This successful sale highlights the strong demand for freestanding logistics and commercial properties in Brisbane’s northern suburbs, with owner-occupiers actively seeking strategic sites to support operational growth.

For expert advice on commercial property sales, real estate opportunities, or investment in Brisbane and Queensland, contact the team at McGees Property Brisbane today.

Gavin Moore | Nina Brailey

McGees Property Brisbane is pleased to announce the successful off-market sale of the commercial strata holdings at 200/448 Boundary Street, Spring Hill for $5,500,000. The 1,028 sqm* strata investment, anchored by Australia Post, spans three street frontages and includes a rare allocation of 52 secure car parks. The property was sold on behalf of a private investor to an entity associated with two leading surgeons, who will occupy part of the building while the balance offers strong leasing opportunities for complementary health operators.

Transaction Highlights

Property Type: Strata-titled Retail & Medical/Office

Address: 200/448 Boundary Street, Spring Hill QLD

Net Lettable Area: 1,028 sqm* across six tenancies

Land Area (base parcel): 2,735 sqm*

Car Parking: 52 secure undercover bays

Zoning: DC1 – District Centre

Proximity: 150m to St Andrew’s Hospital, 500m to Brisbane Grammar Schools & St Joseph’s Gregory Terrace, 700m to the planned Olympic Aquatic Centre & Stadium, 800m to Roma Street Station, and 1km to the Brisbane CBD

Seller’s Comments

“When I approached Guy to assist with selling this asset off market, he was very quick to establish the value proposition, especially in a rigid Spring Hill market. He presented numerous offers, and we quickly determined that this owner occupier/investor option was best placed to complete the sale in a timely and certain manner.”

Agent’s Insight

Guy Stafford, McGees Property Brisbane, added:

“Buyers are becoming more educated and better prepared, many are working with advisors and acting quickly after missing out in a competitive market. My role is to stay across these shifts and match the right buyer with the right opportunity so our vendors achieve the strongest outcome, whether on or off market.”

Buyer’s Agent Perspective

Michael McCullagh, McCullagh Property Group, who acted as the Buyer’s Agent, said:

“This acquisition ticks every box: proximity to one of Brisbane’s top health precincts, a rare car park ratio, and future growth catalysed by Olympic infrastructure. Importantly, Guy’s diligent approach in running a discreet and targeted process meant we were able to secure the right opportunity for our client with speed and certainty.”

We would like to thank everyone involved in this transaction for their professionalism and efforts in achieving a strong result for both parties.

© 2025 McGees Property Brisbane. All rights reserved.

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

David Bright from McGees National Property Consultants shared that this property became available when Olex Cables, a Pacific Dunlop subsidiary, ceased its Queensland manufacturing operations. Despite scaling back, Olex has retained a presence at the site, leasing a 3461 square metre building along with 7700 square metres of hardstand for its sales, distribution, and storage needs in Queensland.

According to Mr Bright, approvals are already in place for constructing three additional buildings, with sizes ranging from 600 to 2500 square metres, which can be customised for new tenants.

Following Olex’s downsizing, RX Plastics has taken up a five-year lease, with options for extension, on a 4005-square-metre building with hardstand space. The annual rent is set at $185,000.

Other tenants, including Milton Printing Pty Ltd and Classic Office Relocations, have also moved into the estate.

Mr Bright further noted that the property owner is actively seeking tenants for three additional buildings that will be constructed to meet specific requirements. The first of these has been secured, with an industrial diner operator set to open soon.

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

From Listed to Leased and Sold

Recent Commercial Property Activity in Brisbane

Leased

6/21 Goggs Road, Sinnamon Park Leased to a well established restaurant operator as a ‘dark kitchen’ as part of their expansion plans.

906 Stanley Street, East Brisbane Leased to a local business who plan to expand and take advantage of the high profile building and excellent onsite parking.

17/76 Curragundi Road, Jindalee Leased to a rapidly expanding National Health and Fitness chain to establish their business in the Western Suburbs.

