3). Gateway sells off four QLD assets. The Courier-Mail, p. 65.

• Herde, C. (2025, July 3). Adjoining sites attract Bowen Hills neighbour. The Courier-Mail, p. 66.

• Herde, C. (2025, July 3). Quality shopping centre lures Brisbane investors. The Courier-Mail, p. 67.

• Carruthers, P. (2025, July 3). Group splurges on shops. The Cairns Post, p. 13.

• Pett, S. (2025, July 3). Fringe appeal. Financial Review.

• Wang, J. (2025, July 3). Build times go through the roof. The Australian, p. 7.

• Marin-Guzman, D. (2025, June 23). Builders brace for more strikes. Financial Review.

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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Queensland Commercial Property Wrap – Week Ending 26 June 2025

Market Overview

Investor confidence in Queensland’s commercial property market remained robust this week, driven by continued interest from interstate and offshore buyers. Hospitality, office, industrial, and retail sectors saw notable activity, while government policy announcements added momentum to residential and infrastructure development. The Brisbane Olympics and ongoing infrastructure spend continue to underpin long-term optimism across the market.

Retail & Mixed-Use

201 Elizabeth Street, Brisbane CBD

A Singapore-based investor, through Prestige Venture Australia, acquired a two-level mixed-use building in Brisbane’s Edward Street luxury precinct for $9 million. Previously owned by The Hour Glass, the 500 sqm asset has short leases and offers repositioning potential. The purchase reflects a 5% yield and a capital value of $11,968/sqm. (Herde, 2025a)

Hospitality

Parkhurst Tavern, Rockhampton

The Star Group purchased the Parkhurst Tavern for approximately $24 million from O’Hara Hotel Group. The venue includes 36 gaming machines and sits on a 6,700 sqm block. It adds to Star Group’s growing regional Queensland portfolio. (Petty, 2025)

Cleveland Courthouse, Cleveland

The heritage-listed waterfront property at 149 Shore St North sold for $4 million. Purchased by one of the Indian Brothers restaurant group founders, it will be restored and operated as a restaurant and wedding venue. (Herde, 2025b)

Industrial & Development

46 Flinders Parade, North Lakes

A Sydney-based high-net-worth investor purchased a 2,407 sqm office/warehouse for $7.6 million, leased to ACD Trade. The acquisition highlights Brisbane’s relative value compared to Sydney. (Herde, 2025d)

Stage 7H, Gates Rd, Flagstone

A local industrial developer acquired the final 5,231 sqm parcel in PEET Limited’s Flagstone masterplanned estate for $1.78 million. The site attracted multiple buyer profiles amid strong demand for commercial land. (Herde, 2025e)

General News

Labour Shortages Threaten Project Timelines

Queensland is expected to fall short of its housing and infrastructure targets due to a shortage of 18,500 construction workers. The upcoming Brisbane Olympics is set to amplify labour and material constraints, posing risks to commercial renovations, refurbishments, and shopfitting. (Bleby, 2025)

Industrial Action Hits Construction Sites

Unplanned CFMEU-led strikes caused disruptions across Brisbane and Gold Coast construction sites. These actions have delayed project timelines, particularly where essential services were halted due to absent workers. (Marin-Guzman, 2025)

Housing Affordability & Development Support

The Queensland government announced a $165 million Boost to Buy shared equity scheme, allowing eligible buyers to enter the market with as little as a 2% deposit. Paired with the $2 billion Residential Activation Fund and an expanded First Home Owner Grant, these measures aim to fast-track land activation and ease the housing crisis. The initiatives are expected to support commercial demand by accelerating population growth and residential development across Queensland. (de Blonk Smith, 2025)

This week’s transactions and policy announcements underline the strength and depth of Queensland’s commercial property market. With activity ranging from boutique retail and heritage hospitality to industrial land and modern offices, investors continue to see value across asset classes. Broader government efforts to boost housing and infrastructure development further solidify the state’s position as a national investment hotspot.

References

Bleby, M. (2025, June 13). In Queensland, another 18,500 building workers won’t be enough. Australian Financial Review.

Herde, C. (2025a, June 20). Boutique is in vogue. The Courier-Mail, p. 85.

Petty, S. (2025, June 24). Star Group on a roll with $24m Qld pub deal. Australian Financial Review.

Herde, C. (2025b, June 20). Gavel falls on courthouse. The Courier-Mail, p. 87.

