> **来源：[研报客](https://pc.yanbaoke.cn)** # 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](mailto:Mark.mccann@au.knightfrank.com) - **Capital Markets**: - Justin Bond, +61732468872, [Justin.bond@au.knightfrank.com](mailto:Justin.bond@au.knightfrank.com) - Matt Barker, +61 7 3246 8810, [Matthew.barker@au.knightfrank.com](mailto:Matthew.barker@au.knightfrank.com) - Blake Goddard, +61732468848, [Blake.goddard@au.knightfrank.com](mailto:Blake.goddard@au.knightfrank.com) - **Tenant Representation**: Jonathan Scott, +61732648836, [Jonathan.Scott@au.knightfrank.com](mailto:Jonathan.Scott@au.knightfrank.com) - **Research & Consulting**: Jennelle Wilson, +61 7 3246 8830, [Jennelle.wilson@au.knightfrank.com](mailto:Jennelle.wilson@au.knightfrank.com)