Queensland Commercial Property Wrap – Week Ending 26 June 2025
Market Overview
Investor confidence in Queensland’s commercial property market remained robust this week, driven by continued interest from interstate and offshore buyers. Hospitality, office, industrial, and retail sectors saw notable activity, while government policy announcements added momentum to residential and infrastructure development. The Brisbane Olympics and ongoing infrastructure spend continue to underpin long-term optimism across the market.
Retail & Mixed-Use
201 Elizabeth Street, Brisbane CBD
A Singapore-based investor, through Prestige Venture Australia, acquired a two-level mixed-use building in Brisbane’s Edward Street luxury precinct for $9 million. Previously owned by The Hour Glass, the 500 sqm asset has short leases and offers repositioning potential. The purchase reflects a 5% yield and a capital value of $11,968/sqm. (Herde, 2025a)
Hospitality
Parkhurst Tavern, Rockhampton
The Star Group purchased the Parkhurst Tavern for approximately $24 million from O’Hara Hotel Group. The venue includes 36 gaming machines and sits on a 6,700 sqm block. It adds to Star Group’s growing regional Queensland portfolio. (Petty, 2025)
Cleveland Courthouse, Cleveland
The heritage-listed waterfront property at 149 Shore St North sold for $4 million. Purchased by one of the Indian Brothers restaurant group founders, it will be restored and operated as a restaurant and wedding venue. (Herde, 2025b)
Industrial & Development
46 Flinders Parade, North Lakes
A Sydney-based high-net-worth investor purchased a 2,407 sqm office/warehouse for $7.6 million, leased to ACD Trade. The acquisition highlights Brisbane’s relative value compared to Sydney. (Herde, 2025d)
Stage 7H, Gates Rd, Flagstone
A local industrial developer acquired the final 5,231 sqm parcel in PEET Limited’s Flagstone masterplanned estate for $1.78 million. The site attracted multiple buyer profiles amid strong demand for commercial land. (Herde, 2025e)
General News
Labour Shortages Threaten Project Timelines
Queensland is expected to fall short of its housing and infrastructure targets due to a shortage of 18,500 construction workers. The upcoming Brisbane Olympics is set to amplify labour and material constraints, posing risks to commercial renovations, refurbishments, and shopfitting. (Bleby, 2025)
Industrial Action Hits Construction Sites
Unplanned CFMEU-led strikes caused disruptions across Brisbane and Gold Coast construction sites. These actions have delayed project timelines, particularly where essential services were halted due to absent workers. (Marin-Guzman, 2025)
Housing Affordability & Development Support
The Queensland government announced a $165 million Boost to Buy shared equity scheme, allowing eligible buyers to enter the market with as little as a 2% deposit. Paired with the $2 billion Residential Activation Fund and an expanded First Home Owner Grant, these measures aim to fast-track land activation and ease the housing crisis. The initiatives are expected to support commercial demand by accelerating population growth and residential development across Queensland. (de Blonk Smith, 2025)
This week’s transactions and policy announcements underline the strength and depth of Queensland’s commercial property market. With activity ranging from boutique retail and heritage hospitality to industrial land and modern offices, investors continue to see value across asset classes. Broader government efforts to boost housing and infrastructure development further solidify the state’s position as a national investment hotspot.
References
Bleby, M. (2025, June 13). In Queensland, another 18,500 building workers won’t be enough. Australian Financial Review.
Herde, C. (2025a, June 20). Boutique is in vogue. The Courier-Mail, p. 85.
Petty, S. (2025, June 24). Star Group on a roll with $24m Qld pub deal. Australian Financial Review.
Herde, C. (2025b, June 20). Gavel falls on courthouse. The Courier-Mail, p. 87.
Herde, C. (2025c, June 20). Cannon Hill is going off. The Courier-Mail, p. 88.
Herde, C. (2025d, June 20). The big money heading our way. The Courier-Mail, p. 85.
Herde, C. (2025e, June 20). Final Flagstone parcel sold. The Courier-Mail, p. 88.
Marin-Guzman, D. (2025, June 23). Builders brace for more strikes. Australian Financial Review.
de Blonk Smith, M. (2025, June 24). Queensland budget to boost housing access and supply. The Australian (Online).
For a complete list of weekly commercial transactions in Queensland, visit McGees Wrap Up | McGees Property Brisbane
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