2/1354 Gympie Road, Aspley Leased to a convenience store who will offer a wide range of imported specialty items aimed to appeal to the local market.

GF/243 Lutwyche Road, Windsor Leased to a well-established IT Solutions Company attracted to the flexibility of the striking warehouse conversion.

Brisbane is one of Australia’s fastest-growing cities—and that makes it a great place to grow your business. We are here to help you tap into that momentum with the right commercial lease. Whether you are after a small startup hub or a high-profile corner office, we have built strong relationships with property owners across the city to give you access to a wide range of options.

We know the local business districts inside and out—from the energy of the CBD to the prestige of the Golden Triangle. These are the areas where location can make a real difference, offering the visibility, access, and buzz that help businesses thrive.

We focus on matching you with spaces that do not just look good on paper—they work for you in the real world.

Growth and Demand in Brisbane and Surrounding Areas

Ongoing infrastructure upgrades and major developments are driving strong commercial growth in Brisbane, with properties strategically positioned in prime commercial areas. From modern office towers to vibrant retail precincts, there is no shortage of leasing opportunities. A number of available properties cater to various business needs, enhancing the appeal for prospective tenants.

Here are ten properties recently leased by our team:

139 Gotha Street, Fortitude Valley, Queensland

• Type: Office space

• Floor Area: 153 square metres

• Details: Fully fitted office space in a premium location in Brisbane City, QLD.

Suite 2, Level 1 / 165 Moggill Road, Taringa, Queensland

• Type: Office tenancy

• Floor Area: 92 square metres

• Details: Fitted tenancy in Taringa Central, QLD, with excellent parking.

Basement / 811-815 Stanley Street, Woolloongabba, Queensland

• Type: Heritage space

• Floor Area: 38 square metres

• Details: Unique space in a heritage-listed building in Brisbane City, QLD.

447 Nerang Road, Molendinar, Queensland

• Type: Showroom, office, and warehouse

• Floor Area: 231 square metres

• Details: Great exposure, mixed-use functionality in Brisbane City, QLD.

T2 / 160 Queen Street, Brisbane, Queensland

• Type: Retail space

• Floor Area: 103 square metres

• Details: High-traffic location on Queen Street Mall, Brisbane City, QLD.

Shop T22, 247 Wickham Street, Fortitude Valley, Queensland

• Type: Retail

• Floor Area: 131 square metres

• Details: Former Hungry Jack’s site in Brunswick Mall, Brisbane City, QLD.

1-3 / 31 Springfield Lakes Boulevard, Springfield Lakes, Queensland

• Type: Retail

• Floor Area: 716 square metres

• Details: Large tenancy in the Springfield Lakes Centre, QLD.

8 / 145 Charlotte Street, Brisbane City, Queensland

• Type: Ground-floor retail

• Floor Area: 90 square metres

• Details: Retail unit in a heritage building located in Brisbane City, QLD.

54 Old Bay Road, Deception Bay, Queensland

• Type: Industrial property

• Building Size: 9,772 square metres

• Floor Area: 1,500 square metres

• Details: Large industrial site in Deception Bay, QLD.

40 / 302-304 South Pine Road, Brendale, Queensland

• Type: Takeaway tenancy

• Floor Area: 110 square metres

• Details: Ideal location for food business in Southpine Central, QLD.

Why Are Businesses Choosing Brisbane?

Brisbane is becoming a go-to city for businesses, and a big reason is cost. Compared to Sydney and Melbourne, setting up in Brisbane is simply more affordable — whether it is leasing an office, hiring staff, or managing day-to-day expenses. That means companies can do more with their budget. But it is not just about money. The city has a positive, business-friendly vibe, backed by solid infrastructure, government support, and a real push for growth. On top of that, Brisbane’s population keeps rising, which means more customers and more talent. There’s a strong pool of skilled workers here, thanks to local universities and training programs, and people are moving to the city for the lifestyle. Altogether, it’s a smart place to build or grow a business — affordable, well-connected, and full of opportunity.