Herde, C. (2025c, June 20). Cannon Hill is going off. The Courier-Mail, p. 88.

Herde, C. (2025d, June 20). The big money heading our way. The Courier-Mail, p. 85.

Herde, C. (2025e, June 20). Final Flagstone parcel sold. The Courier-Mail, p. 88.

Marin-Guzman, D. (2025, June 23). Builders brace for more strikes. Australian Financial Review.

de Blonk Smith, M. (2025, June 24). Queensland budget to boost housing access and supply. The Australian (Online).

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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Market Overview

Investor interest in Queensland commercial real estate remains robust across sectors, with strong demand for healthcare, logistics, and owner-occupier assets. High-profile transactions this week included Tangalooma Island Resort’s Eagle Farm acquisition, multiple medical asset sales, and Natgen’s $22 million office purchase in Cannon Hill. Meanwhile, labour shortages and Olympic infrastructure are putting pressure on future developments and fit-out timelines across the state.

This Week’s Highlights

• Industrial: $21.45m TradeCoast site acquired by MaxCap and Centennial JV; Cosgrove Group buys Lawnton asset leased to AEC for $13.5m.

• Medical & Retail: Mitchelton, Auchenflower, and Seven Hills assets change hands for over $17m combined.

• Owner-Occupier: Tangalooma secures long-held Eagle Farm base; Springwood office sold to Australian Childcare Alliance.

• Office: Natgen acquires Cannon Hill asset for $22m; multiple small office assets transact.

• General News: Labour shortages threaten renovation and construction timelines across SEQ; luxury developer ordered to pay $6.1m in sunset clause dispute.

Industrial & Warehouse

33 Queensport Road, Murarrie

A joint venture between Centennial and MaxCap Group acquired a 38,750 sqm site for $21.45 million. Construction is underway on Gateway Industrial Park, which will include two warehouses and a cold storage facility. Completion is expected mid-2026 with an end value of $90 million.

768–772 Gympie Road, Lawnton

Cosgrove Group purchased this 5682 sqm AEC-leased warehouse for $13.5 million. The property, sitting on a 1.44 ha site, will be refurbished once the current lease expires in December.

Medical & Retail

87 Osborne Avenue, Mitchelton

An investor paid $7.285 million for a 417 sqm office to be converted into a medical facility leased to Evercare on a 10-year term. Yield: 6.15%.

104 Haig Road, Auchenflower

A tightly held medical asset sold at auction for $2.825 million on a 4.68% yield. The 421 sqm building has a 4.28-year WALE and two long-standing medical tenants.

28 Tallowwood Street, Seven Hills

A private investor acquired a large format retail centre anchored by Viva Leisure for $6.89 million on a 5.74% yield.

Owner-Occupier

931 Kingsford Smith Drive, Eagle Farm

Tangalooma Island Resort bought the 1433 sqm office/retail building for $7.225 million, securing its long-term corporate base. The site has redevelopment potential and offers 43 car bays on a 2960 sqm block.

6 Paxton Street, Springwood

Australian Childcare Alliance purchased a 498 sqm vacant office building for $4 million. The strategic location and availability of on-site parking made it a compelling acquisition.

Office

38 Southgate Avenue, Cannon Hill

Natgen acquired a three-level office building in Southgate Corporate Park for $22 million. The acquisition forms part of its $31 million South-East Queensland investment program.

11/996 Anzac Avenue

A 68 sqm unit sold for $338,888.

7/710 Brunswick Street

A 63 sqm unit sold for $640,000.

6/4–6 Innovation Parkway

A 585 sqm office sold for $2.47 million.

General News

Renovation Crunch Looms Amid Labour Shortage

Queensland needs 18,500 more building workers to meet housing targets while preparing for 2032 Olympic infrastructure. Developers like Aniko Group are fast-tracking projects to beat the looming shortage. For commercial real estate, this means increased costs and delays for renovations, shopfitting, and tenant fit-outs. Landlords and tenants should act early to secure trades before pressure peaks from 2028 to 2032.

Developer Loses $6.1M Penthouse Court Case

Cav Gasworks Pty Ltd, led by Damien Cavallucci, must pay $6.1 million to a buyer after unlawfully terminating a 2017 contract under a sunset clause and reselling the properties for more than double. The ruling underscores the legal risk of sunset clause misuse in high-end residential developments.

