Caxton Street adjoining properties offer winning opportunity to investors
In Brisbane’s CBD, few streets are as notorious as Caxton Street. On game day, it becomes the beating heart of the NRL, flooded with fans keen to celebrate or commiserate their team’s performance at Suncorp Stadium down the road.
Now, a rare opportunity to secure a property on the strip has emerged, with two adjoining freehold properties at 18-26 Caxton Street, Petrie Terrace, hitting the market for the first time in more than a decade.
This comes at a time when a wave of high-profile investment is reshaping the street into a more formalised sporting and entertainment hub. Recent transactions include the $50 million sale of the Caxton Street Hotel and the Australian Rugby League Commission’s purchase of the former Gambaro Hotel (now operating as The Beetson Hotel).
Melbourne Storm player Cameron Munster is backing the upcoming Milton Rooftop & Sports Bar, while the National Rugby League has unveiled plans for a new IMAX-experience sports-bar concept that is set to anchor the precinct’s reputation as the sports hub of Brisbane.
While its connection to Suncorp Stadium remains central, the precinct’s appeal is increasingly extending beyond game day, supported by a strong and consistent food and beverage offering.
Colliers’ Shaun Seeto says the asset is expected to appeal to a broad mix of buyers seeking both exposure and flexibility.
“With unprecedented investment flowing into Caxton Street and the surrounding precinct, this offering represents a rare chance to secure a foothold in what is rapidly becoming the entertainment capital of Australian sport,” he says.
“This is a very rare chance to create a flagship venue in the middle of Brisbane’s NRL heartland, and we are already fielding a huge amount of pre-market interest. Not only is it a vibrant precinct on game day, but a popular strip for food and beverage on non-game days.”
The offering comprises two buildings with a combined net lettable area of about 512 square metres, along with around 70 square metres of external seating, on a 299-square-metre site.
One building is leased to long-standing operator Abbra Kebabra, while the neighbouring four-level venue, formerly home to Brewski and more recently Velveteen Rabbit, is being offered with vacant possession. With DC1 zoning, the property supports a wide range of hospitality, retail and mixed uses.
The property is being sold through an expressions-of-interest campaign closing at 4pm on May 21.