Understanding Commercial Leases in Brisbane

We are pleased to highlight how important it is to understand the key terms and conditions of any lease or rental agreement—it is a vital step in protecting your business.

Key Lease Terms and Conditions Explained

Leases usually cover:

• Duration

• Maintenance responsibilities

• Outgoings (shared building costs)

• Permitted business use

Lease vs Rent: What Is the Difference?

• Rent: The amount you pay.

• Lease: The legal document that defines how, when, and why you use the space.

20 Common Commercial Leasing Terms

1. Lease Term – How long the lease runs (e.g., three or five years).

2. Base Rent – Your monthly payment.

3. Outgoings – Costs like rates, water, and insurance.

4. Option to Renew – Your right to extend the lease.

5. Make Good Obligation – Returning the space to its original condition.

6. Fit-Out – Customisation of the space to suit your business.

7. Rent Review – Periodic rent increases.

8. Security Deposit / Bank Guarantee – Held as protection for the landlord.

9. Permitted Use – Approved business types for the space.

10. Sublease / Assignment – Transferring your lease rights.

11. Gross Lease – Rent includes outgoings.

12. Net Lease – You pay rent and outgoings separately.

13. Common Area Maintenance (CAM) – Costs for shared areas.

14. Indemnity Clause – You agree to cover damages you cause.

15. Exclusive Use Clause – Prevents similar businesses from leasing nearby.

16. Zoning – Local government rules for permitted business types.

17. Heads of Agreement – Initial summary of lease terms.

18. Termination Clause – How and when the lease can end early.

19. Condition Report – A documented snapshot of the property’s condition.

20. Relocation Clause – Allows the landlord to move your tenancy.

Types of Commercial Properties for Lease in Brisbane

Office Spaces Designed for Productivity

Modern office spaces in Brisbane are built for the way people work today. They offer open-plan layouts, collaborative zones, private meeting rooms, and reliable high-speed internet—essentials for hybrid and remote-friendly teams. Suburbs like Fortitude Valley, Spring Hill, Milton, and the Brisbane Central Business District are especially popular, combining proximity to transport, dining, and other amenities that make day-to-day operations smoother. These areas are in high demand for businesses looking to position themselves close to major clients and talent pools.

Explore available office leasing opportunities with McGees Property Brisbane.

Retail Shops in High-Traffic Locations

Retail thrives where people gather—and Brisbane offers no shortage of high-traffic locations. Queen Street Mall, Fortitude Valley, and James Street are standout precincts where foot traffic is steady and visibility is high. These areas are hotspots for fashion retailers, health and beauty services, cafes, and boutique businesses looking to attract both local and tourist shoppers. Suburbs like Indooroopilly and Carindale, anchored by major shopping centres, also offer strong opportunities for suburban retail success.

Find current retail leasing options at McGees Property Brisbane.

Industrial and Warehouse Facilities for Heavy-Duty Operations

When it comes to warehousing, logistics, and large-scale operations, Brisbane’s outer-ring suburbs are leading the way. Acacia Ridge, Rocklea, and Brendale are consistently in demand thanks to their strategic locations near major highways, freight routes, and the airport. These areas provide high-clearance warehouses, truck access, container set-downs, and ample space for manufacturing or storage. Businesses in e-commerce, transport, and distribution are especially active in these precincts.

Search industrial and warehouse properties through McGees Property Brisbane.

Prime Commercial Leasing Areas in Brisbane

Brisbane’s CBD is the city’s commercial heart, offering prestige, connectivity, and top-tier amenities. Key areas like Edward and Eagle Streets are renowned for their concentration of premium office spaces and proximity to major financial institutions. Notable developments include the Gold Tower at 10 Eagle Street, a 32-storey office tower providing direct access to the city’s best amenities.

Edward Street is also experiencing a revival, with long-term lease commitments from global luxury brands and major hospitality venues, enhancing its appeal for businesses seeking a prominent location.

High-Growth Suburbs

Fortitude Valley

Adjacent to the CBD, Fortitude Valley is a vibrant precinct known for its nightlife, retail, and entertainment venues.

