Market Overview

This week, Queensland’s commercial property market saw strong activity in suburban retail centres, industrial assets in strategic locations, and service centres. Notable sales included a bustling retail hub in Brisbane’s northern suburbs, a high-profile Officeworks site in Oxley, and a significant industrial asset in Eagle Farm. Meanwhile, a former media site on the Gold Coast is set for a major transformation.

Retail

Row 71, Stafford Heights

A local retail hub at 67-71 Wilgarning Street, Stafford Heights sold under the hammer for $4.213 million. The 613 sqm centre, fully leased across eight tenancies and two storage areas, occupies a substantial 1,821 sqm site. With a 5.55% yield, the sale attracted strong interest, receiving 360 enquiries and 61 bids.

82 Bennetts Road, Camp Hill

Another fully leased retail centre in Camp Hill changed hands for $6.1 million, reflecting a 5.72% yield. This property attracted both local and interstate investors, signalling strong demand for well-positioned suburban retail assets.

Office

Officeworks, Oxley

A syndicate of investors divested a freestanding Officeworks showroom located at 2247 Ipswich Road, Oxley, for $9.5 million. The 2,783 sqm site is leased to Officeworks under a renewed seven-year lease, providing a 5.38% yield. The asset’s strategic location, 10 km west of Brisbane’s CBD, made it a prime target for investors seeking long-term, stable income.

Industrial

340 Curtin Avenue West, Eagle Farm

A prominent industrial site at 340 Curtin Avenue West was secured for $10 million. The 8,240 sqm property includes a 1,706 sqm warehouse leased to Coates Hire, with a 4.5% yield and a 3.5-year WALE. The off-market deal underscores the ongoing investor demand for assets in the TradeCoast industrial precinct.

Former Gold Coast Bulletin Site, Molendinar

A former media site at 1 Newspaper Place, Molendinar, acquired in 2024 for $16.5 million, is set to be redeveloped into a state-of-the-art wine storage and self-storage facility. The 17,740 sqm site will feature a three-storey, 15,736 sqm temperature-controlled facility. Construction is expected to commence in the second half of 2025.

Service Centres

Oasis Service Centre, Slacks Creek

A private investor acquired the Oasis Service Centre at 3765 Pacific Highway, Slacks Creek, for $9.65 million. The 6,004 sqm site is anchored by BP Australia and includes eight tenancies, as well as a Zarraffa’s Coffee drive-thru. The asset, which achieved a 6.13% yield, also has approval for a car wash development, adding future value potential.

Sales Summary

• 521 Beams Road, Retail Unit: 145 sqm sold to an owner-occupier for $811,754

• 4-6 Tectonic Crescent, Industrial Warehouse: 713 sqm sold to a plumbing business for $2.52 million

• 7 Redcliffe Gardens Drive, Unit: 100 sqm sold to an investor for $450,000

• 198 Adelaide Street, Retail Unit: 26 sqm sold vacant for $175,000

• 1 Newspaper Place, Dalton Centre Office/Showroom: 244 sqm sold to an owner-occupier for $1.25 million

• 51 Playfield Street, Office Unit: 85 sqm sold to an owner-occupier for $625,000

Market Outlook

Investor interest in Queensland’s commercial assets remains strong, particularly for suburban retail centres and industrial assets in well-located precincts like TradeCoast and Eagle Farm. Assets with secure, long-term tenants—like the Officeworks site in Oxley—continue to attract significant interest from both local and international buyers.

Meanwhile, redevelopment sites such as the former Gold Coast Bulletin property in Molendinar are being strategically repurposed to meet the growing demand for storage and logistics facilities. With yields tightening and buyer interest remaining high, the market is expected to stay competitive in the coming months.

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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Investor activity across Queensland’s commercial real estate market remains strong. This week, big retail deals and strategic office sales in Brisbane took the spotlight. Core assets and value-add opportunities continue to attract both local and international buyers. Meanwhile, demand for industrial and neighbourhood retail properties in regional areas remains steady, with yields tightening further.

This Week’s Highlights

Retail: Coolangatta’s The Strand sells for $142 million. Pines Point and Logan Village Marketplace also notch up strong results.

Office: Big-name assets hit the market, including 333 Coronation Drive and 63 George Street. RAM lists Bowen Hills complex after leasing boost.

Development: Turrisi Properties picks up a rare infill site in Eight Mile Plains for a new 26-lot subdivision.

Industrial: Quanta Investment Funds adds two regional logistics sites to its portfolio for $20.75 million.

Auctions: Burgess Rawson clears over $25 million in sales, driven by sharp yields and competitive bidding.

Retail

The Strand, Coolangatta

The Strand, a 30,000 sqm beachfront retail and lifestyle centre, has been picked up by Sydney-based Alceon and Aktiv for $142 million. Anchored by Woolworths and featuring Timezone, Cinebar, and waterfront dining, the property was sold on an 8% initial yield, with a 9% fully leased yield. There’s room for growth via refurbishment and population increases in the area.

Pines Point Shopping Centre, Pacific Pines

A Victorian investor has bought this fully leased, 858 sqm neighbourhood retail centre for $8.1 million. Tenants include Domino’s and Coronis Real Estate, bringing in $536,000 in annual net income. The site’s mixed-use zoning adds long-term development potential.

Logan Village Marketplace

This Woolworths-anchored centre has sold to a Sydney buyer for $16.3 million, reflecting a 5.07% yield. The 3,241 sqm site features a 20-year lease to Woolworths, along with a medical centre, pharmacy, and newsagency. It drew over 130 enquiries and 11 formal offers.

