布里斯班边缘市场状况2025年12月

Key Insights Strong tenant demand for prime space has kept upwardpressure on rents as vacancy falls in climate of no new supply. JENNELLE WILSONPARTNER, RESEARCH & CONSULTING 10.5% -4,518Sqm net additions FY-2025 15,963 Total vacancy falling Sqm net absorption FY-25 Total vacancy decreased from 10.7% inJanuary 25 to 10.5% in July 2025, witha period of strong positive netabsorption coupled with no new Net absorption remained positive, dueto steady prime absorption of9,462sqm in the 6-months to July-25.The whole fringe market is up by FY 2025 supply was negative with thewithdrawal of obsolete stock. This isexpected to continue into 2026,keeping net additions modestlynegative. There are no new buildings 8.8% 7.95% Prime gross face effectivegrowthp.ato Oct-25 Prime gross face rentgrowth forecast CY2026 Prime median yield Prime yields have been stable now fora year. Recent lift in transactionactivity and greater competitionbetween buyers puts yields on afirming bias into 2026, despite less Limited availability in good qualityassets and the differential to the CBD While the top buildings are expectedto continue to show good growth, therelatively higher amount of contiguousvacancy next year is expected to limit Absorption remains positivefor prime space POSITIVE DEMAND, BUT SLOWER MOMENTUM The Brisbane Fringe market recorded positive netabsorption of 1,409sqm in the six months to July 2025, with a total of 15,963 sqm absorbed over the year. While the firsthalf of 2025 delivered a softer result, with steady primeabsorption being negated by falls in secondary, overallperformance remains resilient. Over the past four years, theFringe has consistently outperformed other major CURRENT LEASING LANDSCAPE IS BIFURCATED Market activity has amplified the differing fortunes ofprime and secondary stock, with demand continuing tofocus on high-quality, well-located assets. Prime netabsorption was solid in H1-25, with 9,462sqm recorded,21,031sqm over the year. In contrast, secondary absorption The result is a market that remains positive overall butfollows a similar flight to quality trend as recently seen in Location remains a key driver of demand, with assets inthe Urban Renewal precinct recording positive absorption of5,119 sqm in H1 2025 and 10,003 sqm over the year. TheInner South also posted gains, with 173 sqm in H1 2025 and 4,603 sqm over the year. These increases across the two TENANT BRIEFS CONFIRM QUALITY FRINGE SPACEREMAINS IN DEMAND Supporting demand for the Fringe precinct, andpotentially awakening development proposals, there areseveral large occupiers active in the market. These includeYoui, seeking 15,000-20,000 sqm of A-grade space withinthe Fringe by 2026, with a preference for owner occupation.Additionally, Energy Queensland, already a major Fringetenant, has released a brief for 16,000-18,000sqm of Low supply to continue NO NEW OFFICE COMPLETIONS AS SUPPLYCONTRACTS The completion of 895 Ann Street, Fortitude Valley, in H22023 was the last major new addition to the Brisbane Fringeoffice market. Since then, there have been no newsignificant completions, with a small amount of space addedas part of an aged care development. The most significantchanges to stock has been driven by ongoing smallerwithdrawals of older space. The largest recent withdrawalwas 30 Little Cribb Street, Milton, an 8,700sqm A-grade FEASIBILITY CHALLENGES CONTINUE TO STALL NEWPROJECTS While several sites across the Urban Renewal corridorhold existing approvals for office development, feasibilityconstraints continue to delay new construction starts.Developers have contended with rising construction andlabourcosts, extended delivery timeframes, and higherfunding expenses for some time now. These conditions have "While the Fringe has the potential todeliver new office supply faster than theCBD, and in more bite-sized projects, this DEMAND FOR RESIDENTIAL DEVELOPMENTS LIMITINGOFFICE STOCK Rising developer focus for residential or alternativeinvestment product has diverted development away fromcommercial projects. Several approved office sites haveshifted toward residential, reflecting the strong pre-saleenvironment which may present an easier path todevelopment funding. An example is 166–180 BreakfastCreek Road, Newstead, originally approved for an 8-storey, While the Fringe has the potential to deliver new office supply faster than the CBD, and in more bite-sized projects,this is not expected to emerge until at least 2028. Prime vacancy at 12yr lows DESPITE LIMITED ABSORPTION VACANCY STILL FELL Brisbane Fringe Vacancy Total vacancy across the Brisbane Fringe fell to 10.5% inH1 2025, down from 12.0% a year earlier, as ongoing netabsorption and a lack of supply took total vacancy lower. % vacancy rate prime v secondary This improvement was driven by the prime sector, fallingsteadily, with the absence of new development placingcontinued pressure on available space. As at July 2025,prime vacancy had ti