Final Take

This week’s transactions highlight the strength of Queensland’s commercial market in sectors like healthcare, logistics, and value-add office assets. While investor appetite remains high, looming construction labour shortages linked to Olympic infrastructure projects are poised to challenge timelines and costs for refurbishments and new builds. Early planning and decisive action will be key for stakeholders in the months ahead.

References

• Herde, C. (2025, June 12). Hotels a hot property. The Courier-Mail, p. 65.

• Herde, C. (2025, June 18). Deal secures future. The Courier-Mail, p. 79.

• Herde, C. (2025, June 18). Owner-occupier demand. The Courier-Mail, p. 82.

• Herde, C. (2025, June 18). Fund tunes up its northern exposure in Lawnton deal. The Courier-Mail, p. 83.

• Bleby, M. (2025, June 13). In Queensland, another 18,500 building workers won’t be enough. Australian Financial Review.

• Carson, V. (2025, June 18). Luxury Brisbane developer stung $6m in penthouse legal stoush. The Courier-Mail.

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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Queensland is bracing for a construction labour shortage that could reshape the state’s property landscape. According to a recent report by the Australian Financial Review, the state will need nearly 18,500 additional workers to meet its national housing targets — a number that’s expected to rise as infrastructure ramps up ahead of the 2032 Brisbane Olympics.

A Tightening Market

The Charter Keck Cramer consultancy warns that Queensland is most at risk of missing housing targets due to this growing pressure. Between 2028 and 2032, the state will be deep into Olympic-related infrastructure projects, stretching an already thin supply of building workers and materials.

For example, Gold Coast developer Aniko Group has fast-tracked construction of its $2.5 billion Landmark project to avoid labour constraints. This is a clear signal: developers with large projects are moving early to dodge the worst of the crunch.

Commercial Property Implications

While the headlines focus on housing, the ripple effects will hit commercial real estate hard. Renovations, refurbishments, and shopfitting projects will face:

• Escalating costs as demand for skilled trades and materials rises.

• Delayed timelines with contractors prioritising larger, publicly funded projects.

• Scheduling challenges for both landlords and tenants.

Owners of office buildings, retail spaces, and warehouses could find it increasingly difficult to deliver on lease agreements involving fit-outs or upgrades. Meanwhile, tenants may need to plan for higher costs or longer wait times when tailoring spaces to their needs.

Competitive Pressure and Strategic Planning

With fewer skilled tradespeople available, speculative upgrades that typically attract high-quality tenants might slow. This could affect leasing activity and repositioning strategies for underperforming assets. However, those who move early — locking in contracts and trades now — may find themselves ahead of the curve.

The squeeze also raises the stakes for maintenance and compliance works. Delays in addressing building wear and tear or adapting to tenant requests could impact both occupancy and returns.

Final Word: A Shrinking Window

The construction labour shortfall is not just a residential issue. Commercial landlords and occupiers should brace for higher costs and slower project delivery. Acting now could mitigate future risks and offer a competitive edge.

The clock is ticking — and the trades are already being booked.

Reference
Bleby, M. (2025, June 13). In Queensland, another 18,500 building workers won’t be enough. The Australian Financial Review. https://www.afr.com/

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

Queensland Commercial Property Wrap – Week Ending 12 June 2025

Market Overview

Queensland’s commercial property market continues to demonstrate depth and diversity. Investor appetite remains strong across core sectors—hospitality, childcare, industrial, and retail—while owner-occupiers are driving demand in suburban and fringe office markets. The Gold Coast and inner Brisbane also remain hotspots for high-value development activity, with offshore capital flowing into luxury precincts and strategic redevelopment sites.

This Week’s Highlights

• Hospitality: $26m acquisition sees the former Quest South Brisbane reborn as Hotel Diana.

• Development: Luxury beachfront tower set for Main Beach after $55.68m site sale.

• Retail: Prestige Group secures flagship site in Brisbane’s luxury corridor.

• Industrial: Owner-occupiers remain active in fringe industrial locations.

• Childcare: Karana Downs centre snapped up sight unseen, showing strength of the asset class.

• Office: Owner-occupier office purchases dominate across Brisbane and the Sunshine Coast.

Hospitality

50 Water Street, South Brisbane

The Quest South Brisbane has been acquired for $26 million by Samdoo Corporation and rebranded as Hotel Diana. The property includes 62 serviced apartments and resort-style amenities and is set for refurbishment. Located near the Mater Hospital and Queen’s Wharf precinct, the asset is strategically positioned ahead of Brisbane’s 2032 Olympic Games.

