A recent property transaction in Woolloongabba, Brisbane saw ‘Gabba HQ’ at 32 Logan Road change hands for $7.2 million. Despite the shelving of plans to demolish the Gabba stadium for the 2032 Olympics and Paralympics, the commercial property market in the area remains robust. The sale, facilitated by JLL agents Harry Borger and Tim Jones, reflects the ongoing strength and appeal of the Woolloongabba precinct.
Harry Borger, JLL’s Associate Director for Metro Sales & Investments Queensland, noted a surge in transactions in Woolloongabba over the past year, contrasting with a more subdued inner-city market. The two-storey property, strategically located near the Gabba stadium, attracted significant interest during an Expressions of Interest campaign. The sale drew bids from various parties, including owner-occupiers and investors eyeing value-add opportunities. The buyer, a private business seeking expansion and a foothold in the evolving precinct, ultimately secured the property.
Tim Jones, JLL’s Director, Head of Metropolitan Sales & Investments – Queensland, highlighted the precinct’s connectivity as a key driver of demand. Woolloongabba’s accessibility is set to improve further with the Cross River Rail project, enhancing connections to central Brisbane and beyond. This development is expected to integrate Woolloongabba seamlessly into the CBD, offering convenient access to key areas and amenities like Roma Street Parklands.
The transaction signifies the enduring attractiveness of Woolloongabba as a commercial hub, with a positive market outlook and growing demand from owner-occupiers and investors alike. Despite the shift in infrastructure planning for the 2032 Games, the precinct’s evolution continues to underpin its investment appeal. The ongoing development in the area is expected to further drive up deal volumes and property prices in the coming period.
The sale of ‘Gabba HQ’ not only showcases the resilience of the Woolloongabba market but also reflects broader trends in the commercial property sector. The property’s proximity to key infrastructure and amenities, coupled with its value-add potential, made it an attractive investment opportunity. As Brisbane’s real estate landscape evolves, precincts like Woolloongabba are poised to become sought-after locations for businesses and investors looking to capitalize on growth opportunities.
In conclusion, the $7.2 million transaction at 32 Logan Road underscores the enduring appeal of Woolloongabba as a vibrant commercial precinct. Despite uncertainties surrounding major infrastructure projects, the area’s connectivity, development prospects, and evolving market dynamics continue to drive interest and investment in commercial properties. As Brisbane’s property market evolves, Woolloongabba remains a promising destination for businesses and investors seeking strategic opportunities in a dynamic urban environment.
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