Brunswick Street Precinct

Stock Available - As of July 1st 2025

Properties for Lease: 93
Listing Types: Elite 10, Elite Plus 17, Basic 63, Enhanced 3

Leased Activity FY2024-2025

Precinct Analysis

The Brunswick Street Precinct continues to record the highest volume of leasing activity in Fortitude Valley, driven by its heavy reliance on foot traffic and the natural turnover that comes with a nightlife and hospitality hub. Retail spaces in this pocket thrive when they are located within close walking distance of Brunswick Street Mall, where the majority of pedestrian activity occurs. Tenancies positioned further from the mall face a more challenging environment unless they offer a distinctive point of difference, operate as a destination in their own right, or service a niche market that is not easily replicated elsewhere.

Retail leasing in this precinct outperformed office leasing throughout FY2024-2025. High pedestrian visibility makes retail spaces easier to visualise and activate quickly, and new tenants can capitalise on the consistent flow of foot traffic. However, this also reflects the high turnover in the retail and hospitality sectors. Trading conditions remain challenging for operators, and in the current market, only exceptional locations or highly capable operators are achieving long-term success beyond their initial lease term.

One challenge for retailers in this area is the current demographic of individuals who congregate in the precinct. Leasing agents often find it difficult to present a location positively during inspections when there is a noticeable presence of anti-social behaviour during the day. Speaking with many operators currently working in this precinct, this issue is frequently raised. Although foot traffic is strong and trade can often be high for these retailers, one major concern is the safety of their staff. This concern affects both small independent operators and large national brands. While many businesses would value a location in this precinct, they are sometimes deterred due to safety concerns and the potential impact on their brand. At this time, there are no widely publicised formal procedures from council to address this issue, although reports indicate that council is aware and actively engaging with current tenants in the area.

Office leasing in the Brunswick Street Precinct faces a similar set of challenges. While the area offers excellent amenities and convenient public transport access, particularly its proximity to Fortitude Valley train station, the daytime environment does not convey the same professional or lifestyle appeal as the Homemaker or James Street precincts. Success for office tenants in this market often comes when landlords provide discounted rents to encourage occupancy or invest in high-quality, turn-key fitouts. Spaces that highlight the heritage and character of the surrounding buildings also tend to attract greater interest, as these unique features help differentiate them from other available offices.

A notable constraint for office tenants in this precinct is the lack of car parking availability in many buildings. While this is partially offset by excellent train access, parking scarcity can be a deterrent for businesses seeking convenience for staff or clients.

Homemaker Precinct

Stock Available - As of July 1st 2025

Properties for Lease: 35
Listing Types: Elite Plus 10, Basic 29, Enhanced 2

Leased Activity FY2024-2025

Precinct Analysis

The Homemaker Precinct saw fewer active leasing campaigns and completed transactions compared to the Brunswick Street Precinct, primarily due to the nature of its tenancy profile. This area is dominated by large-format retail showrooms and bulky goods operators, with many properties offering prominent exposure along Wickham and Ann Streets. These highly visible sites are tightly held, and when they do become available, landlords are often ableto secure new tenants without launching large-scale marketing campaigns.

There are two primary reasons for the lower leasing turnover in this precinct:

1. Limited Relocation Options
   Existing tenants occupy large footprints and benefit from excellent exposure. Finding alternative spaces of a similar size and quality within the inner city is challenging, which naturally leads to longer lease terms and lower turnover.
2. Landlord Positioning
   When prime spaces do become available, the high level of interest often allows landlords to complete transactions through direct approaches or off-market negotiations, reducing the need for extended advertising periods.

Office space is the dominant listing type in this precinct and has accounted for the majority of leasing activity in FY2024-2025. These office tenancies, often located in mid-rise buildings, attract businesses looking for practical spaces with strong amenity, better daytime appeal than Brunswick Street, and a greater likelihood of available parking. The Homemaker Precinct benefits from being less dense than the Entertainment Precinct, offering easier vehicle access while still sitting within walking distance of James Street and other lifestyle destinations.

Overall, the leasing trends in this precinct reflect stability rather than high turnover. Landlords with quality spaces are well-positioned to secure long-term tenants, particularly as businesses value convenience, car access, and proximity to both James Street and the CBD.

James Street Precinct

Stock Available - As of July 1st 2025

Properties for Lease: 27
Listing Types: Elite Plus 5, Basic 20, Enhanced 2

Leased Activity FY2024-2025

Precinct Analysis

James Street remains Brisbane's premier retail and lifestyle destination, and FY2024-2025 reaffirmed its reputation as the most exclusive and tightly held precinct in Fortitude Valley. At the close of the financial year, only seven active campaigns were being marketed on premium advertising tiers, which reflects the scarcity of available stock. Opportunities in this area are limited, and many transactions occur off-market before spaces are publicly listed.

Landlords in James Street enjoy a unique position of strength. They can afford to be highly selective, carefully vetting prospective tenants to ensure each new occupant enhances not only their property but also the broader precinct. This curated approach to tenancy selection has been fundamental to the area's success, creating a cohesive and aspirational environment that consistently draws customers and operators alike.

Tenant demand in James Street extends well beyond the core retail strip. Interest has been steadily growing in adjoining streets such as McLachlan, Wandoo, and Doggett, reflecting both the limited supply of opportunities on James Street itself and the broader desire for association with the precinct's brand. Many of these secondary locations are now seen as extensions of the James Street experience, with tenants willing to adapt their business models to be part of the area's high-profile ecosystem.

From an agency perspective, even enquiries originating from outside the precinct frequently circle back to James Street, highlighting its unmatched reputation among retailers, hospitality operators, and showroom tenants. Landlords here benefit from the dual advantages of strong off-market interest and the leverage to secure the best possible tenant mix, ensuring the precinct continues to perform as Brisbane's most desirable commercial destination.

Key Takeaways

Fortitude Valley remains one of Brisbane's most dynamic commercial markets, with each precinct offering distinct opportunities:

• Brunswick Street Precinct - High turnover driven by hospitality and retail. Office vacancies take longer to fill, but well-fitted spaces and competitive rents attract tenants.
• Homemaker Precinct - Stable leasing with large-format retail and showrooms. Premium sites often lease off-market; office demand supported by parking, daytime amenity, and proximity to James Street.
• James Street Precinct - Extremely limited availability with a curated, premium tenant mix. Strong demand leads to off-market deals and rewards long-term, strategic leasing.

With Brisbane's urban renewal and the lead-up to the 2032 Olympics, landlords who adapt to each precinct's strengths and actively manage their properties are best positioned to maximise value.