Land & Development

3555 Main Beach Parade, Gold Coast

ODUS, backed by Metrics Credit Partners, purchased this $55.68 million beachfront site. The 21-storey ARI Main Beach project includes 31 luxury apartments and exclusive resident amenities. Construction is already underway, with completion due by early 2028.

Retail

201 Elizabeth Street, Brisbane CBD

Singapore-based Prestige Group purchased this mixed-use retail and office asset for $9 million, reflecting a 5% yield. Located in Brisbane’s luxury precinct opposite the Wintergarden, the two-storey building is near Cartier and Rolex boutiques. With short-term leases in place, the new owner is expected to reposition or occupy the property.

340 Wardell Street, Enoggera

A Guzman y Gomez drive-thru investment sold for $7.8 million, achieving a national record yield of 4.36%. The 25-year lease offers long-term security in a high-traffic location just 5.5km from Brisbane CBD.

Industrial & Warehouse

9–19 Bimbil Street, Albion

This $6.05 million flood-free industrial site includes three existing buildings and a total net lettable area of 1328 sqm. Located on a 2342 sqm site, the property is being refurbished for future leasing and longer-term redevelopment.

12/4–6 Tectonic Crescent

Two freestanding warehouses totaling 714 sqm sold for $2.629 million. The buyer was a local owner-occupier.

32/17 Bowen Bridge Road

An 81 sqm industrial unit changed hands for $315,000. The buyer was also an owner-occupier.

5/24 Finsbury Street

A 119 sqm office/warehouse was acquired for $708,000, showing continued demand for small-scale mixed-use assets.

Queensland Commercial Property Market Wrap – Week Ending 5 June 2025

Overview

Queensland’s commercial property market remains buoyant, driven by developer demand, scarce industrial land, and investor interest in regional and lifestyle assets. This week saw a major coastal site sale in Caloundra, strong movement in industrial land in Brendale, and regional retail investment in Townsville. Residential development and infill site acquisitions also show the ongoing push to meet housing and commercial needs in high-demand growth corridors.

Development

Caloundra, Sunshine Coast – Landmark Site Acquired for $19 Million

Gardner Vaughan Group has purchased a 5,289 sqm beachfront site at 1–9 Bulcock Street and 45–47 Bombala Terrace for $19 million. The property, approved for a mixed-use precinct including 104 residential apartments, a 125-bed hotel, and 2,976 sqm of commercial space, attracted 210 enquiries and seven offers.

Located in central Caloundra, the site offers panoramic ocean views, Pumicestone Passage, and the Glasshouse Mountains. The purchase adds to Gardner Vaughan’s growing Sunshine Coast portfolio, reinforcing strong demand for well-located, high-amenity projects in supply-constrained areas.

Industrial

Brendale – 5ha Industrial Site Sells for $23 Million

Taipan Corporation, linked to the Scifleet automotive group, acquired a 49,380 sqm raw industrial parcel at 181 South Pine Road, Brendale, for $23 million. Cushman & Wakefield brokered the deal, which reflects a $466/sqm land rate.

The site, previously owned by Chuan Xin Pty Ltd, last sold in 2023 for $18.7 million. Demand was intense, with 10 genuine offers received. Owner-occupiers are particularly active as supply of large sites in the northern corridor tightens.

Retail & Entertainment

Townsville – Entertainment Complex Changes Hands

A multi-tenant entertainment and retail site in Thuringowa Central has been sold off-market to an Australian family office. The property includes a cinema, bowling alley, and supporting retail outlets. Reading International, which acquired the site in 2015 for $33 million, divested the asset via JLL and RWC.

The deal reflects rising interest in high-yield regional assets, with private capital targeting well-positioned, experience-driven properties.

Residential – Mixed-Use Development

Taigum – Townhouse Site Secured for $13 Million

A 2.1ha infill site at 189–203 Beams Road, Taigum, has been acquired by a local developer for $13 million. The property came with existing approvals for a mixed-use precinct, though the buyer intends to develop townhouses exclusively.

The site, formerly home to Centrepoint Church and used as car parks, attracted nine strong bids. It offers 135m frontage to Beams Road and sits adjacent to Taigum Square shopping centre and transport links. The new residential focus aims to ease local housing pressure.