Office

333 Coronation Drive, Milton

Keppel Capital is relaunching the sale of the John Oxley Centre, a riverfront office building with 12,980 sqm of space across five storeys. It’s 93% leased after recent refurbishments and offers redevelopment upside. Bids close 5 June.

63 George Street, Brisbane CBD

QIC’s 10-storey, 10,586 sqm B-grade office building is now on the market. With government tenants and a prime spot opposite the Queen’s Wharf project, the property offers holding income and future development potential. Expressions of interest close 29 May.

56 Edmondstone Road, Bowen Hills

Real Asset Management is selling its three-building complex after boosting occupancy from 20% to 94%. Bought in 2021 for $70.9 million, it now houses tenants like Fujifilm and Powerlink. Campaign closes 29 May.

Development

77 Gaskell Street, Eight Mile Plains

Turrisi Properties has secured a 1.21ha residential infill site for $11 million, approved for 26 lots. Initially listed in 2022, the site sold for a record $909/sqm. Civil works are scheduled to begin in the second half of 2025.

Industrial

2-10 Titanium Drive, Mackay

Quanta Investment Funds has acquired this 5,420 sqm cold storage logistics facility as part of its regional push. Located in Mackay’s key industrial area, the deal was fully subscribed within 30 minutes of launch.

646-658 Ingham Road, Townsville

Quanta also picked up this 32,000 sqm industrial site in Townsville. With low site coverage and long-term leases to ASX-listed tenants, it was fully subscribed within 72 hours and offers future development upside.

Auctions & Portfolio Sales

Burgess Rawson’s latest auction event delivered over $25 million in Queensland property sales. Key results included:

Allied Health Clinic, Carina – $2.25 million (3.62% yield)

Pets Domain, Roma – $1.475 million

Midas & Chery Dealership – $2.9 million

PFD Foods, Geebung – $7.52 million (4.82% yield)

Strong competition and renewed borrower confidence suggest investors are anticipating further rate cuts.

Wrap up

Queensland’s commercial property market is showing clear momentum. Investors are chasing high-quality assets across all sectors, from beachfront retail to government-leased offices and strategic industrial holdings. With confidence returning and interest holding strong, the market looks poised for continued activity through the rest of the year.

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’s commercial property market continues to show resilience, even as national retail faces pressure. Investor demand remains strong across industrial, retail, and hotel sectors, supported by secure leases, redevelopment potential, and strong location fundamentals. Development momentum is building too, particularly in the logistics-heavy western corridor.

This Week’s Highlights

Retail

• Logan Village Marketplace sells for $16.3 million

• United Service Centre, Slacks Creek goes for $5.61 million

Office/Industrial

• Kedron mixed-use site acquired for $2.8 million

• Europcar relocates to Geebung showroom

Hotels & Leisure

• KS Hotels buys Surfers Paradise Vibe Hotel and Pavilion for over $60 million

General News

• Wittner enters administration

Development

• Timeless Property secures Redbank industrial land deal

Retail

Logan Village Marketplace, Logan Village, QLD

Clarence Property has sold Logan Village Marketplace, anchored by Woolworths, to a Sydney investor for $16.3 million. The 3,241 sqm centre includes a 2,794 sqm supermarket on a 20-year lease, plus a mix of convenience, health, and food tenants. The deal settled on a 5.07% yield.

200 Kingston Road, Slacks Creek, QLD

The United Service Centre at Slacks Creek, developed by Churchill Group, sold under the hammer for $5.61 million to a Singaporean buyer. Anchored by a 12-year lease, it includes a 300 sqm store, eight fuel pumps, and Pie Face café. The sale was at a 5.2% yield.

Office & Industrial

69 Bristol Road, Kedron, QLD

A 742 sqm mixed-use site was bought by Melissa and Wade Woodcroft for $2.8 million. It will house their construction and design companies after an industrial-style renovation. The property includes warehouse, office and showroom space, plus parking for eight vehicles.

199 Robinson Road, Geebung, QLD

Europcar has signed a four-year lease for a 1,130 sqm showroom/warehouse, relocating from Eagle Farm. The $165,000 annual lease provides strong exposure and signage potential on a major arterial road. The site will support their car rental operations across Brisbane’s north.

Hotels & Leisure

Vibe Hotel & Pavilion, Surfers Paradise, QLD

Thailand’s KS Hotels has bought the Vibe Hotel and Surfers Pavilion site for over $60 million. The 4,700 sqm site includes 199 rooms, a marina, and 35 gaming machines. JLL brokered the deal, which signals continued international confidence in the Gold Coast’s hotel market.

Development

Montgomery Street, Redbank Motorway Estate, QLD

Timeless Property has acquired two industrial lots in Goodman’s Redbank Motorway Estate, totalling 3.35 ha. While the price wasn’t disclosed, land in the area generally sells above $600/sqm. CBRE noted strong demand thanks to motorway access and nearby deals with Coles and L’Oréal.

General News

Wittner Enters Administration

Footwear retailer Wittner has gone into voluntary administration. Deloitte is overseeing the process as the 110-year-old brand explores recapitalisation or sale. The move highlights growing strain in fashion retail, with cost pressures and changing consumer habits taking a toll.

Sum up

Queensland’s commercial property sector remains broad and resilient. Industrial areas like Kedron and Redbank are drawing interest from developers and owner-occupiers, while hospitality assets continue to attract offshore capital. Even as fashion retail stumbles, buyers still favour convenience-led, long-leased assets, reinforcing market confidence in the state’s outlook.