Brendale

Located in Brisbane’s north, Brendale is a key industrial hub offering a mix of warehouses, factories, and distribution centres. The suburb’s strategic location and infrastructure make it ideal for businesses in logistics and manufacturing.

Chermside

Chermside is a major commercial centre in Brisbane’s north, home to Westfield Chermside, one of Australia’s largest shopping centres. The area offers a variety of retail and office spaces, attracting businesses seeking high foot traffic and accessibility.

Springwood

Situated in Brisbane’s south, Springwood is emerging as a commercial hotspot due to its affordability and transport links. The suburb offers a range of office spaces suitable for small to medium-sized enterprises.

Eight Mile Plains

Eight Mile Plains hosts the Brisbane Technology Park, Queensland’s largest business park, accommodating over 200 companies. The area is ideal for businesses in the technology and innovation sectors, offering modern facilities and a collaborative environment.

How to Find the Right Commercial Property

Define Your Requirements

Consider size, layout, customer access, parking, zoning, and competition.

For example, if you want to set up a cafe

Business type:
Small café offering dine-in and takeaway.

• Ideal size:
  80–120 sqm (enough for kitchen, counter, and 20–30 seats).

• Layout needs:

  • Open-plan front-of-house

  • Rear kitchen with exhaust and plumbing

  • Room for food prep and storage

• Customer access:

  • High foot traffic

  • Near train station, offices, or a shopping strip

  • Ground floor visibility

• Parking:

  • At least 2 off-street spaces for staff

  • Street or public parking for customers

• Zoning:

  • Property must allow food service under local council zoning rules

• Competition considerations:

  • Avoid areas with many cafés unless traffic volume supports it

  • Prefer locations with complementary, not competing, businesses

Inspect Carefully

Review fit-out needs, compliance, and shared facilities.

Fit-Out Needs

• Commercial kitchen layout with:

  • Rangehood and compliant exhaust system

  • Grease trap (check if installed or tenant must install)

• Plumbing for:

  • Hand wash basin, dishwashing sink, and coffee machine

• Service counter with point-of-sale system and display area

• Dining area with seating for 20–30 customers

• Durable, slip-resistant, and non-absorbent flooring

• Air conditioning and appropriate ventilation

Compliance Checks

• Confirm property is zoned for food and beverage use under local planning scheme

• Check if a development application (DA) or council approval is required for intended use

• Ensure kitchen layout and finishes meet food safety and hygiene standards

• Confirm fire safety compliance including emergency exits, extinguishers, and signage

• Apply for food business licence through local council (e.g. Brisbane City Council)

Shared Facilities

• Confirm use of common toilets for customers (as required for dine-in)

• Access to shared bin room or external waste disposal area

• Rear access or loading zone for deliveries

• Clarify maintenance responsibilities for shared areas (e.g. cleaning of hallways or toilets)

• Confirm any restrictions or rules for outdoor seating (e.g. footpath dining permits)

Use Online Tools and Local Experts

Websites like realcommercial.com.au and Queensland agencies provide detailed listings.

Understand Zoning

Make sure your business type is allowed. Some properties may require council approval for use changes.

Financial Considerations

• Base Rent + Outgoings: Know the full cost.

• Fit-Out: Account for setup costs.

• Security Bond: Typically three to six months’ rent.

• Legal Fees: Include lease review costs.

• Rent Increases: Check review frequency and method.

• Hidden Costs: Include signage, utilities, cleaning, and end-of-lease restoration.

Brisbane Commercial Leasing Market Trends for 2025

Price and Vacancy Forecasts

Office

• Moderate rent growth expected in high-quality city buildings.

• Vacancy rates are improving for A-grade spaces.

Retail

• Stable rents with modest growth in busy suburban areas.

Industrial

• Strongest segment.

• Vacancies below two per cent.

• Rent increases are driven by demand and limited supply.

Sector Highlights

• Industrial: Dominated by e-commerce and logistics demand.

• Retail: Driven by fitness, medical, and service businesses.

• Office: Shift toward flexible, technology-enabled spaces.

