Queensland Premier Campbell Newman says he is happy to negotiate with councils about selling State-owned land assets to fund local projects.

Mr Newman says such revenue could be used to help fund a new super stadium and convention centre in the Townsville CBD.

He says councils are welcome to pinpoint land that is not being utilised.

"If they want to identify it, talk to myself and my minister and then go through a process where they engage with the local community and get people on board in terms of summary rezoning," he said.

"Then we can sell that land, we can take the proceeds and as I did with the tablelands council, I'm committed to seeing it ploughed back in."