McGees Wrap Up 8th of August 2025

Market Overview

Queensland’s property market continues to demonstrate resilience across commercial, development, and agricultural sectors. This week saw notable acquisitions in Brisbane’s urban fringe, strategic expansion from regional and coastal developers, and a $66 million pastoral deal in central western Queensland. Leasing activity in key business hubs remains robust, while revitalisation efforts in Townsville highlight investor confidence in regional urban centres.

This Week’s Highlights

Commercial Office

73 Amelia Street, Fortitude Valley

• Buyer: Building Employees Redundancy Trust (BERT)

• Sold: $11 million + GST

• Details:
  BERT acquired a vacant 1496sqm two-level office building with 13 car parks. Located near the future Olympic precinct, the purchase reflects $7352/sqm land rate and $6957/sqm building rate—among the highest for Brisbane’s fringe markets this year (Herde, 2025c).

Hospitality Investment

569 Brunswick Street, New Farm (Brunswick Hotel)

• Buyer: Pradella Group

• Sold: $12.8 million (4.5% yield)

• Details:
  Historic 1889-built pub sold off-market. Triple net lease to ALH Group with term extending to 2087. Previously purchased for $7.364 million in 2017 (Herde, 2025c).

Land & Development

22-24 Sylvan Road, Toowong

• Buyer: Immerse Projects

• Sold: $9.531 million

• Details:
  1760sqm site approved for up to 15 storeys. Located near key amenities and transit. Previously held for over 30 years. Plans for a high-quality residential project (Herde, 2025d).

163–167 Lutwyche Road, Windsor

• Buyer: LRP Developments

• Sold: $2.7 million + GST

• Details:
  Corner site to be developed into a two-level commercial complex featuring 1647sqm of GFA and seven tenancies. Construction pending DA approval (Herde, 2025f).

390-396 Flinders Street, Townsville

• Buyer: Naresh Devjani

• Sold: $840,000 (March 2023)

• Planned Development Value: $4 million

• Details:
  Former Metway Arcade to be transformed into 20 apartments and 28 commercial spaces. Council-approved, targeting completion by April/May 2026 (Smith, 2025).

Hospitality Accommodation

40 MacAlister Street, Mackay (International Lodge Motel)

• Buyer: Chandu Chatla

• Sold: $2.75 million

• Details:
  20-room CBD motel purchased off-market. Freehold acquisition reflects continued demand in regional accommodation assets (Herde, 2025f).

Retail Lease

SmartStores@Citiswich, Bundamba

• Tenant: Cafe 63

• Lease Term: 10 years

• Size: 206sqm @ $640/sqm

• Details:
  First major tenant secured in new $45 million workstore development. 20% of units already sold (Herde, 2025e).

Agricultural Investment

Taylors Plains, near Mungallala

• Buyer: Peter and Jane Hughes

• Sold: ~$66 million

• Details:
  34,000-hectare wagyu-focused property with capacity for 6500 cattle. Acquisition complements Hughes family’s broader $927m cattle empire (Lenaghan, 2025).

Institutional Investment

339 Coronation Drive, Milton

• Buyer: Acure (Brisbane Office Trust)

• Expected Price: >$80 million

• Details:
  A-grade 12,980sqm fringe CBD office tower with 93% occupancy. Targeted 9%+ distributions to investors. Acure raising funds for acquisition (The Australian, 2025).

Final Take

This week’s activity illustrates strong investor appetite across diverse asset classes—from office towers and pubs to development sites and large-scale cattle stations. Urban renewal and infill development continue to dominate Brisbane’s inner fringe, while regional towns like Townsville and Mackay attract value-add investments. Retail leasing and institutional trust activity signal depth in tenant and capital demand.

References (APA Style)

Herde, C. (2025c, August 7). Trusting in the Valley. The Courier-Mail, p. 57.
Herde, C. (2025d, August 7). Coast builder takes deep dive into Brisbane market. The Courier-Mail, p. 58.
Herde, C. (2025e, August 7). Cafe 63 brews up a new Citiswich lease. The Courier-Mail, p. 58.
Herde, C. (2025f, August 7). Exposure steers developer to premium inner-city site. The Courier-Mail, p. 59.
Lenaghan, N. (2025, August 4). Wagyu Rich Listers buy Qld property for $66m. The Australian Financial Review.
Smith, L. (2025, August 7). Derelict building’s $4m revamp. Townsville Bulletin, p. 5.
The Australian. (2025, August 7). Fund managers target Brisbane towers in deal wave. The Australian, p. 19.

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

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