Retail Investment

Mackay – Bulky Goods Retail Asset Bought for $10 Million

Mackay Property Developments has acquired a 4,800 sqm large format retail centre at 181–195 Maggiolo Drive, Paget, for $10 million. Anchored by Truckline (Bapcor Group), Rexel, and Australia Post, the site is 78% occupied with 1,049 sqm of leasing upside.

The 8,533 sqm site offers a 6.3% yield. The buyer acted quickly, purchasing under private treaty with leasing interest already underway for the remaining vacancy.

Office

Fortitude Valley – Construction Firm Buys New HQ for $2.3 Million

Melrose Property has purchased a two-storey office building at 37 Baxter Street, Fortitude Valley, for $2.3 million. The building includes a leased ground-floor showroom and vacant upper-floor office space, which the buyer plans to convert into a new HQ.

Queensland Commercial Property Market Update – 30th May 2025

Regional Queensland Draws Families Fleeing Sydney and Melbourne

Retail

Harry Potter-Themed Cafe Sold in Samford Village

The Owlery, a popular Harry Potter-themed cafe in Samford Village, has been sold to an interstate investor for $1.95 million. The property attracted over 100 enquiries and multiple offers, selling on a 6.6% yield with a secure five-year lease. The sale reflects continued demand for well-tenanted retail assets under $2 million in Queensland.

Development

Gold Coast Ice Rink Site Set for $10.5m Redevelopment

The former Iceland ice rink site on Strathaird Road, Bundall, will undergo a $10.5 million transformation into a self-storage and warehouse complex. Developer John Potter plans two two-storey buildings with 21 warehouse units, including 10 self-storage spaces, and a three-bedroom caretaker’s unit. The project follows the closure of the iconic rink in January after nearly 30 years.

Failed South Brisbane Apartment Project Hits the Market

The stalled 35 Merivale project in South Brisbane, previously backed by Tallis Property Group, has been listed for sale by receivers FTI Consulting. The 1,820 sqm site is approved for a 30-storey residential tower with 184 apartments and ground-floor retail, with a four-level basement and podium car park already completed. The project, initially named Akin, was planned as a $180 million luxury tower but entered receivership in December 2023 after builder Descon Group collapsed. Colliers’ Brendan Hogan and Troy Linnane are running the expressions of interest campaign, closing July 9.

Office

Dymocks Selling Brisbane CBD Office Building

Dymocks Properties plans to sell George Street Chambers, a 13-storey, 6,285 sqm office building in Brisbane’s legal precinct. Bought for $42.1 million in 2019, the property is expected to fetch around $50 million. This sale is part of a broader wave of office repositioning across Brisbane.

Mapletree Lists $550m Australian Office Portfolio

Singapore’s Mapletree is offloading four office assets worth a combined $550 million, including 144 Montague Road in Brisbane. The assets, spread across Brisbane, Sydney, Melbourne, and Adelaide, were acquired between 2014 and 2017 and are expected to attract strong interest from both private and institutional buyers.

Industrial/Warehouse

Centuria Sells $60m in Queensland Warehouses, Olympics Demand a Key Driver

Centuria Capital has sold three southeast Queensland warehouses for a total of $60 million, capitalising on strong demand fuelled by the 2032 Olympics. Assets in Stapylton, Salisbury, and Heathwood were sold at significant premiums. The group continues to manage over $6.2 billion in industrial assets across Australia and New Zealand.

General News

Queensland Industrial Property Shifts as Taxes Deter Foreign Buyers

Higher property taxes in Queensland and Victoria are pushing offshore investors out of the industrial market, creating buying opportunities for locals. Funds like Richmond Bridge are raising capital to acquire discounted assets, capitalising on reduced foreign competition.

Energy Bills Set to Rise

Queenslanders on default electricity plans face price hikes of up to 3.7%, while NSW customers could see increases as high as 9.7%. Energy Minister Chris Bowen advises shopping around for better deals, as up to 27% savings may be possible.

Regional Queensland Draws Families Fleeing Sydney and Melbourne

Regional Queensland is booming, with 2.48 families arriving for every one leaving. Popular destinations include the Sunshine Coast, Wide Bay, and Cairns, where affordability and lifestyle attract families seeking space and a better quality of life.

Affordability is a key factor driving the shift. The average house price in regional Queensland sits around $550,000—up to 40% cheaper than Brisbane and significantly more affordable than Sydney, where median house prices hover around $1.3 million. Families are finding they can sell a Sydney home, downsize their mortgage, and upgrade to a larger property in regional Queensland, often with a backyard and space for the kids.

