房地产 -2025年下半年澳大利亚工业物流职位空缺报告 Australia Industrial Logistics Vacancy Report H2 2025

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IntelligentInvestmentAustraliaIndustrialandLogisticsVacancH25

3CBRERESEARCH©2025CBRE,INC.

IntelligentInvestmentAustraliaIndustrialandLogisticsVacancy2H25

4CBRERESEARCH©2025CBRE,INC.

H12025commencedwithanotableupliftinoccupier

enquirycomparedwith2024;however,thisdidnot

consistentlytranslateintorelocations.Formostoccupiers,therequirementforadditionalspacewasfrequently

outweighedbythecost,operationaldisruptionand

executionriskassociatedwithrelocating.Asaresult,

demandhasremainedselective,withoccupiersprioritisingefficiencygainsoverexpansion.

TransactionalactivityliftedincrementallyinQ2across

mostmarkets,althoughrenewalscontinuedtodominate,accountingformorethan85%ofleasingactivityinmanylocations.wheretransactionshaveoccurred,theyhave

largelybeendrivenbylandlordspreparedtooffermore

competitivecommercialterms,includingenhanced

incentives,earlyaccess,andincreasedfit-out

contributions.Thisdynamicisexpectedtopersistinto

2026asownersincreasinglyacknowledgethatdepthof

demandismoreconsistentwitha'normalised'market

environment.secondary-gradeassets,inparticular,are

expectedtoremainunderpressure,withincentives

pushingbeyondlong-termaveragesastheycompetewithnewer,moreefficientstock.

Facerentshavegenerallyremainedresilient,particularlyforsuperprimeassetsunder7,000sqm,withpocketsofrentalgrowthevidentinsub-3,000sqmformats.while

newdevelopmentshaveachievedexamplesofrental

growth,thishasalmostinvariablybeenaccompaniedbyelevatedincentives.Letting-upperiodshaveextended

acrossmostmarketstobetweenthreeandsixmonths,

withinstancesofupto12monthswhereownershave

beenunwillingtoadjustpricingexpectations.super-primeprecincts,includinglocationssuchaskempscreek,havecontinuedtooutperformasoccupiersmaintainaclear

flight-to-qualitybias.

subleaseavailabilityhaseasedinseveralmarkets,withmanylargersubleaseofferingsbeingabsorbedby

occupiersseekingtoconsolidateintonewer,more

efficientfacjilities.Thishasreducedsubleasestockasamaterialsourceoffuturesupplyrisk.

Landvalueshaveremainedbroadlystable,underpinned

bytheongoingshortageofservicedindustriallandacrossmostmarkets.Tightlandsupplyhashelpedkeepvacancyrateslowandhasprovidedsupporttocurrentpricing

levels.whilethepacificIndustrial&Logisticsmarketisfirmlyoperatingwithinanormalisedphaseintermsofannualtake-up,weexpectgradual,incremental

improvementtocontinuethrough2026,supportedbyeasingsubleasepressure,constrainedlandsupplyandsustainedpreferenceforhigh-qualityassets.

Michaelo'Neill

RegionalDirector,pacificIIndustrial&LogisticsandManagingDirectorof

westernsydney

FIGURE1

AveragevacancyRatebycity,2H25vs.1H25

source:CBREResearch

©Copyright2025.Allrightsreserved.Thisreporthasbeenpreparedingoodfaith,basedonCBRE’scurrentanecdotalandevidencebasedviewsofthecommercialrealestatemarket.AlthoughCBREbelievesitsviewsreflectmarketconditionsonthedateofthispresentation,theyaresubjectto

significantuncertaintiesandcontingencies,manyofwhicharebeyondCBRE’scontrol.Inaddition,manyofCBRE’sviewsareopinionand/orprojectionsbasedonCBRE’ssubjectiveanalysesofcurrentmarketcircumstances.Otherfirmsmayhavedifferentopinions,projectionsandanalyses,andactualmarketconditionsinthefuturemaycauseCBRE’scurrentviewstolaterbeincorrect.CBREhasnoobligationtoupdateitsviewshereinifitsopinions,projections,analysesormarketcircumstanceslaterchange.

NothinginthisreportshouldbeconstruedasanindicatorofthefutureperformanceofCBRE’ssecuritiesoroftheperformanceofanyothercompany’ssecurities.Youshouldnotpurchaseorsellsecurities—ofCBREoranyothercompany—basedontheviewsherein.CBREdisclaimsallliabilityforsecuritiespurchase