CLEVELAND has emerged as the powerhouse of Brisbane’s Bayside commercial property market, with $129.9 million in transactions helping push the region’s total turnover to $234.3 million in 2024/25 – a 30.1 per cent surge on the previous year.
The standout result was revealed in new research from RWC Bayside, which tracked 162 deals across the region and highlighted a market fuelled by falling interest rates, a growing population, and renewed investor confidence.
Cleveland’s strong performance demonstrates the strength of the local economy and the suburb’s growing role as the Bayside’s commercial heart, said RWC Bayside director Nathan Moore.
Cleveland’s haul accounted for more than half of the region’s total turnover, followed by Wynnum/Manly with $59 million and Capalaba with $45.4 million.
“The region’s accessible entry price points, proximity to Brisbane, and growing infrastructure pipeline are all contributing to sustained momentum,” Mr Moore said.
Industrial property remained king across all three suburbs, contributing $114.2 million to the overall total.
These assets typically range from $1.5 million to $2 million and continue to attract interest due to low vacancy rates and straightforward lease structures.
Capalaba, traditionally a hub for bulky goods and industrial activity, saw renewed investor interest in both industrial sheds and service-based retail.
Wynnum and Manly are also experiencing steady demand, particularly for industrial holdings that cater to marine-related businesses and logistics operators.
Retail turnover across the Bayside reached $45.3 million, a drop from the 2021 peak of $207.2 million, yet local shopping strips and service-based tenancies in suburbs like Cleveland and Manly remain well supported.
“Despite national concerns around the impact of e-commerce, the Bayside’s retail market is proving its staying power,” Mr Moore said.
Office investment held steady, with rising demand for properties with medical tenants in precincts like Cleveland and Wynnum, where proximity to hospitals and growing residential catchments boost appeal.
While high construction costs have slowed development across Capalaba and Cleveland, sentiment remains strong thanks to major government investment.
“The fundamentals of the Bayside market remain incredibly strong,” Mr Moore said.