It’s not just price; lifestyle plays a huge role. Regional Queensland offers beaches, bushland, and a slower pace of life, while still providing access to jobs, schools, and healthcare. Remote working has made this move more realistic, allowing families to leave the congestion of the major cities behind without sacrificing career opportunities.

Research also shows that one in four families leaving Greater Brisbane are moving to regional Queensland, chasing affordability, space, and a better quality of life. The Sunshine Coast alone is seeing 3.28 families arriving for every one that leaves.

With continued infrastructure investment, population growth, and attractive entry points into the property market, regional Queensland is shaping up as the destination of choice for Australian families looking to build a new life away from the capital city squeeze.

This population growth is having a direct impact on the commercial property market. As more families settle in regional areas, demand for essential services is rising—fueling growth in retail, childcare centres, medical facilities, and neighbourhood shopping centres. Investors are increasingly targeting these assets, recognising the long-term rental security they offer in growing communities.

Industrial properties, such as logistics hubs and warehouses, are also benefiting as businesses expand to support growing populations and supply chain demands. New housing estates drive the need for building supplies, hardware stores, and tradie hubs, while hospitality venues like cafes, restaurants, and entertainment facilities follow the wave of new residents.

Brisbane 2032 Olympics: Delays and Construction Costs a Concern

Brisbane 2032 boss Andrew Liveris has raised concerns about surging construction costs, worker shortages, and industry constraints that could impact the delivery of major Olympic infrastructure. With projects like the $3.79 billion, 63,000-seat stadium at Victoria Park and a raft of other venues piling pressure on an already stretched building sector, Liveris says solving these issues is crucial for the Games and Queensland’s broader infrastructure pipeline.

Queensland’s new government has moved quickly, introducing planning laws to fast-track approvals and scrapping controversial industrial relations policies. Deputy Premier Jarrod Bleijie is pushing to streamline processes and address workforce gaps, including securing skilled migrant labour.

Despite past delays under the former Labor government, Liveris is optimistic, saying the new plan finally provides the certainty needed to move forward. However, concerns remain—particularly over a forecast shortfall of 30,000 hotel rooms by 2032, with high-rise accommodation projects urgently needed to ensure Brisbane is ready for the influx of visitors.

As the Games draw closer, the organising committee’s focus is shifting to deciding which sports will be featured, with netball and surf lifesaving in the mix. A final decision on the sporting disciplines is expected in 2026.

Overall, Queensland’s commercial property sector is well-placed to capitalise on ongoing population shifts, infrastructure investment, and sustained demand for quality assets across all major sectors. Looking ahead, a focus on regional growth, adaptive reuse, and market fundamentals will be key to maximising opportunities in this evolving landscape.

References

Herde, C. (2025, May 29). Cafe and more sold in a magical deal. The Courier-Mail, p. 54.

Potts, A. (2025, May 29). Warehouse overhaul. The Gold Coast Bulletin, p. 37.

Mapletree cashes in on office comeback. (2025, May 29). The Australian, p. 20.

Energy bills to rise by up to 9.7% as Australian regulators approve price increases. (2025, May 29). The Guardian Australia, p. 7.

Why Aussie families are fleeing Sydney, Melbourne. (2025, May 29). Sunshine Coast Daily, p. 27.

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

Queensland Commercial Property Market Wrap – 22 May 2025

Market Overview

Queensland’s commercial real estate market held firm this week, with activity across industrial, retail, and office sectors. Key deals included the off-market sale of the Deagon Travel Centre, the heritage-listed IGA in Maleny, and a record-breaking office transaction in Bundall. Brisbane’s office sector still leads the Asia-Pacific in rental growth, but the pace is slowing as new supply enters and tenant caution grows. Investor interest in major mixed-use developments like The Barracks remains high.

Office Market Update

Brisbane CBD Office Sector

Brisbane continues to top the APAC region for prime office rental growth, with gross face rents up 14.2% over the past year. But the pace has cooled—quarterly growth slowed to just 0.5%.

More tenants are choosing to stay put, deterred by rising fit-out costs and tighter capital. New supply is on the way: 205 North Quay and 360 Queen Street will add over 90,000 sqm, both already 87% pre-committed. Despite this, vacancy is expected to rise from 10.2% to 12% by year-end, before tightening again to 8.5% by mid-2028.

Leasing incentives remain high at 38.5%, while investment activity has picked up. Transaction volumes hit $1.1 billion in 2024, with both local and offshore buyers returning to the market.