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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Confidence in Queensland’s commercial property market remains high, with strong demand across all key sectors — retail, office, industrial, and hospitality. Yields are holding firm, and quality assets are attracting both local and interstate buyers. This week’s wrap features major sales, fresh leasing activity, and insights into the next phase of Australia’s hotel sector.

This Week’s Highlights

• Retail: Kedron mixed-use complex changes hands for $20.7 million; new Portside Wharf buyer confirmed.

• Industrial: Quanta Investment Funds expands with Mackay cold storage deal; more activity in Kedron and Townsville.

• Hotel & Leisure: Sunnybank budget hotel sells well above valuation; Redcape adds more Sunshine Coast pubs.

• Development & Infrastructure: Redevelopment of the Glass House Mountains service centre gets underway.

Retail

255–257 Gympie Road, Kedron

A mixed-use complex in Brisbane’s northern suburb of Kedron has been sold for $20.7 million to a private investor, delivering an 8% yield. The property includes retail, commercial, and childcare facilities across four freestanding buildings, totalling 4,578 sqm on a sizable 8,909 sqm land parcel. It brings in $1.8 million in annual rent and is fully leased to seven tenants, with scope for future development thanks to its Mixed Use zoning and strategic location just 6.5 km from the CBD.

Industrial

2–10 Titanium Drive, Paget (near Mackay)

Quanta Investment Funds has picked up a cold storage facility in Paget, just outside Mackay, for $10.56 million. The asset will seed Quanta’s new Titanium Drive Logistics Trust, which is targeting an 8.6% return. The 3,717 sqm facility is leased to Woolworths subsidiary PFD Food Services and includes freezer, chiller, and temperature-controlled rooms, plus dry storage and admin space, all on a 5,420 sqm block.

69 Bristol Road, Kedron

Melissa and Wade Woodcroft have bought a mixed-use building in Kedron for $2.8 million. The 810 sqm site includes office, showroom, and warehouse space, and is zoned for low impact industrial use. The couple plans to convert the property into a New York loft-inspired space for their own construction and design businesses.

646–658 Ingham Road, Mount Louisa (Townsville)

Quanta has also added a warehouse in Mount Louisa to its portfolio, purchasing the 8,217 sqm property for $10.6 million. Tenants include AMA Group, Shamrock Civil, and Carroll Engineering Services. With just 26% site coverage, there’s plenty of room for future expansion or development.

Office

179 Given Terrace, Paddington

Sari Property Investments has secured a fully leased office/retail building in Brisbane’s inner-west for $4.25 million. Located on a high-profile corner block in Paddington, the two-storey, 575 sqm building sits on 817 sqm and is leased to four long-term tenants including Ray White Paddington and Stowe Electrical. The deal achieved a 4.82% yield and a strong building rate of $7,391/sqm.

Hotels & Leisure

223 Padstow Road, Eight Mile Plains

The Sunnybank Star Hotel has changed hands for just over $15.2 million — about $6 million above the bank’s valuation. The buyer, a Brisbane-based Chinese Australian investor, plans to continue operating the 60-room hotel, which generated $1.1 million in revenue last financial year. The site covers 8,200 sqm and may be considered for redevelopment in the future.

Sunshine Coast Pub Portfolio

Redcape Hotel Group continues its buying spree with the $80 million acquisition of the Maeva Hospitality portfolio. The deal includes four large-format pubs — Bli Bli Hotel, Baringa Tavern, Parklands Tavern, and Brightwater Hotel — along with nine bottle shops. These venues generate over $63 million in combined turnover and have a weighted average lease expiry (WALE) of more than 45 years.

Development

Glass House Mountains, Sunshine Coast

Construction has kicked off on the $24 million redevelopment of the northbound Glass House Mountains service centre. The project, a joint venture between Dexus Convenience Retail REIT and Deluca Corporation, will deliver a modern travel stop featuring a Shell service station, On The Run (OTR) convenience retail, expanded EV charging stations, and fast food outlets like McDonald’s, Hungry Jack’s, and Guzman y Gomez. The development is fully pre-leased with an average lease term of 18 years and is due for completion by year-end. Redevelopment of the southbound site is scheduled to start in 2026.

Hotel Market Insights

According to JLL, Australia’s hotel supply boom is winding down. Since 2020, more than 14,000 rooms have been added across eight capital city markets, but high construction costs and tough financing conditions are making new developments harder to justify.

JLL expects a shift toward upgrading older hotels instead of building new ones. Brisbane and the Gold Coast added over 1,000 rooms each during this cycle and will likely focus on refurbishments going forward.

While new luxury brands like W, Ritz-Carlton, and Capella have helped lift room rates and drive revenue growth across the sector, older or lower-quality hotels are facing demand pressure. Owners are now turning to renovations and conversions to stay competitive in a changing market.

Sum up

Queensland’s commercial real estate market continues to show strength, with activity across every major sector. Investors are chasing long-term value, whether through high-yielding assets, redevelopment opportunities, or fund launches. Industrial and hotel assets remain in the spotlight, and the state’s ongoing infrastructure upgrades and urban growth make it one to watch.

