25/08/2026
BOUGHT OR PASSED Beenleigh Qld π
7.2% net. First Queensland one I've done, and I looked at this property for a client who wasn't ready to move at the time.
Let's be clear about the area first: the M1 corridor south of Brisbane is good buying, and it's exactly where we're hunting for clients right now. The area isn't the issue.
The issue is where the yield comes from. $665,000 at auction is over $4,200 a square metre, a full rate down there. You didn't buy cheap. The yield is high because the rent is high: around $300 a square metre, when comparables are closer to $230.
That gap is the cold room in the back, not the shed.
And it cuts both ways. Whoever fitted that out spent real money, and tenants don't walk away from that lightly. But to hold $300 a metre you need someone who specifically needs cold storage in Beenleigh. Widen the search and you're back at $230, a six-figure swing in value.
Verdict: PASS, but a close one. Right area, full price for income that relies on finding that same kind of tenant twice.