Retail Investment

Deagon Travel Centre, Brisbane North

A high-net-worth buyer snapped up the Deagon Travel Centre for $11 million in an off-market transaction. Anchored by Hungry Jack’s, Pearl Energy, and a car wash, the 5,555 sqm site delivers a 6.23% initial yield and a 7.1-year WALE. Just 16 km from Brisbane’s CBD, the location benefits from strong arterial links and a catchment of more than 119,000 people.

IGA Portfolio in Regional Queensland

Three IGA-anchored properties changed hands for nearly $30 million:

• Seasons IGA, Maleny: A historic, 2,843 sqm freestanding supermarket sold for $11.25 million.

• IGA Childers: A 1,047 sqm site traded for $4.5 million.

• Garbutt Central, Townsville: A Cornetts-anchored centre sold for an undisclosed amount.

The campaigns drew over 1,000 enquiries, showing continued demand for securely leased supermarket assets.

Industrial Market

30 Bellrick Street, Acacia Ridge

Dexus and Blackstone sold this 3.5-hectare logistics site to Hale Capital Partners for $30.2 million—well above its 2024 book value of $25.7 million. The estate includes five warehouses, B-double access, rail connectivity, and significant hardstand.

25 Harris Road, Pinkenba

A Singaporean buyer acquired this 4,164 sqm TradeCoast site for $4.05 million. The block offers short-term holding income and long-term development potential, transacting at a tight 4.26% yield. The previous owner purchased the land for $3 million in 2022.

Flagstone Logistics Estate, North Maclean

Charter Hall landed two major pre-leases at its $900 million estate:

• • Bunnings: 40,200 sqm warehouse + 800 sqm office

  • Dats: 18,000 sqm warehouse + 550 sqm office (10-year lease)

Both facilities target 5-star Green Star ratings and are due for completion in FY26.

Regional & Mixed-Use Sales

515–593 Sturt Street, Townsville

A Sydney investor bought this 7,590 sqm automotive site for $11 million. Long-term tenant NQ Auto Group has committed through to 2029, with options through 2049. The property generates $774,785 in net income per year, offering a 7.04% yield. The site includes a modern 2,302 sqm service centre and showroom, with strong traffic exposure.

Corporate Centre One, Bundall

RF CorVal sold this 11,500 sqm office tower to the City of Gold Coast for $109 million, setting a record for Gold Coast office deals. Key tenants include Commonwealth Bank and KPMG. The council also owns the neighbouring Wyndham Building, bought in 2023.

The Barracks, Petrie Terrace

Growthpoint listed The Barracks for $160 million. The 1.09-hectare mixed-use precinct features over 10,000 sqm of A-grade office space and retail tenants like Coles and Palace Cinemas. Located near Brisbane’s major infrastructure upgrades—including Cross River Rail—the site is expected to draw strong local and offshore interest.

Market Outlook

Queensland’s commercial property market remains in good shape. Demand for industrial and retail assets is strong, while Brisbane’s office market stabilises after a record run. Investors continue to favour long leases, national tenants, and strategic locations.

With the 2032 Olympics on the horizon and major infrastructure upgrades underway, Queensland is well-positioned for sustained growth through 2025 and beyond.

Source

1) Knight Frank. (2025, April). Brisbane CBD Office Market – April 2025. Retrieved from https://content.knightfrank.com/research/332/documents/en/brisbane-cbd-office-market-april-2025-12124.pdf

2) CBRE. (2025, May 19). Retail convenience asset changes hands for $11 million in a pre-market transaction. Retrieved from https://www.cbre.com.au/press-releases/retail-convenience-asset-changes-hands-for-11-million-in-a-pre-market-transaction

3) Burgess Rawson. (2025, May 20). Car yard’s $11m appeal. Retrieved from https://www.burgessrawson.com.au/news-insights/car-yards-11m-appeal/

4) The Industrialist. (2025, April 26). Singapore investor acquires TradeCoast hardstand sold over $4 million. Retrieved from https://www.theindustrialist.com.au/2025/04/26/singapore-investor-acquires-tradecoast-hardstand-sold-over-4-million-rwc-gateway-and-m

5) Charter Hall. (2025, May 20). Charter Hall secures pre-commitments with Bunnings and Dats at Flagstone Logistics Estate – Brisbane. Retrieved from https://www.charterhall.com.au/News/news-article/2025/05/20/charter-hall-secures-pre-commitments-with-bunnings-and-dats-at-flagstone-logistics-estate–brisbane