Reference

JLL. (2025). Australian Hotel Investment Review and Outlook 2025. Jones Lang LaSalle. https://www.jll.com.au/en/trends-and-insights/research/australian-hotel-investment-review-and-outlook-2025

Green Street News. (2025, April). Quanta buys cold storage facility near Mackay; Kedron retail asset sold; Sunnybank Star Hotel trades above valuation [Property market coverage]. https://greenstreetnews.com/australia

Quanta Investment Funds. (2025). Quanta Investment Funds acquires cold storage facility to seed Titanium Drive Logistics Trust. https://quantainvest.com.au/quanta-investment-funds-6-6-million-acquisition-in-mackay

Dexus Convenience Retail REIT. (2025). Glass House Mountains service centre redevelopment announcement. https://www.dexus.com/investor-centre/listed-funds/dexus-convenience-retail-reit

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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Overview

Queensland’s commercial property market kept up its strong pace this week, with a variety of deals across retail, office, industrial, and hotel sectors. Investor demand is holding steady in Brisbane’s growth corridors, while regional markets like Townsville and the Gold Coast continue to attract solid interest. This week’s activity ranges from major retail centre sales and long-term leases to industrial expansions and landmark hotel acquisitions — all signs of a confident, evolving market.

Key Highlights

• Retail: Portside Wharf sells for $59.4 million; Brendale retail centre changes hands for $13.225 million.

• Office: North Lakes gym building sold; Carindale lease marks major office consolidation.

• Industrial: United Rentals signs big lease at Brisbane Airport; new sites snapped up in Kedron and Townsville.

• Hotel & Leisure: Vibe Hotel Gold Coast fetches over $60 million; Redcape buys four pubs on the Sunshine Coast.

Retail

170 Kremzow Road, Brendale

A fully leased large-format retail centre in Brendale has sold for $13.225 million to a NSW-based family. Built in 2021, the 3,455 sqm property sits on a prominent 7,370 sqm site with 87 car parks. National tenants include Autobarn, Silly Solly’s, Pets Domain, and The Salvation Army. It sold on a 6.14% yield, at a building rate of $3,827 per sqm. Located 25 km north of Brisbane, the property benefits from its proximity to the rapidly growing Caboolture West development zone.

Portside Wharf, Hamilton

Centennial has picked up the Portside Wharf retail precinct from Brookfield for $59.4 million. The waterfront site includes 68 tenancies across 13,731 sqm, nearly 400 car spaces, and a “wet lease.” It’s currently 83% leased, delivering $4.2 million in net rent — a 7.1% yield that could rise to 11.4% once fully occupied.

438 Wickham Street, Fortitude Valley

Furniture and homewares brand MCM House is opening its new Queensland flagship showroom in Fortitude Valley. It’s leasing a 716 sqm space (including 100 sqm of storage) on a busy corner site near the train station. The rent is around $200 per sqm gross.

Office

44 Flinders Parade, North Lakes

A private investor has purchased the World Gym North Lakes building for $8.16 million. The 2,411 sqm property sits on 4,591 sqm of land, includes 121 car spaces, and has 50 metres of frontage. It’s leased on a secure 10-year term, generating $502,925 in net annual income — roughly a 6.2% yield.

2 Millennium Boulevard, Carindale

4Front Accountants has leased the entire top floor (1,262 sqm) of the Millennium Centre in Carindale on a five-year term. The lease, valued at $512,000 gross per year, includes 14 car spaces. The firm is consolidating operations from several offices and will move in this month.

Industrial

Brisbane Airport

United Rentals has locked in a 15-year lease at Brisbane Airport’s industrial precinct. The 3.7-hectare site will house a 14,000 sqm container yard, a 6,835 sqm workshop, and 600 sqm of offices. It’ll be their largest greenfield site in Australia and is expected to be up and running by Q3 2025.

344 Fison Avenue East, Eagle Farm

The Potter Group has bought this 3,710 sqm site for $5.6 million and plans to redevelop it into a high-end industrial strata complex. Located in the tight-supply TradeCoast area, it was the only industrial site with vacant possession available at the time.

69 Bristol Road, Kedron

Melissa and Wade Woodcroft have purchased a mixed-use property in Kedron for $2.8 million. Sitting on 810 sqm, the space includes office, showroom, and warehouse areas. It’s zoned for low impact industry, and the couple plans to give it a New York loft-style makeover for their own businesses.

646–658 Ingham Road, Mount Louisa (Townsville)

Quanta Investment Funds has bought an 8,217 sqm warehouse for $10.6 million via its Ingham Road Industrial Trust. The site is about 8 km west of Townsville’s CBD and is leased to AMA Group, Shamrock Civil, and Carroll Engineering Services. With only 26% site coverage, there’s also room for further development.

Hotel & Leisure

42 Ferny Avenue, Surfers Paradise

The Vibe Hotel Gold Coast has been sold by Malaysian billionaire Robert Kuok to KS Hotels for just over $60 million — around 20% above the asking price. The deal includes the 199-room hotel, Surfers Pavilion, and a marina with 90 metres of river frontage. It adds to KS Hotels’ luxury portfolio in Thailand and Australia.

Sunshine Coast Pub Portfolio

Redcape Hotel Group has snapped up four Sunshine Coast pubs from Maeva Hospitality in a deal worth about $80 million. The package includes Bli Bli Hotel, Baringa Tavern, Parklands Tavern, and Brightwater Hotel, plus nine bottle shops. With over $63 million in annual turnover and 58 gaming machines, the portfolio boasts a weighted average lease expiry (WALE) of over 45 years.

Final Take

This week’s deals show that Queensland’s commercial property market remains in solid shape. Big-ticket retail and hotel assets are moving, long-term leases are being locked in, and developers are still hunting for value-add opportunities. Whether it’s the city or the regions, investors are backing Queensland’s growth story — and for now, momentum is clearly on their side.

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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What’s Happening in the Market?

