The Brisbane CBD retail vacancy rate is currently around 19%, with greater vacancy in fringe locations away from core pedestrian thoroughfares. Local real estate agents are indicating when tenants want to lease premises, they desire prime locations with high pedestrian foot traffic passing. While the number of people in the CBD continues to slowly increase, stagnating gross effective rental rates continue to illustrate the ongoing challenges retailers have in the post Covid-19 business environment.
Below are a sample of recent CBD retail leasing transactions.
|
Address |
Tenant |
Area |
Approx. Gross Rental ($/m²) |
Date |
Annual Reviews |
|
Shop 4 |
TSG |
171 |
530 |
Early-23 |
4.0% |
|
Shop A&B |
Ezymart |
150 |
770 |
Mid-23 |
3.0% |
|
Lot 5, 198 Adelaide Street |
Saku Knives |
26 |
850 |
Early-24 |
4.0% |
|
33 Adelaide Street |
Elite Supplements |
90 |
1,280 |
Late-23 |
4.0% |
|
Shop 1 |
Banh My Pate |
41 |
1,600 |
Mid-23 |
4.0% |
|
195 Adelaide Street |
Japanese Takeaway |
71 |
1,400 |
Early-23 |
4% |
|
Liquorland |
135 |
1,850 |
Early-23 |
3.5% |
Written by McGees Property Brisbane Valuations
Scott Campbell and Owen Thorn
McGees Property specialises in market value assessments for acquisitions, disposals, financial reporting, SMSF audit and decision making purposes.
Should you need any valuation services, please contact:
Scott Campbell 0403 165 355 or Owen Thorn 0405 415 645.