This week’s commercial property market in Queensland saw a diverse range of transactions, spanning office leases, major industrial investments, historic hotel sales, and development site acquisitions. From significant investments in logistics properties to the unveiling of a new Olympic-standard sports centre, these deals highlight ongoing growth and confidence across various sectors.
Retail
Brisbane Airport, QLD
Viral sensation Brooki Bakehouse, known for its cookies, brownies, and cupcakes, is expanding with a new pop-up store at Brisbane Airport’s domestic terminal, near Gate 25. Set to open on Friday, September 20, the pop-up will initially run until Valentine’s Day, with the possibility of becoming a permanent fixture if successful. Owner Brooke Bellamy shared on Instagram the excitement and challenges of opening the store just a week before her due date, with her husband, Justice, helping to finish the space.
With 50,000 passengers expected to pass through the terminal daily during the school holidays, this pop-up is strategically positioned to capture high foot traffic. Brooki Bakehouse, which boasts four million followers on social media, has a global presence, shipping products across Australia, the United States, New Zealand, and Asia. Its cookbook also ships worldwide, further solidifying the bakery’s international reach.
This expansion marks a significant milestone for the brand, bringing its signature baked goods to a new audience and boosting its already impressive global footprint.
Bundamba, QLD
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Property: Dual-income fast food investment
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Sale Price: $8.7 million
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Yield: 5.57%
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Details: Occupied by Banjo’s Bakery Café (15-year lease with options to 2058) and Subway (10-year lease with options) on a 2,606 sqm site in Ipswich.
Cannon Hill, QLD
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Property: Brisbane childcare asset
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Sale Price: $5.45 million
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Details: National operator Edge Early Learning is on a 15-year lease to 2035 with options over a 765 sqm facility licensed for 115 places.
Condon, QLD
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Property: Bridgestone tyre and auto service site
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Sale Price: $1.9 million
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Yield: 5.81%
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Details: The property is on a 10-year lease to Bridgestone, expiring in December 2027 with an option.
Rocklea, QLD
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Property: Bridgestone truck service centre
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Sale Price: $2.73 million
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Yield: 6.15%
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Details: Located on a 5,166 sqm land parcel, the lease runs to December 2027 with an option.
Office:
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500 Brunswick Street, Fortitude Valley, QLD: Genus Group, an ASX-listed power infrastructure company, leased a 304 sqm ground floor space in a refurbished character building. The five-year lease was secured at about $650 per sqm gross. Russom Investments, the lessor, had acquired the property for $4.65 million and completed refurbishment works.
Industrial:
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Australia-wide (Sydney, Melbourne, Brisbane, Perth): Hankyu Hanshin Properties (Japan) and a Malaysian investor are investing $536 million in a logistics portfolio spanning 860,000 sqm. The portfolio, managed by ESR and ADIA, includes 11 properties across Sydney, Melbourne, Brisbane, and Perth. Tenants include Woolworths, DHL, Toll, and Maersk.
Hotel & Hospitality:
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25 Brisbane Street, Drayton, Toowoomba, QLD: The historic Downs Hotel, originally established in 1858, was sold for $4.95 million to an independent syndicate. Located on a 3,804 sqm corner site, the sale included both the freehold and the pub’s going concern (The Courier – Mail; Brisbane, Qld. 13 Sep 2024: 65)
Development:
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Jacaranda Ave and Democracy Way, Logan, QLD: Plans for a $142 million Logan Indoor Sports Centre have been unveiled. The facility will feature nine indoor courts and seat 7,000 spectators. This centre is part of broader infrastructure projects ahead of the 2032 Olympics.
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23 Arbor Street, Ferny Grove, QLD: A 1,618 sqm low-density residential site with dual street frontage sold for $2.295 million, offering significant future development potential.
These transactions underscore Queensland’s growing demand for commercial and development properties, reflecting a solid investment climate across the state.
For a complete list of weekly commercial transactions in Queensland, visit McGees Wrap Up | McGees Property Brisbane
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