1 Galeen St,
Point Lookout
A mixed-use development opportunity situated in the heart of North Stradbroke Island's only designated commercial precinct.
A developer-grade Information Memorandum has been prepared for this site. Register below for immediate access to the full investment brief.
Download Info Memo →A Rare Commercial
Corner Position
One of fewer than 5% of properties in Point Lookout carrying Local Centre zoning — with double the street presence of comparable single-frontage sites.
645m² corner allotment · Galeen St & Endeavour St · Point Lookout commercial precinct
Only 20% of this island
can ever be privately owned
80% of North Stradbroke Island is protected national park and conservation land — permanently unavailable for development. What remains is a fixed, finite pool of privately held property in one of South East Queensland's most sought-after island destinations.
A Three-Layer Vision
Architectural concept by Anna O'Gorman Architects. Mixed-use configuration within the 10.5m height allowance.
The Numbers Are Inside the InfoMemo
A capital-grade analysis prepared exclusively for this site. Available to registered parties only. Not a marketing brochure.
"The IM is not a marketing document. It is a transaction document. That distinction is everything."
— Pennisi Property Standard
Indicative concept only — all renders subject to council approval
Delivered instantly · Qualified buyers only · Strictly confidential
Access to Developer-Grade Info Memo
Your request for the Developer-Grade Info Memo is being reviewed and we will contact you shortly.
Pennisi Property · In conjunction with LJ Hooker Property Centre – Cleveland
Rocco Pennisi
Rocco Pennisi is a Queensland-licensed development site specialist with deep knowledge of the Redland City commercial market and a direct relationship with the vendor on this listing.
He has managed commercial acquisitions across South East Queensland — from Redlands to the Bay Islands — with a focus on sites that carry planning complexity or require specialist positioning to attract the right buyer.
Questions buyers ask before registering
Straight answers — no marketing copy. For anything not covered here, call Rocco directly on +61 418 745 398.
Yes — site inspections are available by appointment. All inspections are conducted personally by Rocco Pennisi. To book, register via the Investment Report form below, and Rocco will contact you directly to schedule a time. Virtual inspections (video walkthrough + aerial) are also available on request for interstate parties.
The vendor's preference is a standard 90-day settlement from contract execution. Shorter or longer settlement terms may be considered — this can be discussed as part of your EOI submission. The current tenancy lease converts to monthly from 1 May 2026, giving the buyer full flexibility on timing. The full draft contract is available in the Data Room.
Yes. A significant proportion of enquiries for this property have come from interstate buyers — particularly from New South Wales and Victoria. The Investment Report includes aerial photography, full site video, and architectural renders, giving remote buyers sufficient due diligence material without requiring an in-person visit at the early stages. Foreign investment may be subject to FIRB approval — independent advice is recommended for non-Australian purchasers.
No current development approval exists on the site — it is being sold as a vacant development opportunity with existing tenancy. The Local Centre zoning under the Redland City Plan permits a broad range of uses (retail, dining, office, residential, short-stay) as code-assessable, meaning development within the stated parameters does not require impact assessment. A preliminary town planning report is included in the Data Room.
Commercial land finance at this price point typically requires a 30–40% deposit for non-owner-occupied purchases, with LVRs varying by lender and development intent. The existing $60K p.a. tenancy income assists serviceability assessments. We recommend engaging a commercial broker familiar with Queensland development sites early in your due diligence. We do not provide finance advice — the Investment Report contains all relevant site data to support a finance application.
Once you register, Rocco will review your submission and contact you directly — typically within one business day. You will receive the full Investment Report (InfoMemo) and, if appropriate, access to the iDeals Data Room. EOI submissions are reviewed on a rolling basis — there is no fixed closing date, but access may be restricted as the process matures. If you are serious about the site, early registration is recommended.
One site. One commercial
opportunity. Request access now.
Pennisi Property manages a select number of commercial listings at any time. 1 Galeen Street is our current exclusive — and one of the last Local Centre zoned freeholds available on North Stradbroke Island.