Confidence is holding strong across Queensland’s commercial property market this week. Brisbane’s inner suburbs and CBD are buzzing, particularly in the office sector where both premium leases and strata office sales are in demand. Retail and industrial continue to perform well, with major transactions in both metro and regional locations

Quick Highlights

• Office: Premium tenants lock in new builds; strata office spaces continue to attract buyers in the CBD.

• Retail: Bracken Ridge Plaza changes hands in a deal close to $40 million.

• Industrial: Strong investor activity and redevelopment plans in Eagle Farm, Cairns, and Rockhampton.

• Mixed-Use: A Kedron site picked up for a growing family business HQ.

Office Deals Making Waves

97 Creek Street, Brisbane

Two strata office spaces at Solace Financial House sold for a combined $1.62 million. One went to Cavalry Consulting, the other to a local fit-out business relocating from George Street. It’s yet another sign that demand for strata offices in Brisbane’s CBD isn’t slowing down.

85 George Street, Brisbane

Stadia Capital has now taken full ownership of the 17-storey Capital Hill building after buying out Charter Hall’s 50% share. The tower is fully leased to the Queensland Government and sits in a prime location near Queen’s Wharf.

360 Queen Street, Brisbane

HWL Ebsworth Lawyers has committed to 4,777 sqm in the soon-to-be-completed premium tower at 360 Queen Street. With a 10-year lease in hand, they’ll join a line-up of big names attracted to this next-gen, eco-conscious development in the heart of Brisbane’s “Golden Triangle”.

Retail Remains Rock Solid

Bracken Ridge Plaza

A private buyer has snapped up Bracken Ridge Plaza for $39.3 million. Anchored by a Coles and home to 25 specialty stores, the centre pulled a passing yield of 5.51%. It’s another sign that investors are keen on neighbourhood retail with reliable foot traffic and stable income.

Industrial Property Stays Hot

Eagle Farm

Potter Group has picked up a 3,710 sqm site in the TradeCoast area for $5.6 million. They’re planning to turn it into a high-quality industrial strata complex aimed at owner-occupiers and SMEs.

Cairns & Rockhampton

Two Civilmart-leased industrial assets were snapped up for $12 million by a Queensland investor. The quick 14-day settlement says a lot about current appetite for secure, leased industrial properties.

Mixed-Use Moves

Kedron

Local couple Melissa and Wade Woodcroft bought a mixed-use site at 69 Bristol Road for $2.8 million. They’re moving their three businesses there—Emwinn Constructions, Ivy Rose Interior Design, and Concepts Unlimited Design—after giving the space a full makeover. Expect New York loft vibes incoming.

Wrapping Up

It’s been a strong week across Queensland’s commercial property scene. Office demand in Brisbane is leading the charge, with strata and premium-grade spaces in the spotlight. Industrial continues to be competitive, retail is holding firm. All signs point to growing confidence and a healthy appetite for well-located, income-generating assets.

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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Table of Contents:[hide]

• Executive Summary
• Introduction
• Positive Impacts on Commercial Property
• 1. Stronger Demand for Commercial Spaces
• 2. Infrastructure That Connects the City
• 3. Rising Property Values
• 4. New Business and Investment Opportunities
• Negative Impacts on Commercial Property
• 1. Rent Hikes Could Push Tenants Out
• 2. Tenant Displacement from Redevelopment
• 3. The Risk of Oversupply
• 4. Construction-Related Disruption
• Lessons from Past Olympic Cities
• Final Thoughts and Recommendations

Executive Summary

The confirmation of venues for the Brisbane 2032 Olympics is set to bring major changes to the city’s commercial property market. On the upside, demand is expected to rise across retail, hospitality, and office spaces, backed by a wave of new infrastructure that will improve access to key commercial zones (NBC News, 2025). Property values are also likely to increase, creating opportunities for both investors and business owners (RealEstate.com.au, 2025).

However, it’s not all upside. Rents could spike, pushing out current tenants who can’t keep up. Some businesses may also be displaced due to new developments, and there’s the risk of a post-Olympics oversupply — especially in the hospitality sector — once the crowds leave (Savills, 2025).

For landlords and tenants alike, the key will be planning ahead. Being strategic now can help maximise the benefits while reducing the risks that come with such a large-scale event.

Introduction

With the venue plan for the 2032 Olympic and Paralympic Games now finalised, Brisbane has reached a major milestone. This moment caps off nearly four years of work since the city was awarded the Games, and signals the start of intense preparations (AP News, 2025).

“…the government announced that a new stadium will be built at Victoria Park, in Brisbane’s inner north” (Vonderen 2025)

For commercial landlords, tenants, investors and developers, the implications are huge. The Australian Olympic Committee has welcomed the clarity this announcement brings, while also acknowledging the scale and complexity of the infrastructure program that lies ahead (Australian Olympic Committee, 2025).

What happens next will shape Brisbane’s commercial property landscape for years to come. This report looks at both the opportunities and the challenges ahead — drawing from past Olympic host cities to offer practical insight.

Positive Impacts on Commercial Property

1. Stronger Demand for Commercial Spaces

The Olympics are expected to bring a wave of economic activity to Brisbane. As tourism booms and spending surges, demand for retail, hospitality, and office space will follow (Wardle Partners, 2025).

Retailers, especially those selling souvenirs or essential goods, can expect a surge in foot traffic (Ray White New Farm, 2025). Restaurants, hotels, and entertainment venues will also be in high demand to serve athletes, tourists, and staff (Torrens University, 2025).