6) RealEstateSource. (2025, May 19). Hale snaps up another Brisbane industrial estate. Retrieved from https://www.realestatesource.com.au/hale-snaps-up-another-brisbane-estate/

7) Green Street News. (2025, May 20). RF CorVal sells GC office for $109m. Retrieved from https://greenstreetnews.com/article/rf-corval-sells-gc-office-for-109m/

8) Courier Mail. (2025, May 19). Heritage-listed shopping centre on the market. Retrieved from https://www.couriermail.com.au/business/prime-site/growthpoint-has-put-the-barracks-mixeduse-precinct-on-the-edge-of-the-brisbane-cbd-on-the-market/news-story/8491ed5512170d6cbe05b3f23ef5d194

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

Market Overview: Strong Buyer Demand Across Brisbane and Key Growth Corridors

This week, Queensland’s commercial and mixed-use property market showed strong momentum, driven by record-setting management rights deals, high-demand industrial acquisitions, and fresh development activity across inner Brisbane. Key transactions signal deep investor confidence, especially in city-shaping projects like Queen’s Wharf and high-growth precincts like Brendale and Eagle Farm.

Management Rights Deal Sets New Record in Brisbane CBD

Queen’s Wharf Residences Management Rights Sold to Minor Hotels

Minor Hotels has secured the management and letting rights for Queen’s Wharf Residences in a record $85,000-per-key deal, setting a new benchmark for Brisbane. The 25-year agreement spans 667 apartments in the 65-storey tower. More than 200 apartments are already committed to the letting pool, valued at over $17 million. This deal gives Minor Hotels long-term control of serviced apartments in Queensland’s largest private construction project, which includes four hotels, a casino, and a pedestrian bridge linking to South Bank.

Brisbane Industrial Property Market Sees Multi-Million Dollar Sales

Brendale Industrial Site Sells for $23 Million – 181 South Pine Road

A 49,380 sqm industrial site was acquired for $23 million, reflecting a land rate of $466 per sqm. The property features dual street access and strong arterial connectivity, making it a strategic fit for operational expansion. The sale drew strong buyer interest, underlining demand for large-format industrial assets.

TradeCoast Industrial Site Sold for $10 Million – 340 Curtin Avenue West, Eagle Farm

An 8,240 sqm TradeCoast site sold for $10 million. It includes a 1,706 sqm warehouse leased to a major plant hire company, with a 4.5% yield and a 3.5-year weighted average lease expiry. The transaction highlights ongoing investor appetite for secure, income-producing assets in Brisbane’s core industrial zones.

Brendale Industrial Properties Sell for $33.3 Million – 165–179 South Pine Road

Two separate industrial sites changed hands for a combined $33.3 million. One was a 5,600 sqm A-grade facility acquired by a local owner-occupier. The other, a 30,800 sqm development site, was sold through a competitive campaign. These deals reflect a growing preference for owner-occupier control and confirm the strength of demand in Brisbane’s northside logistics corridor.

New Retail and Lifestyle Precinct Approved at Bulimba Barracks

Bulimba Barracks Redevelopment to Include Supermarket, Retail and Public Spaces

Brisbane City Council has approved Shayher Group’s plan to redevelop part of the former Bulimba Barracks. The WWII-era Fabrication Workshop will be converted into a boutique supermarket and retail hub as part of the precinct’s $1 billion transformation. The broader project will feature public gathering spaces, retail, and lifestyle offerings anchored by Harris Farm Markets. Due to its location under flight paths, the development will incorporate noise insulation measures.

Brisbane Commercial Property Market Outlook – Q2 2025

Brisbane’s commercial property market remains on a solid trajectory. Management rights, industrial assets, and mixed-use developments are all benefiting from strong buyer interest and limited supply. Major landmark projects like Queen’s Wharf are boosting international attention, while strategic suburbs such as Brendale and Eagle Farm continue to see elevated activity.

Looking ahead, infrastructure upgrades like Cross River Rail and population growth will support capital growth through 2025 and beyond. Precincts including Victoria Park, Bowen Hills, and Spring Hill are positioned for long-term uplift as Brisbane gears up for the 2032 Olympic Games. With interest rates holding steady and market sentiment improving, Queensland remains a compelling target for 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.

Liability Limited by a Scheme approved under Professional Standards Legislation