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
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