Tips for Negotiating a Commercial Lease

Leasing a commercial space is a big step. Smart negotiation can save you money and protect your long-term interests. Here’s what to focus on before signing.

What You Can Ask For in Lease Negotiations

Don’t be afraid to negotiate—many landlords expect it. Here are some common concessions tenants can request:

• Rent-Free Period

Gives you a few months without rent to help with fit-out and opening costs.

• Fit-Out Contribution

Ask if the landlord will pay part of the cost to customise the premises for your business (e.g. kitchen setup, shelving, flooring).

• Discounted Startup Rent

You may be able to agree on lower rent at the beginning, with gradual increases over time.

Legal Advice Matters

Always have a solicitor or commercial lease specialist review your lease before you sign. This helps you avoid nasty surprises and ensures your rights are protected.

Key Clauses to Review in Your Lease

1. Make Good Clause

Risk: You might have to return the premises to its original condition at the end of the lease, which can be expensive.
Solution: Negotiate clear terms so you know exactly what must be removed, repaired, or restored.

2. Outgoings Clause

Risk: You could be charged extra costs like council rates, insurance, or maintenance—without knowing the full breakdown.
Solution: Ask for a detailed list of outgoings and try to place a cap on your share.

3. Use of Premises

Risk: Your type of business may not be allowed under local zoning rules.
Solution: Check with council and make sure the lease permits your specific business activity.

4. Relocation or Demolition Clause

Risk: The landlord could relocate you within the building or end the lease early for renovations or redevelopment.
Solution: Negotiate for a long notice period or have this clause removed if possible.

5. Rent Review Terms

Risk: Rent could increase suddenly if the lease allows market-based or discretionary reviews.
Solution: Lock in fixed annual increases or CPI-based adjustments so you can plan with certainty.

Interested in leasing a commercial property in Brisbane areas?

Brisbane and its surrounding suburbs are not just growing—they are thriving. With strong demand, smart infrastructure investments, and a wide range of commercial properties available, the city offers real opportunities for businesses ready to take the next step. Whether you are launching a new venture, expanding your operations, or relocating for better value, now is a great time to make your move.

We are here to help you find the right space—one that fits your goals, supports your growth, and puts you in a position to succeed. From inner-city offices to suburban warehouses and high-traffic retail locations, we know the Brisbane market and how to navigate it.

If you are thinking about leasing in Brisbane, talk to us. Let’s find a space that works as hard as you do.

Contact Us

• Level 5, 410 Queen Street Brisbane QLD 4000
• 07 3231 9777
• 07 3831 2312
• brisbane@bne.mcgees.com.au

For a complete list of weekly commercial transactions in Queensland, visit McGees Wrap Up | McGees Property Brisbane

Disclaimer: The information provided in this blog is for general informational purposes only and does not constitute legal, financial, or professional advice. While we strive for accuracy, we make no guarantees regarding the completeness or timeliness of the content. Always seek independent advice before making any financial or real estate decisions. We are not liable for any loss or damages arising from your reliance on the information provided.

Liability Limited by a Scheme approved under Professional Standards Legislation

The Construction, Forestry, Maritime, Mining and Energy Union (CFMEU) has recently made headlines with large-scale industrial actions across Australia, including significant strikes in Brisbane, Sydney, Melbourne, Adelaide, and Perth. These actions stem from the federal government’s intervention in the union’s construction division and broader issues within the construction sector. This blog will explore the background of the strikes, the union’s goals, and their impact on the commercial property industry.

Background of the CFMEU Strikes

In August 2024, the federal government appointed an external administrator to oversee the CFMEU’s construction division. This decision followed allegations of corruption and criminal infiltration within the union. The move was met with widespread protests from CFMEU members, who argued that it undermined the union’s autonomy and the rights of its members (Attorney-General’s Department 2024, August 23).

Tens of thousands of construction workers across the country walked off the job, with rallies held in major cities. The strikes also brought attention to broader issues in the construction sector, such as worker safety and employment conditions.