Office demand is set to rise too, driven by the logistical needs of hosting the Games and the expected arrival of new businesses wanting a slice of Brisbane’s growing global presence (CBRE Australia, 2025). With millions in investment and job growth on the horizon, office space absorption could remain strong throughout the decade (Savills, 2025).

2. Infrastructure That Connects the City

Massive upgrades are coming to transport, including Brisbane Metro, Cross River Rail, and improved airport connections (Your Neighbourhood, 2025). These projects are designed to make it easier to move around the city — not just for the Games, but long after they’re over (InDaily Queensland, 2025).

Commercial properties near new or upgraded transport links and Olympic venues — like the Brisbane Stadium, National Aquatic Centre, or Brisbane Arena — are expected to benefit from increased traffic and visibility (ArchitectureAU, 2025).

And with athlete villages planned for Bowen Hills, the Gold Coast, and the Sunshine Coast, we can expect pop-up demand for shops, cafes, and essential services in those areas (Paddle Australia, 2025).

3. Rising Property Values

History shows that host cities often see their property markets soar. Brisbane is tipped to follow that trend, especially in suburbs like Herston, Kelvin Grove, Spring Hill, Bowen Hills, and Woolloongabba (Mortgage Choice, 2025).

Even rents are likely to climb. Office space in areas like the CBD’s North Quarter and Inner South may become pricier as more businesses move in to capitalise on Olympic exposure (Colliers, 2025).

4. New Business and Investment Opportunities

With billions flowing into infrastructure and global attention on the city, Brisbane is in a unique position to attract both local and international investment (API Magazine, 2025). The Queensland Government is also encouraging public-private partnerships, opening more doors for private investors (NBC News, 2025).

Negative Impacts on Commercial Property

1. Rent Hikes Could Push Tenants Out

While landlords might see rising rents as a win, it can be a serious problem for small businesses. If prices jump too high, some tenants could be forced out, especially those with leases nearing expiration or tight budgets (Green Street News, 2025).

There’s also concern about opportunistic rent gouging during the Games. That short-term gain could damage long-term relationships and reputation (Search Party Property, 2025).

2. Tenant Displacement from Redevelopment

With major projects like the Gabba redevelopment moving forward, existing tenants may find themselves in the way of progress (Space Property, 2025). Some landlords might even opt for short-term, high-paying leases targeting Olympic visitors, rather than renewing with long-term tenants (No Boston 2024, 2025).

3. The Risk of Oversupply

Once the Games wrap up, the city could face an oversupply — particularly in hospitality. Temporary operators will likely exit, and the glut of newly built hotels or eateries might outlast the demand (Savills, 2025).

4. Construction-Related Disruption

Before the Olympic buzz kicks in, Brisbane will have to endure years of construction. That means noise, traffic changes, and disruptions to customer access — all of which can hurt nearby businesses, especially in retail and hospitality (NBC News, 2025).

Lessons from Past Olympic Cities

Cities like Barcelona (1992), Sydney (2000), and London (2012) used the Games to boost urban renewal and long-term property values (ResearchGate, 2025). Atlanta turned its Olympic investments into lasting attractions, like Centennial Park (SDNews.com, 2025).

But not every host city has fared well. Athens (2004) was left with abandoned venues. Rio (2016) saw property values drop. In some cases, entire communities were displaced — as in Beijing (2008) and Sochi (2014) (The McGill Daily, 2025).

Final Thoughts and Recommendations

Landlords: Think long-term. Short-term Olympic gains are tempting, but stable tenants and well-maintained properties will win out in the end. Consider mixed-use development and stay in the loop with city planning (Domain, 2025).

Tenants: Get ahead of the curve. Review your lease. Lock in terms if you can. Prepare for disruption and explore Olympic-related business opportunities. Talk with landlords and industry groups to stay informed (NewsCop, 2025).

The Brisbane 2032 Olympics will be a turning point. With smart strategy and forward thinking, the commercial property sector can make the most of it — and keep winning long after the closing ceremony.

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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Introduction

This week’s Queensland commercial property market saw major transactions across office, industrial, retail, development, and hospitality sectors. Notable deals include the Queensland Government’s acquisition of a 2.5-hectare development site in Manly West and the sale of an A-grade office building in Strathpine for $55.5 million. The industrial sector continues to see strong demand, with a major logistics estate in Coopers Plains changing hands for approximately $89 million. Meanwhile, Townsville’s CBD is set for a new boutique hotel development in a heritage-listed building, further enhancing the city’s appeal.

Summary of Transactions

• Office sector: Significant deals included the $55.5 million sale of Super Retail Group’s headquarters in Strathpine and the $46.4 million sale of a major office building in Milton.
• Industrial sector: Blackstone expanded its logistics portfolio with the acquisition of Arcadia Industrial Estate in Coopers Plains for $89 million, while two industrial sites in Brendale sold for a combined $33.3 million.
• Retail sector: Richlands Marketplace, a neighbourhood shopping centre, was sold for $17.2 million at a 6.25% yield.
• Development site: The Queensland Government acquired the Silky Oaks site in Manly West, with future redevelopment plans likely.
• Hotels & Leisure: A heritage-listed property in Townsville is set to be transformed into a 30-room boutique hotel.

Office

6 Coulthards Avenue, Strathpine, QLD

Sydney-based investment company Sandran Property Group has purchased this A-grade office building for $55.5 million. The 2.85-hectare property, which serves as the headquarters for Super Retail Group, includes 7,272 sqm of lettable space, 611 car bays, and 6,184 sqm of developable land. Super Retail Group remains on a long-term lease with 10 years remaining.

