34 | Insights H1 2026 Steve Leaumont of Commercial Townsville says a projected $40 billion transformation of Townsville is gathering pace as the city races to deliver housing, infrastructure and major events ahead of the Brisbane Olympics. The $30 million Flinders Street Wharves project has transformed the historic waterfront into a 2,600sqm, multi-level hospitality and entertainment precinct. Meanwhile, the recent approval of Townsville City Council’s Residential Activation Fund application will unlock more than 4,000 new homes while fast-tracking the infrastructure needed to support the city’s growth. The new Flinders Street Wharves precinct is bringing life back to Flinders Street East and activating the Ross Creek boardwalk, while Council’s City Activation and Housing Incentives Policy, and the 4.5-hectare North Rail Yards site redevelopment, will further energise the CBD and deliver higher-density housing and attract additional investment. “There are further housing developments, including build-to-rent projects, supporting construction and local jobs,” Steve says. “The buoyancy of the local retail and office markets is closely linked to these factors. Townsville’s industrial market also remains a strong performer.“While mining royalties are impacting other parts of Queensland, that’s not the case here, with the local mines continuing to drive industrial demand” Steve adds. Steve Leaumont steve.leaumont@townsville.rhc.com.au Townsville Office Industrial Retail Rents p/m² Vacancy Yields Rates p/m² Six-month market outlook Office Industrial Retail Rents p/m² $215-$280 $160-$200 $250-$350 Vacancy 15% 5% 12-15% Yields 9-10% 7-8% 8-9% Rates p/m² $2,000-$2,500 $1,800-$2,200 $2,700 - $3,200 Current market conditions $72,000 1,2,3, 4 / 5 Bright Street Avenue, Arcadia Recent Notable Transactions $54,000 5,6,7 / Bright Avenue, Arcadia For more information, contact: Photo Confidential Photo Confidential LEASED LEASED
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