悉尼中央商务区办公室2025年第四季度市场状况

Rents soar in the core Q4 2025 •Prime net face rents in Sydney CBD rose 5.5% in 2025 to average $1,397/sqm, led by Core (+8.2%) and Midtown(+4.8%) precincts. Incentives edged down from 36.1% in Q4 2024 to 35.6% in Q4 2025, lifting prime effectiverents by 7.1% over the same period. •The continued weighting of tenant demand towards the Core precinct has widened the net face rental spreadbetween Core and other precincts, of note is the 43% discount to the Southern precinct. •Prime yields tightened in premium locations, compressing by 33bps to 5.7% in the Core and by 14bps to 6.3% inMidtown over 2025. •Investment volumes reached $3.3 billion in 2025, this was headlined by the acquisition of Grosvenor place byGPT and Commonwealth Super Corporation in Q4. Source: Knight Frank Research Sydney CBD office transactionsBy purchaser location, $ millions, $10m+ Office LeasingAndrea Roberts+61 2 9036 6703andrea.roberts@au.knightfrank.com Capital MarketsMichael Kwok+61 2 9036 6620michael.kwok@au.knightfrank.com Occupier ServicesKatherine Moss+61 2 9036 6647katherine.moss@au.knightfrank.com Research & ConsultingNaki Dai+61 2 9036 6673naki.dai@au.knightfrank.com Research & ConsultingMarco Mascitelli+61 2 9036 6656marco.mascitelli@au.knightfrank.com Valuations & AdvisoryJames Marks+61 2 9036 6684james.marks@au.knightfrank.com