33 Park Road, Milton, QLD

Dexus has finalised the sale of this 7,200 sqm office building for $46.4 million. The asset comprises 5,800 sqm of office space and 1,500 sqm of retail, with 186 parking spaces. The property is 98% occupied, generating a secure annual income of $4.1 million. The sale reflects an 8.8% yield.

Industrial

Arcadia Industrial Estate, Boundary Road, Coopers Plains, QLD

Blackstone has acquired this 40,000 sqm logistics estate for approximately $89 million. The strategic site offers direct access to Brisbane’s arterial roads and rail yards, making it a prime location for last-mile logistics operations.

165-179 South Pine Road, Brendale, QLD

Two industrial properties in Brendale have been sold for a combined $33.3 million. Lot 1, a 5,600 sqm A-grade industrial facility, was acquired in an off-market deal by a local owner-occupier. Lot 2, a 30,800 sqm development site with 300m of street frontage, was sold via an expressions-of-interest campaign.

Retail

Richlands Marketplace, Richlands, QLD

A Sydney-based investor has acquired this neighbourhood shopping centre for $17.2 million, reflecting a 6.25% yield. The 1,679 sqm property is anchored by tenants such as KFC, Hoppy’s Carwash, and Richlands Country Markets. Located 19km south of Brisbane’s CBD, the asset achieved the highest price per square metre for a neighbourhood centre in Queensland since October 2023.

Development

218 Manly Road, Manly West, QLD

The Queensland Government has acquired a 2.5-hectare site for an estimated $25 million. The property, previously owned and occupied by Silky Oaks Children’s Haven for 79 years, was sold after a competitive expressions-of-interest campaign. The site, which currently houses an early learning centre, an op-shop, and a medical facility, is expected to be redeveloped by the state.

Hotels & Leisure

337-343 Flinders Street, Townsville, QLD

A heritage-listed building in Townsville’s CBD is set to be transformed into a 30-room boutique hotel by 4810 Property. The City of Townsville has approved the redevelopment of the former Westpac bank site, which spans 1,000 sqm. The property will include a rooftop entertainment venue and a high-quality food and beverage offering. The development aligns with recent revitalisation efforts in Townsville’s city centre, including the $55 million Castlerock office project and a $32 million Telstra facility upgrade.

Summary

This week’s transactions highlight ongoing demand for well-located commercial assets across Queensland. The office market saw significant movement with large-scale sales in Strathpine and Milton, while the industrial sector remains strong with Blackstone’s continued expansion. Retail centres continue to attract investor interest, and Townsville’s CBD is set for an exciting new boutique hotel. These trends suggest growing confidence in Queensland’s commercial property market, particularly in key suburban and logistics hubs

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 Queensland commercial property market saw strong activity across multiple sectors, with significant transactions in the office, industrial, retail, and hospitality segments. A highlight was the $46.5 million sale of a large industrial landholding in Rocklea, reinforcing ongoing demand for well-located assets with redevelopment potential. The hospitality sector also saw major movement with the acquisition of Flagstone Tavern under a long-term leasehold arrangement. Meanwhile, office and retail assets continued to attract investor interest, particularly in Brisbane’s inner suburbs.

Office

36 Park Road, Milton, QLD

A boutique commercial real estate agency has acquired a two-level office building for $3.975 million. The new owner plans to relocate from Woolloongabba and refurbish the property, leasing out additional tenancies. The location will benefit from the area’s ongoing development, including new residential high-rise projects.

179 Given Terrace, Paddington, QLD

A 575 sqm commercial building has been purchased for $4.25 million, reflecting a 4.82% yield. The property is fully leased to four tenants, including an electrical company, a physiotherapy clinic, a tutoring business, and a real estate agency.

Industrial

1/35 Paringa Road, Murarrie, QLD

A 296 sqm industrial unit has been sold for $1.3 million at a 5.77% net yield. The property is leased on a five-year term with a five-year option.

65 Grindle Road, 1717 & 1727 Ipswich Road, Rocklea, QLD

One of the largest land holdings in Brisbane’s western corridor has been sold for $46.5 million. The 9-hectare property spans three titles and includes 12 buildings with a mix of office-warehouse, cold storage, and retail spaces. The asset has a 32% site coverage, offering further development potential.

1283 Lytton Road, Hemmant, QLD

A freestanding 1,080 sqm industrial warehouse in Brisbane’s TradeCoast precinct has changed hands for $4.8 million. The property includes 29 on-site car spaces and is leased to an existing tenant until December 2025, generating an annual net income of $310,864 plus outgoings and GST.

3351 Pacific Highway, Slacks Creek, QLD

A 1,400 sqm warehouse with a 400 sqm office space has been sold for $3.85 million. The property had been on the market for eight years, with the owner waiting for price expectations to be met.

Retail

174 Boat Harbour Drive, Pialba, QLD

A multi-tenanted regional convenience centre has been sold for $7.45 million, achieving a 6.47% passing yield. The 894 sqm site on a 4,250 sqm corner block includes a Red Rooster drive-through, Night Owl convenience store, H&R Block, and other fast-food outlets.

Hotels & Hospitality

Flagstone Tavern, Flagstone, QLD

A newly built pub in Brisbane’s southwestern suburbs has been acquired as part of an expansion strategy. The property, located next to a shopping centre, was purchased under a long-term leasehold of approximately 55 years for $14 million (*). The freehold remains with the previous owner, with a reported rent of around $1 million annually.

