堪培拉写字楼市场2025年8月

Occupier demand remains strong across Parliamentaryprecincts, highlighting demand for best in class assets Naki DaiSenior Analyst, RESEARCH & CONSULTING Prime vacancy inParliamentary precincts Rise in overall vacancy y/y Sqm of net additions Net supply in H1 2025 to supportsustained demand in core locations. Lowest vacancy rate amongst allcapital cities since mid-2021. Prime space in Parliamentaryprecincts continue to be in demand. Yields hold firm Annual rental growth H1 2025 sales volumes Prime yields in Civic andParliamentary precincts continue to Prime net face rents average $473/sqmin the Civic and Parliamentary Subdued investment activity with onlyone transaction recorded in H1 2025. Overall vacancy in Canberra increased from 9.2% to 10.7%over the six months to July 2025, driven by the addition of 53,789 sqm of new supply. Notably, vacancy remains in linewith its 10-year average and is the lowest across all capitalcities. The market recorded positive net absorption of 6,794 More specifically, prime vacancy in Civic measured 16.2%,alongside 1,870 sqm of positive net absorption in the sixmonths to July 2025. Parliamentary precincts maintained alow prime vacancy rate of 1.6% as at July 2025, highlighting The first half of 2025 saw 53,789 sqm added to the market, taking total office stock to 2,459,064 sqm. Two buildingsreached practical completion in H1 2025: Capital AirportGroup’s 9–11 Molonglo Dr, Canberra Airport (19,703 sqm),and Morris Property Group’s 1 City Hill, Civic (34,086 sqm).On the other hand, several withdrawals occurred, including175–179 LondonCct, Civic (570 sqm) for redevelopment; 13LondonCct, Civic (2,269 sqm) for hotel conversion; and 10–12 Brisbane Ave, Barton (3,350 sqm) for redevelopment.Looking ahead, construction is well underway at 62 Constitution Ave, Campbell (16,000 sqm), scheduled for completion in H2 2025; 8–10 Petrie Plaza, Civic (5,000 sqm); In the Civic and Parliamentary precincts, prime net facerents increased by 2.5% to $473/sqm ($585/sqm gross face,up 3.7% y/y) over the 12 months to July 2025. Similarly, netface rents in the secondary market rose by 3.1% to $375/sqm($488/sqm gross face, up 3.5% y/y) over the same period.Incentives have declined slightly for the first time since 2017 for prime space in the Civic and Parliamentary precincts,averaging 27.4% in July 2025, down from 27.6% in January. After a pick-up in 2024, investment activity has beensubdued in 2025, with only one recorded transaction. Theonly transaction was 4 Mort St, sold off-market to AEGISInvestment Group in H1 2025 for $18 million, achieving acore market yield of 8.5%. The building was previously heldby Gladiator MEIF, who acquired the asset in 2013 for $14.75 With the improved economic outlook and investorconfidence returning, deal flow is expected to pick up in the Similar to other capital cities except Melbourne, yieldscontinue to hold firm since mid-2024. In the Civic andParliamentary precincts in Canberra yields have held firm at7.1%. This has resulted in a modest increase of 2.7% in Across Town Centres, yields have held firm since 2024,averaging 8.7% for prime and 9.9% for secondary. Thecurrent prime yield spread between Civic and Parliamentary