The Brisbane CBD Sublease report

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The latest Colliers International Brisbane CBD Sublease Report provides key insights on the current Brisbane CBD Sublease Market.

 

Kelly Moon comments on the key findings:
“The availability of sublease space in the Brisbane CBD continues to decline, with just on 41,700sqm available as at May 2017. This represents a decrease of 11,000sqm in under 12 months and mirrors the positive net absorption of the wider CBD office market. The resource sector still dominates, accounting for about 45% of the total available sublease space. There are still some attractive sublease opportunities out there, with the majority of the available space in the prime grade buildings within the Golden Triangle, offered at a significant discount compared to direct space.”

 

Summary of the report:

  • A total of 41,702sqm of available sublease stock – a decrease from 52,681sqm in July 2016
  • Weighted average term of 3.8 years
  • 71% of total sublease stock is within the Prime sector (Premium & A grade)
  • 45% of total sublease stock is from Mining & Energy occupiers
  • 66% of total sublease stock is within the Golden Triangle
  • Average sublease size = 1,303sqm
  • Median sublease size = 825sqm
  • Asking sublease rent is discounted at an average of 43% compared to direct space however transactions can be discounted even further