What Does the Union Want to Achieve?

The CFMEU has outlined several key objectives for their strikes:

1. Opposition to Government Intervention: The union is protesting the government’s decision to place the CFMEU’s construction division under administration. The CFMEU views this as an attack on its organisational autonomy and the democratic rights of its members. (ABC News)
2. Worker Safety and Conditions: The union is advocating for improved safety standards on construction sites. A major focus has been the implementation of a heat stress code of practice to protect workers from hazardous conditions, especially in high-risk areas like Queensland. (ABC News)
3. Fair Wages and Employment Terms: The CFMEU is calling for wage increases and better job security for its members, aiming to ensure that workers are compensated fairly and enjoy stable employment. (Courier Mail)

Impact on the Commercial Property Industry

The CFMEU strikes have had a notable impact on Australia’s commercial property industry, introducing challenges for developers, investors, and stakeholders.

1. Project Delays: Strikes and work stoppages have led to significant delays in construction projects. For instance, major developments in Brisbane’s central business district have been interrupted, affecting timelines and delivery schedules.
2. Increased Costs: Project delays often escalate developers’ and investors’ costs. Extended timelines mean higher labour and materials expenses, reducing developments’ financial viability.
3. Investor Confidence: The industrial unrest has created uncertainty in the construction sector, potentially deterring investors who are wary of future disruptions.
4. Regulatory Scrutiny: The government’s intervention in the CFMEU has heightened regulatory oversight in the industry. Developers and contractors may face stricter compliance requirements, affecting planning and execution.

The CFMEU strikes underscore deep-seated issues within Australia’s construction sector. While the union aims to safeguard the rights of its members and advocate for improved conditions, the strikes have caused widespread disruption to the commercial property industry. Delays, increased costs, and diminished investor confidence are just some of the challenges arising from the ongoing industrial action.

As the situation evolves, stakeholders in the commercial property sector will need to adapt and find ways to mitigate these impacts. Whether through better communication, policy adjustments, or contingency planning, the industry must navigate this period of uncertainty.

References

• ABC News. (2024, August 27). CFMEU protest Melbourne, Sydney, Brisbane, Adelaide, Perth.
• Courier Mail. (2024). CFMEU workers walk off Skyring Terrace worksite, march toward Brisbane CBD.
• ABC News. (2024, February 15). Queensland CFMEU workers protest worksite conditions.
• Courier Mail. (2024). Police called to Cross River Rail site one day after LNP dumped CFMEU’s sweetheart deal.

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

McGees Property Brisbane is proud to announce the successful lease of 36F Vernon Terrace, nestled in Teneriffe’s vibrant dining and entertainment precinct. After the previous tenant was locked out, the landlord turned to McGees Property to secure a quick and effective result. Acting swiftly, our leasing agent Liam had the premises cleaned in no time and brought the space to market.

The response was immediate. Within just two weeks, McGees Property received over 20 enquiries and conducted 15 inspections. Following a focused three-week campaign, four strong offers were put forward. Ultimately, the landlord’s asking rent was achieved, and the space was leased to an experienced operator ready to capitalize on this prime location.

The new tenant, Thomas’, is the latest venture from the team behind Paddington’s beloved Frank’s Social Club. Set to open soon, Thomas’ promises to bring a laid-back, community vibe to Teneriffe, offering cocktails, wines, and a delicious menu of small plates, cheese boards, and their signature sloppy Joe.

Located at the base of the historic London Woolstore, Thomas’ is set to become a key part of Vernon Terrace’s buzzing hospitality scene, joining established favourites like Rita’s Tequila and Taqueria, Zero Fox, and Streetcorner Jimmy. With sunlit outdoor seating and a cozy, relaxed atmosphere, Thomas’ is poised to become a go-to spot for locals and visitors alike.

McGees Property is thrilled to have contributed to securing such a fitting operator for this sought-after location. Be sure to stop by Thomas’s once it opens and experience all this exciting new venue has to offer.
Heritage-listed wool stores surround Thomas’s bar, converted into luxury apartments and office spaces; this space is set within a precinct that boasts a blend of character, sophistication, and contemporary flair. With its fully equipped bar and restaurant setup, his bar is ready to cater to the area’s high demand for top-tier dining and social experiences.

