2026-07-10-莱坊-Brisbane_CBD_Office_State_of_the_Market_Q2_2026_2页_878kb

Brisbane CBD State of the Market Summary

Core Market Overview (Q2 2026)

Investor and Tenant Focus

• Prime Assets: Investors and tenants are primarily focused on prime assets in the Brisbane CBD.
  • Prime gross effective rents grew by 7.3% annually in Q2-26, showing a moderation from the previous year but still significantly above the 10-year average of 4.5%.
  • Prime incentives remained stable at 37.5% in Q2-26 but are on a downward trend.
• Secondary Assets: Secondary gross effective rents increased by 6.9% annually, with incentives stable at 39.0%.
• Yields: Both prime and secondary yields were stable in Q2-26, influenced by deep investor demand and higher cost of funds alongside global uncertainty. The 10-year bond yields showed a slight moderation in recent weeks.

Market Outlook

• New Supply: There will be no new office supply in 2026. The next additions will be two refurbishment projects in 2027.
• Future Projects: The Waterfront North project is expected to be completed in H2 2028, after which 2030-2032 will see the emergence of a new round of developments.

Recent Sales Activity

• 100 Creek St: Sold for $169.3m at $8,465/sqm, with a 7.95% yield and a WALE of 2.8 years. Purchaser: PAG/Cromwell, Vendor: Cromwell DPF, Sale date: Jun-26.
• 280 Elizabeth St: Transaction ongoing, with site price and site WALE pending. Purchaser: Cbus, Vendor: Firmus Capital, Sale date: May-26.
• 150 Charlotte St: Sold for $40.00m at $3,611/sqm, with a VP yield and VP WALE. Purchaser: Dexus REP 4, Vendor: Australian Unity Office Fund, Sale date: May-26.
• 60 Albert St: Sold for $179.00m at $8,468/sqm, with a 7.58% yield and WALE of 6.2 years. Purchaser: Ashe Morgan, Vendor: Dexus Wholesale Property Fund, Sale date: Mar-26.

Major Developments

Property	Precinct	NLA (sqm)	Pre-commit (%)	Status	Completion Date
450 Queen St	Financial	17,265	-	Under Construction	H1 2027
150 Charlotte St	Midtown	11,076	-	Mooted	H2 2027
Waterfront North	Financial	73,000	71	Under Construction	H2 2028
280 Elizabeth St	Financial	c30,000	-	Pre-lodgement	2030
60 Queen St	North Qtr	c27,000	40% reported	Development Approval	2030
101 Albert St	Midtown	53,116	58	Development Approval	2031

Tenant Activity

• Legal Services: Dominant tenant sector, including:
  • Architectural, Engineering and Technical Services
  • Other Professional Services

Contact Information

• Office Leasing: Mark McCann, +61732468853, Mark.mccann@au.knightfrank.com
• Capital Markets:
  • Justin Bond, +61732468872, Justin.bond@au.knightfrank.com
  • Matt Barker, +61 7 3246 8810, Matthew.barker@au.knightfrank.com
  • Blake Goddard, +61732468848, Blake.goddard@au.knightfrank.com
• Tenant Representation: Jonathan Scott, +61732648836, Jonathan.Scott@au.knightfrank.com
• Research & Consulting: Jennelle Wilson, +61 7 3246 8830, Jennelle.wilson@au.knightfrank.com