A recent transaction in the commercial property market in Woolloongabba, known as ‘Gabba HQ,’ has garnered attention as it changed hands for a substantial $7.2 million. This sale, facilitated by JLL agents Harry Borger and Tim Jones, signifies a positive trend in the area despite the shelving of plans to rebuild the Gabba stadium for the 2032 Olympics and Paralympics.

Woolloongabba has experienced heightened activity in property transactions over the past year, contrasting with a more subdued inner-city market. The sale of ‘Gabba HQ’ at 32 Logan Road, a two-storey property situated near the Gabba stadium, attracted significant interest during an Expressions of Interest campaign. The property’s strategic location, offering 26 parking spaces and housing a law firm tenant, drew attention from various investors, including owner-occupiers and value-add investors.

The successful sale to a private buyer, operating in the private services sector, reflects the ongoing evolution of Woolloongabba as a sought-after precinct. While the Gabba stadium may no longer feature prominently in future infrastructure plans, the area’s appeal remains strong, with growing demand from owner-occupiers and investors seeking value-add opportunities. The precinct’s connectivity, especially with the upcoming Cross River Rail project, is a key factor driving interest in Woolloongabba.

The Cross River Rail initiative is expected to enhance accessibility, linking Woolloongabba to central Brisbane and beyond, thereby extending the reach of the CBD. This improved connectivity is poised to further boost the area’s attractiveness to tenants and investors alike. The sale of ‘Gabba HQ’ is indicative of the positive sentiment and increasing demand in the market, with prices and transaction volumes projected to rise as the precinct undergoes further development.

The transaction underscores the resilience and growth potential of the commercial property market in Woolloongabba, positioning the area as a promising investment destination. Despite the uncertainties surrounding the Gabba stadium’s redevelopment, the neighbourhood continues to flourish, offering lucrative opportunities for stakeholders. The ongoing transformation of Woolloongabba, coupled with its strategic location and connectivity, bodes well for its future as a thriving commercial hub.