The property sold to an SEQ based private investor, reinforcing the depth of buyer demand for well-located unit blocks.
The property at 18-20 Webb Street, Margate sold on the last working day of 2025, following a highly competitive campaign that generated 110 enquiries, six registered bidders and five pre-auction offers. The sale was handled by James Hanley and Andrew Burke of Ray White Special Projects Queensland, who have handled the vast majority of recent unit block sales within South East Queensland.
Situated on a 1,455sqm future development site just one block back from the Moreton Bay shoreline, the property comprises an entire complex of eight two-bedroom, one-bathroom brick units along with an additional 70 square metre brick retail tenancy. The asset traded at a land rate of $2,234/sqm and gross passing yield of 6.16 per cent.
James Hanley said the result highlights just how tightly held and fiercely contested the unit block sector has become. He described the market as “incredibly thinly traded,” noting that apartment blocks are often intergenerational assets held within families for decades.
“They rarely come to market. When they do, demand is fierce, and auctions are often the preferred method of sale because of that competition,” he said.
Despite the building requiring some refurbishment and cosmetic upgrade, buyers were drawn to the long-term fundamentals of the site; solid brick construction, water views, walkable amenity, zoning that allows a permissible building height of 12 metres with potential to increase, and the prospect of north-eastern bay views.
Andrew Burke said the transaction clearly demonstrates why investors are aggressively targeting unit blocks throughout Greater Brisbane. “Sustained demand in the individual unit market, historic low vacancy rates, and the absence of a looming supply of new affordable apartments due to high construction costs are all driving competition,” he said. “Quality investment stock is scarce, and buyers are moving quickly when opportunities arise.”
The sale also reflects growing confidence in the Redcliffe Peninsula, which is experiencing a noticeable transformation driven by infrastructure, lifestyle appeal and relative affordability compared to inner-Brisbane locations. Located just 30 minutes from the Brisbane CBD, the area is increasingly being recognised as a compelling investment destination.
“Many Brisbane buyers really need to get out this way and remind themselves of how beautiful this location is,” Mr Burke said. “Being so close to the bay while still within easy reach of the CBD makes it incredibly attractive, and investors are clearly responding to that.”
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