Brisbane’s fringe office market has been one of stabilisation and a “flight to quality” over the last 6 months, as overall vacancy rates improve and annual rents hold. According to Property Council of Australia’s (PCA) July edition of the Office Market Report, overall vacancy levels declined by 0.5% through the six months to July 2021. ‘A’ grade stock performed the best, recording a decrease in vacancy levels of 0.8%, while ‘B’ grade stock went against the trend, recording an increase of 0.4%. ‘A’ Grade rental rates are generally around $550/m² to $600/m² gross face per annum with secondary stock generally around $350/m² gross face per annum.
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.
*Disclaimer: This article is for general information 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. If there are any issues you would like us to discuss with us arising from this article, please contact us*