Brisbane CBD Office Market: A 2026 Snapshot

The commercial property landscape in Brisbane is constantly shifting. To make informed investment and leasing decisions, it is essential to understand the fundamentals driving our city office market.

Current Market Performance

Investor appetite for Brisbane office assets is continuing to strengthen. Syndicators, super funds, and private capital are increasingly active as they pursue yield and assets in high-value locations that require minimal short to medium term capital expenditure. At the same time, investors remain sensitive to leasing risk and tenant incentives, with tenant demand increasingly concentrated in Premium and A-Grade buildings as they continue to rationalise footprints and prioritise quality over quantity.

Understanding the Market Data

Net absorption is the net change in occupied space. It is a vital metric for understanding market health because it measures the total amount of space leased minus the amount of space vacated. A positive figure confirms that more space is being occupied than is being vacated, which indicates resilient tenant demand.

37,480 square metres of positive net absorption confirms that businesses are actively choosing to occupy more space in the Brisbane CBD, which is a sign of a healthy, growing market

Future Outlook

Beyond the current cycle, the development outlook in the office sector appears extremely thin. It is highly likely we will see mooted projects deferred, materially downsized or repositioned towards residential use, largely due to elevated construction costs and elongated delivery timeframes. This tightening supply dynamic is likely to reinforce continued upward pressure on effective rents, softening incentives and improving valuations, particularly for well-located, high-quality buildings.

Contact the Capital Transactions Team

Reach out to our team if you are looking to sell or buy in the Brisbane CBD or Near City markets.

Hugh Menck
Phone: 0432 560 589
Email: hmenck@bne.mcgees.com.au

Archer Halliday
Phone: 0497 599 959
Email: AHalliday@bne.mcgees.com.au

Disclaimer: This information is for general purposes only and should not be relied on as advice. You should consider your personal situation and seek advice that is specific to your circumstances before making any decisions based on this information. Liability limited by a scheme approved under Professional Standards Legislation.

For a complete list of weekly commercial transactions in Queensland, visit McGees Wrap Up | McGees Property Brisbane

Disclaimer: The information provided in this blog is for general informational purposes only and does not constitute legal, financial, or professional advice. While we strive for accuracy, we make no guarantees regarding the completeness or timeliness of the content. Always seek independent advice before making any financial or real estate decisions. We are not liable for any loss or damages arising from your reliance on the information provided.

Liability Limited by a Scheme approved under Professional Standards Legislation