布里斯班中央商务区办公室2025年第四季度市场状况

Sales lift in Q4 as tenant demand and rental growth remain firmQ4 2025 •Prime gross face rents grew 6.7% in 2025 with the speed of growth moderating from earlier highs but stillabove the 10-year average of 4.2%. Average prime incentives fell 15 bps in the quarter to sit at 37.75%.Secondary rents grew 5.1% in 2025, with modest quarterly uptick of 0.6%. Incentives were stable q/q at 39.5%. •With 360 Queen St now complete, the vacancy has increased slightly, particularly in the prime markets, butthis is expected to work through quickly. With only one refurbishment underway for 2027 and a new buildingin 2028 there remains a drought of new product in the interim, concentrating demand into existing assets. •Prime and secondary yields were stable in Q4. Almost three-quarters of the total CY2025 transactions were inQ4, reflecting the lift in purchaser engagement and competition in late 2025. This pointed to a tightening biasforyields,however the changing interest rate environment has since limited that influence into 2026. Brisbane CBD Prime Yield Range Core market yield range & median (3-5 year WALE) Brisbane CBD Office Transactions$million by purchaser location, sales $10m+ Capital MarketsJustin Bond+61 7 3246 8872Justin.bond@au.knightfrank.com Office LeasingMark McCann+61 7 3246 8853Mark.mccann@au.knightfrank.com Capital MarketsMatt Barker+61 7 3246 8810Matthew.barker@au.knightfrank.com Research & ConsultingJennelle Wilson+61 7 3246 8830Jennelle.wilson@au.knightfrank.com Valuations & AdvisoryPeter Zischke+61 7 3193 6811Peter.Zischke@qld.knightfrankval.com Capital MarketsBlake Goddard+61 7 3246 8848Blake.goddard@au.knightfrank.com