Being in such a prime position ensures a steady flow of clientele, from professionals working in nearby offices to residents seeking a refined yet relaxed dining experience. The space’s existing infrastructure, complete with a modern kitchen, bar, and ample seating area, allows you to seamlessly open your doors to Brisbane’s thriving food and entertainment scene.

About our latest tenant: Thomas’

What is Thomas’?

Thomas’ is a new bar opening in Teneriffe, offering a casual atmosphere with drinks and food, including cheese boards, small plates, and sloppy Joe sandwiches.

Who is behind Thomas’?

The team behind Frank’s Social Club in Paddington is opening Thomas’, led by owner Jack Nicholson.

Where is Thomas’ located?

Thomas’ will be located at the base of the London Woolstore on Vernon Terrace, in Teneriffe, Brisbane.

When will Thomas’ open?

Thomas’ is set to open before the end of September.

Why is Thomas’ opening in this location?

Jack Nicholson chose the location because it has a similar community-centric vibe to Frank’s in Paddington and is near other successful venues on a lively strip.

How will Thomas’ be different from Frank’s?

While Thomas’ shares some similarities with Frank’s, it will have its own identity with a focus on spritzes, sandwiches, and a sun-dappled deck for seating.

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

Price Attack, a leading hair-care chain, has left its warehouse past behind and upgraded to a prime location in Brisbane’s trendy inner city. The company has secured a five-year lease on a modern, spacious office in Bowen Hills at the corner of Abbotsford and Cintra roads. This move, facilitated by McGees Property’s Guy Stafford and Quartz Commercial, marks a significant step in the company’s evolution.

Price Attack operated out of an office/warehouse in Eagle Farm for years. However, after transferring its storage operations to a third-party logistics provider, the company needed a new space to accommodate its growing e-commerce business and support its staff more effectively.

Price Attack’s new headquarters is more than just an office—it is a strategic move to attract top talent and foster employee satisfaction. “We wanted to have somewhere where our staff can enjoy the amenities around it,” said John Pascoe, the company’s Chief Executive. The vibrant location offers access to amazing coffee shops and restaurants, starkly contrasting the previous Eagle Farm site. Additionally, the new office provides ample car parking, a crucial perk in today’s competitive job market.

With the assistance of McGees Property’s Guy Stafford, Price Attack secured a prime 717 sqm office space, previously occupied by the Heart Foundation, with 13 secure car bays and a gross annual rent of $265,000 plus GST. This modern workspace is perfectly positioned to support Price Attack’s ambitious growth plans and attract the talent they need for their expanding operations.

If you’re looking at investing in commercial property in Brisbane but you’re not sure which option is best for you, we wanted to share some knowledge that can help you make the right choice. Here’s a look at the pros and cons of each property type.

Office Property

The benefits of investing in office property include:

Post-Pandemic Recovery: The office market in Brisbane is rebounding after a volatile few years, with increased demand for flexible and hybrid workspaces. Companies are looking for modern office spaces with collaborative environments, leading to an increase in leasing activity.

Vacancy Rates At Their Lowest in 10+ Years: According to Property Council, in the six months to July 2024, Brisbane’s CBD vacancy rate decreased from 11.7% to 9.5% vacancy, the lowest rate in over 10 years. The drop was due to strong demand with 26,552m2 of net absorption, as well as 40,338m2 of office stock being withdrawn from the market.

Infrastructure Boost: Major infrastructure projects like the Cross River Rail and Brisbane Metro are improving accessibility, making office properties near these projects more attractive.

Government and Corporate Tenants: Brisbane’s role as a business hub ensures a steady demand from government agencies and large corporations, providing stable tenancy and rental income.

For the cons, vacancy rates are still a concern in some areas, so you need to choose your location wisely; also, office properties require regular capital expenditure for maintenance and upgrades. This can impact your ROI so be prepared.

