Market Overview
This week, Queensland’s commercial property market saw strong activity in suburban retail centres, industrial assets in strategic locations, and service centres. Notable sales included a bustling retail hub in Brisbane’s northern suburbs, a high-profile Officeworks site in Oxley, and a significant industrial asset in Eagle Farm. Meanwhile, a former media site on the Gold Coast is set for a major transformation.
Retail
Row 71, Stafford Heights
A local retail hub at 67-71 Wilgarning Street, Stafford Heights sold under the hammer for $4.213 million. The 613 sqm centre, fully leased across eight tenancies and two storage areas, occupies a substantial 1,821 sqm site. With a 5.55% yield, the sale attracted strong interest, receiving 360 enquiries and 61 bids.
82 Bennetts Road, Camp Hill
Another fully leased retail centre in Camp Hill changed hands for $6.1 million, reflecting a 5.72% yield. This property attracted both local and interstate investors, signalling strong demand for well-positioned suburban retail assets.
Office
Officeworks, Oxley
A syndicate of investors divested a freestanding Officeworks showroom located at 2247 Ipswich Road, Oxley, for $9.5 million. The 2,783 sqm site is leased to Officeworks under a renewed seven-year lease, providing a 5.38% yield. The asset’s strategic location, 10 km west of Brisbane’s CBD, made it a prime target for investors seeking long-term, stable income.
Industrial
340 Curtin Avenue West, Eagle Farm
A prominent industrial site at 340 Curtin Avenue West was secured for $10 million. The 8,240 sqm property includes a 1,706 sqm warehouse leased to Coates Hire, with a 4.5% yield and a 3.5-year WALE. The off-market deal underscores the ongoing investor demand for assets in the TradeCoast industrial precinct.
Former Gold Coast Bulletin Site, Molendinar
A former media site at 1 Newspaper Place, Molendinar, acquired in 2024 for $16.5 million, is set to be redeveloped into a state-of-the-art wine storage and self-storage facility. The 17,740 sqm site will feature a three-storey, 15,736 sqm temperature-controlled facility. Construction is expected to commence in the second half of 2025.
Service Centres
Oasis Service Centre, Slacks Creek
A private investor acquired the Oasis Service Centre at 3765 Pacific Highway, Slacks Creek, for $9.65 million. The 6,004 sqm site is anchored by BP Australia and includes eight tenancies, as well as a Zarraffa’s Coffee drive-thru. The asset, which achieved a 6.13% yield, also has approval for a car wash development, adding future value potential.
Sales Summary
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521 Beams Road, Retail Unit: 145 sqm sold to an owner-occupier for $811,754
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4-6 Tectonic Crescent, Industrial Warehouse: 713 sqm sold to a plumbing business for $2.52 million
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7 Redcliffe Gardens Drive, Unit: 100 sqm sold to an investor for $450,000
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198 Adelaide Street, Retail Unit: 26 sqm sold vacant for $175,000
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1 Newspaper Place, Dalton Centre Office/Showroom: 244 sqm sold to an owner-occupier for $1.25 million
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51 Playfield Street, Office Unit: 85 sqm sold to an owner-occupier for $625,000
Market Outlook
Investor interest in Queensland’s commercial assets remains strong, particularly for suburban retail centres and industrial assets in well-located precincts like TradeCoast and Eagle Farm. Assets with secure, long-term tenants—like the Officeworks site in Oxley—continue to attract significant interest from both local and international buyers.
Meanwhile, redevelopment sites such as the former Gold Coast Bulletin property in Molendinar are being strategically repurposed to meet the growing demand for storage and logistics facilities. With yields tightening and buyer interest remaining high, the market is expected to stay competitive in the coming months.
For a complete list of weekly commercial transactions in Queensland, visit McGees Wrap Up | McGees Property Brisbane
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