Queensland Commercial Property News

Infrastructure projects worth $9 billion, more jobs and rising confidence point to 2019 being a year of economic growth, according to the Colliers International Townsville quarterly commercial report.

NSW hotel magnate Jerry Schwartz has made his first foray into Queensland, buying the Hilton Surfers Paradise for just under $70 million, well down on its initial asking price of more than $80 million.

A Paddington property with four separate streams of rental investment income has hit the market.

The commercial property boom shows little sign of abating despite the chill winds ripping through housing and shopping centres with a series of record-breaking office deals being struck just head of Christmas.

In the current piping hot commercial property market, yields of below 5% are often standard fare for investors as prices continue to climb.

The Bangkok-based Minor Hotels Group has bought into Far North Queensland in a deal worth about $19 million, acquiring the former QT Port Douglas from Event Hospitality.

Heavyweight funds group LaSalle Investment Management, acting for the California State Teachers’ Retirement System, has assembled a major parcel in Brisbane’s prized Golden Triangle worth about $200 million.

Developer Consolidated Properties plans a $250 million office building on a site near its first Fortitude Valley development in a bid to replicate the earlier project, which was leased and sold in 2016 ahead of breaking ground.

Veteran publican Peter Braithwaite has snapped up Brisbane’s Red Lion Hotel for just shy of $7 million, and is planning to upgrade the long popular southside establishment.