Brisbane Commercial Office Rent Update


Commercial property in Queensland is experiencing significant shifts, with CBD office rents poised to surge alongside Australia Post's substantial investment of $50 million in a cutting-edge airport parcel facility. The demand for prime office space in CBD towers is intensifying, driving rental rates to new heights, with premium building rents hitting the $1,000/m2 mark and inching closer to $1,100/m2. Brisbane's CBD vacancy rate, although slightly increasing to 11.7%, is witnessing a migration of tenants from secondary precincts to core locations. However, with construction costs soaring and timelines extending, new office developments are becoming scarce, with no new buildings expected until the end of the decade.