Development

Chelsea Avenue, Broadbeach, QLD

Construction is set to commence on Affinity Broadbeach, a 39-storey residential tower featuring two- and three-bedroom apartments with large balconies. The development is positioned in the sought-after Chelsea Avenue precinct and will add to the growing residential supply in the area.

Summary

This week’s commercial property market in Queensland highlighted strong demand across multiple sectors. Industrial properties continued to attract large-scale investment, with Rocklea Central’s $46.5 million sale being a standout transaction. The office market saw notable transactions in Brisbane’s inner suburbs, reinforcing the city’s ongoing development momentum. Retail assets remained attractive to investors, with the Pialba convenience centre sale achieving a solid yield. Meanwhile, the hospitality sector saw further expansion with the acquisition of Flagstone Tavern under a long-term leasehold. With construction set to begin on Affinity Broadbeach, the Gold Coast’s residential market remains active. The sustained investor interest in Queensland’s commercial real estate signals continued confidence in the market’s growth potential.

(*) What is a long-term leasehold?

A long-term leasehold means that instead of purchasing the freehold ownership (outright ownership of the land and buildings), the buyer has acquired the right to use and operate the property for a fixed period—in this case, approximately 55 years.

How It Works:

1. Lease Agreement – The buyer (lessee) leases the property from the freehold owner (lessor) for a fixed term.
2. Ownership Structure – The freehold owner retains legal ownership of the land and buildings, while the leasehold owner has the right to operate the business and earn income from the property during the lease period.
3. Rental Payments – The leasehold owner typically pays rent to the freehold owner. In this case, the reported rent is approximately $1 million per year.
4. Expiry & Renewal – When the lease expires, the property reverts to the freehold owner, unless there is an option to renew for an additional term.

Benefits & Considerations:

• Lower upfront cost – A leasehold purchase is generally cheaper than buying freehold, as the buyer does not own the land indefinitely.
• Ongoing rent obligations – The leaseholder must pay rent to the freehold owner for the duration of the lease.
• Limited control over major changes – Leaseholders may need permission from the freehold owner for major renovations or redevelopments.
• Depreciating asset – As the lease term reduces over time, the leasehold property’s value may decline unless the lease is extended or renewed.

Example in this Transaction:

• The Flagstone Tavern was acquired under a 55-year leasehold for $14 million, meaning the buyer controls and operates the business but does not own the land or buildings outright.
• The freehold remains with the original owner, who collects an annual rent of approximately $1 million.
• This structure allows the buyer to benefit from business operations without the full capital investment to purchase the land.

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, Queensland’s commercial property market saw strong activity across multiple asset classes, with notable transactions in retail, office, industrial, and development sites. Investor demand remains resilient, particularly for high-quality retail and industrial properties, while Brisbane’s logistics sector continues to grow in prominence.

Retail

• A multi-tenanted large format retail centre at 170 Kremzow Road, Brendale sold for $13.22 million, reflecting a 6.14% yield. The 3,455 sqm property, fully leased to national tenants including Autobarn, Silly Solly’s, Pets Domain, and The Salvation Army, attracted strong investor interest due to its location in a high-growth corridor near Caboolture West.

Office

• Salisbury: A 131 sqm office and warehouse unit at 7/20 Flanders Street changed hands for $712,000. M8 Realty facilitated the deal.

• Yeronga: Norhart Developments acquired a 300 sqm office building on a 2,722 sqm site at 24 Cansdale Street for $4.15 million. The company plans to establish its headquarters on-site while redeveloping the rear into industrial units.

• Coorparoo: Two office-warehouse units at 54 Turbo Drive secured new tenants. Audiovisual rental company Scene Change signed a five-year lease on 1,354 sqm, while Douglas Partners, a geotechnical consultancy, took 1,682 sqm for a 10-year lease.

• Griffin: Woolworths confirmed as the anchor tenant for Freshwater Village, a major retail and health hub set to open in late 2026.

• Toowoomba: A property leased to Fellowship Queensland at 18-20 Hanna Court sold for $1.826 million.

Child Care Centres

• Goodstart Early Learning Redcliffe (33 Williams St) sold for $3.131 million, yielding 3.63%.

• Goodstart Early Learning Wavell Heights (231 Hamilton Rd) changed hands for $4.12 million, yielding 3.72%

Industrial

• Narangba: A modern 2,985 sqm warehouse at 1 Robart Court sold off-market for $8.6 million with a leaseback to Matrix Steel. The deal included a five-year lease and demonstrated continued investor appetite for high-quality industrial assets.

• Mackay: Trilogy Funds sold a custom-built industrial building at Diesel Drive, Paget, for $15 million, more than doubling its purchase price from six years ago.

• Greater Brisbane Industrial Market: Demand for industrial and logistics space remains strong, with take-up levels 40% above the 10-year average. Yatala has emerged as a prime industrial hub, with land values rising up to 90% since 2020.

Hotel & Hospitality

• Runaway Bay: The Runaway Bay Motor Inn (429 Oxley Drive) was acquired by the Mangu family for $12.5 million, marking their second motel investment in the region. The 41-room property offers significant operational and redevelopment potential.

Development & Land

• Pimpama: Brisbane Catholic Education (BCE) sold a 4-hectare site at 2 Gainsborough Drive for $11.55 million after determining the land was too small for its original school plans. The site is zoned for medium-density residential development.

Market Outlook

Brisbane’s commercial property market continues to attract investors, particularly in retail, industrial, and logistics assets. With Woolworths anchoring new developments and high demand for industrial properties, the outlook remains positive. The growing prominence of Brisbane as a logistics hub suggests sustained investor confidence in Queensland’s expanding commercial real estate market.

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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