Industrial Property

Benefits of investing in industrial property over the next 12 months include:

E-commerce Growth: The increase in e-commerce has driven demand for logistics and warehouse spaces. Brisbane, with its strategic location and transport links, is well-positioned to benefit from this trend.

Lower Vacancy Rates: Industrial properties typically experience low vacancy rates. Strong demand for warehousing and distribution centres ensures high occupancy.

Long-Term Leases: Industrial tenants often sign long-term leases, providing predictable and stable cash flow. These leases also feature built-in escalations, enhancing ROI over time.

Cons are that industrial properties have strict zoning laws and environmental regulations, which can limit potential locations for investment; and they can also be sensitive to economic downturns, particularly manufacturing and exports.

Retail Property

Retail property investment has plenty of pros, including

Consumer Demand: Post-pandemic recovery has led to increased consumer spending, benefiting retail properties. High foot traffic areas such as Queen Street Mall continue to attract strong tenant demand.

Experience-Based Retail: There is a growing trend towards experience-based retail, where consumers are looking for entertainment and dining options alongside shopping. Properties that cater to these trends are seeing higher occupancy and rental rates.

Mixed-Use Developments: Retail spaces within mixed-use developments are particularly popular, combining residential, office, and retail spaces to create vibrant communities.

Unfortunately, the rise of online shopping continues to pose a challenge for traditional brick-and-mortar retail. Also, retail leases are often shorter and more volatile compared to office and industrial leases.

If you have any questions or you want further advice about property types and their investment potential, we’re happy to chat!

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

Brisbane: As of 2024, Brisbane’s commercial property market is experiencing robust growth, fueled by significant infrastructure projects and an expanding population. The city’s commercial properties are generally more affordable than those in Sydney and Melbourne, making it an attractive option for investors. For example, the average gross face rent for A-Grade commercial properties in Brisbane is around $840/m², with an average gross incentive of 41%.

Sydney: Sydney is the largest and most expensive commercial property market in Australia. High demand and limited supply have driven up prices, but the market offers strong rental returns and potential for capital gains. The average gross face rent for A-Grade properties in Sydney is approximately $1,440/m², with an average gross incentive of 36%.

Melbourne: Known for its cultural diversity and dynamic economy, Melbourne’s commercial property market is highly competitive. The city is recovering from the impacts of the pandemic, opening new investment opportunities. The average gross face rent for A-Grade properties in Melbourne is about $905/m², with an average net incentive of 43% (Wong et al., 2023).

Benefits of Buying in Brisbane

1. Affordability: Lower purchase prices and rental rates in Brisbane make it easier for investors to achieve positive cash flow compared to Sydney and Melbourne (Shi & Phillips, 2023).

2. Infrastructure Development: Major projects like the Cross River Rail and Brisbane Metro are enhancing connectivity and driving economic growth, contributing to the city’s attractiveness for commercial investments (Wong et al., 2023).

3. Population Growth: Brisbane is witnessing significant population growth as more people move from other states, increasing the demand for commercial spaces, particularly in retail and office sectors (Chong, 2023).

4. Government Incentives: The Queensland Government is providing various incentives to attract investments, such as tax breaks and grants for new developments, which further bolsters Brisbane’s attractiveness to investors.

Comparisons

Despite Brisbane’s more affordable property prices, rental yields in the city can be higher than in Sydney and Melbourne. For instance, in the office property sector, the average prime yield in the first quarter of 2024 was 5.88% in Sydney, 6.05% in Melbourne, and 6.39% in Brisbane (Wong et al., 2023).

Brisbane’s economy, while growing, still has significant reliance on traditional sectors such as construction and tourism, which can be more volatile compared to the more diversified economies of Sydney and Melbourne. Investors looking for capital growth may prefer Sydney, despite the higher initial investment, but should consider the competitive market and the associated risks. Meanwhile, Melbourne’s recent recovery in the commercial sector post-pandemic offers attractive opportunities, especially in emerging areas (Shi & Phillips, 2023).

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