> **来源：[研报客](https://pc.yanbaoke.cn)** ```markdown # Brisbane CBD Full Floors Summary - Q1 2026 ## Core Content Overview This document provides an analysis of full and contiguous floor availability in the Brisbane CBD as it transitions into a period of lower supply. It highlights the current and future supply of office space, tenant behavior, fitout trends, and the impact of new developments on the market. ## Key Market Statistics ### Current Full Floor Vacancy - **Total vacant full and contiguous floors**: 148 (up from 112 a year ago) - **Prime floors**: 58 (47% of total) - **Premium floors**: 12 (only 58% of total) - **NABERS rating**: 81% of available full floors have a rating of 5 or higher - **Office assets with 5.5 star rating**: 96,210sqm - **Office assets with 5.0 star rating**: 91,837sqm ### Full Floor Availability by Size - **Prime floors (1,000–1,500sqm)**: 40 floors (69% of prime availability) - **Prime floors (>1,500sqm)**: 33% of prime floors available by 2028 - **Secondary floors**: 86 floors (69,200sqm), with some contiguous options available ### Full Floor Availability by Precinct | Precinct | Currently Available | Remain 2026-2028 | |------------------|---------------------|----------------| | Financial Triangle | 50 floors | 65 floors | | North Quarter | 35 floors | 5 floors | | Uptown | 25 floors | 5 floors | | Retail | 15 floors | 15 floors | | Midtown | 10 floors | 0 floors | | Government | 10 floors | 0 floors | ### Full Floor Take-Up in 2025 | Category | Prime | Secondary | |------------------------------|-------|-----------| | Leased as multiple floors | 48 | 2 | | Leased as single floor | 23 | 13 | | Split into smaller tenancies | 8 | 7 | | Withdrawn or expired sublease | 11 | 0 | | Other | 2 | 0 | ### Fitout Type Distribution (2025) | Category | Percentage (%) | |----------------|----------------| | Existing | 48 | | Refurb Existing | 3 | | Spec Fitout | 4 | | 2nd gen spec | 1 | | Warm Shell | 14 | | Cold Shell | 30 | ## Main Points ### New Supply and Market Impact - Two major CBD buildings completed in 2025: **Mid-year 2025 - 202 North Quay** and **Late 2025 - 360 Queen St** - These buildings were **pre-committed to tenants**, limiting immediate opportunities for new tenants to secure space - **Backfill space** from tenant relocations has provided relief to the market ### Future Supply Outlook - **Prime full floors available from now to 2028**: 33% are 1,500sqm+ (mainly triggered by Waterfront North completion in late 2028) - **Premium vacancy rate** rose to 8.2% in January 2026 from 3.8% in July 2025 - **Contiguous space** is limited until late 2028, with only a few large spaces available in the interim ### Tenant Behavior and Preferences - Larger tenants are seeking space with **1,600sqm+ floorplates** due to evolving preferences for task-based, collaborative, and meeting/AV workspaces - **Renewal activity** is ongoing as tenants extend current terms to focus on long-term relocation and workplace refresh ### Secondary Floor Market - Secondary full floors are more **project-based** and suitable for smaller users - Some larger secondary tenants (e.g., administration-based) are emerging due to major development and infrastructure projects ### Market Trends and Challenges - **Fitted space** dominates full floor take-up (55% of space leased in 2025), up from 51% in 2024 - **Capital constraints** and rising fitout costs influence tenant decisions - The market will be limited to **refurbished projects** until late 2028 ## Conclusion The Brisbane CBD office market is experiencing a temporary increase in full and contiguous floor availability due to recent completions. While the prime market has a higher concentration of larger floorplates, most are not available until late 2028. Secondary floors offer more immediate options but are generally smaller and less suited for larger tenants. The trend towards fitted spaces and the need for long-term planning are shaping the market dynamics. As the supply of quality space diminishes, the competition for available floors is expected to intensify. ## Contact Information ### Research & Consulting - **Jennelle Wilson**: +617 3246 8830 | [Jennelle.Wilson@au.knightfrank.com](mailto:Jennelle.Wilson@au.knightfrank.com) - **Lewis Parker-Wilkin**: +617 3516 8801 | [Lewis.ParkerWilkin@au.knightfrank.com](mailto:Lewis.ParkerWilkin@au.knightfrank.com) ### Office Leasing - **Mark McCann**: +617 3246 8853 | [Mark.mcCann@au.knightfrank.com](mailto:Mark.mcCann@au.knightfrank.com) - **Sam Mountford**: +617 3246 8882 | [Sam.Mountford@au.knightfrank.com](mailto:Sam.Mountford@au.knightfrank.com) - **Jamie Nason**: +617 3246 8841 | [Jamie.Nason@au.knightfrank.com](mailto:Jamie.Nason@au.knightfrank.com) - **Lily Greenaway**: +617 3246 8868 | [Lily.Greenaway@au.knightfrank.com](mailto:Lily.Greenaway@au.knightfrank.com) - **Iggy Rotondo**: +617 3246 8869 | [Iggy.Rotondo@au.knightfrank.com](mailto:Iggy.Rotondo@au.knightfrank.com) ```