房地产 -布里斯班工业园区报告 -2025 年第三季度 Brisbane Industrial Precincts Report - Q3 2025

Brisbane

knightFrank

IndustrialPrecincts

Q32025

Thisreportprovidesaprecinct-by-precinctquarterlyupdateoftheBrisbaneindustrialmarket

.au/research

2BRISBANEINDUSTRIALPRECINCTUPDATEmmQ32025

Yieldstightenedasinvestorsentimentimproved;landsalesdominatedrecentsaleturnover

5.58%

Superprimeyieldsdown7bpsinQ3;-20bpsy/y

5.89

Primeyield;

down14bpsq/q;

-27bpsy/y

6.35

Secondaryyield;down15bpsq/q;

-69bpsy/y

KEYTRENDS

•Industrialturnoverof$584m(sales$10m+)wasrecordedinQ3,downfromastrongQ2butabovelong-termaverages.Volumeswere

supportedbyincreasedlandsalesacrossseveralprecincts.

•Q3recordedtwolandsalesabove

$100m.575PumicestoneRd,

Caboolturesoldfor$140m(46.8ha,DAapprovedindustrialestate)andLot1PacificHighway,Coomerasoldfor$120m(53.9ha,DAapprovedforindustrialandmixeduseontheM1corridor).

•PrimeyieldsfirmedinQ3,down14bpsq/qto5.89%and27bpsy/y,

supportedbyimprovinginvestorsentimentforcorestock,aidedbylowerinterestrates.

•Secondaryyieldscontinuedto

contractinQ3,down15bpsq/qand69bpsy/yto6.35%,underpinnedbylandvaluesandsteadyprivate

investordemand.

BrisbaneIndustrialsalesvolumeouarterly,$million(sales$10m+)

source:knightFrankResearch,RCA

BrisbaneIndustrialyields%coremarketyield

superprimeprimesecondary

10%

5%

4%

3%

source:knightFrankResearch

Precinct

Property

Price$M

Sizesqm

$/sqm

Sitesqm

Purchaser

Vendor

Core

Market

Yield%

WALE

GreaterNorth

575PumicestoneRd,Caboolture

140.00

39ha*

359onNDA

46.87ha

BaseCapital

Goldfields

Landsale

n/a

SouthEast

Lot1Pacific

Highway,Coomera

120.00

Site

222onsite

53.99ha

VitaleProperty

Group&Metrics

CreditPartners

Private

Landsale

n/a

Trade

Coast

69RivergatePl,Murarrie

42.00

11,353

3,699

14,610

Clarence

Property

Centuria

IndustrialREIT

6.75

3.0

Trade

Coast

100-104MainBeachRd,

Pinkenba

31.80

1,010

785onsite

40,500

CosgroveGroup

GLBProperty

5.98

4.3

*NetDevelopableArea

3BRISBANEINDUSTRIALPRECINCTUPDATEmmQ32025

VacancyroseinQ3,withspeculativedevelopmentsboostingtake-upintheSouth.

5.4%

TotalvacancyrateQ3-25,up24bpsq/qand62bps

highery/y

41%

Ofcurrent

availabilityis

secondaryexistingstock

736k

SqmRTMleasingtake-upatQ3-25,11%lowery/y

KEYTRENDS

•VacancyroseinQ3-25,up43,112sqmtoarateof5.4%Totalvacancyis

now124,927sqmhighery/y,upfrom4.8%.TheSouthWestrecordedthegreatestquarterlyincrease,adding53,446sqmofmostlyprimestocktoreacharateof5.8%.

•Totalvacancygrowthforthe

quarterwasdrivenbysecondary

space,muchofthisbeingbackfillasnewdevelopmentsreached

completion.Secondaryassetsnowrepresent41%oftotalvacancy,withspeculativespacestillsignificantat

39%.

•Leasingactivityrose20%inQ3at

217,264sqm,thoughRTMtake-upwas11%lowery/yfollowingsloweractivityearlierintheyear.The

SouthprecinctdominatedQ3take-up,accountingfor62%oftotal

activity,withmostconcentratedinWillawongasspeculative

developmentswereabsorbed.

BrisbaneIndustrialvacancy'o00sqmbyprecinct

usouthusouthwestusouthEastUTradecoastuNorth&GreaterNorth

400

200

source:knightFrankResearch

Brisbaneleasingtake-upBytype,'o00sqm

uExistingupre-comuspeculative

400

350

200

source:knightFrankResearch

r-.,lsunl'lel

300-I

250

BRISBANEAVAILABLESPACE3,000SQM+Q3-2025

Availablespace

174,45882,179

316,711

194,71463,062

831,124

Quarterchange

21,623

+5

+53,446+19,044

+43,112

Tradecoast

North&GreaterNthsouth

southwest

southEastTotal

Annualchange

+39,478

+27,848

-29,380

+56,919

+30,062

+124,927

precinct

RECENTMAJORTENANTCOMMITMENTS

precinct

south

south

Tradecoast

Tradecoast

south

Area

14,116

12,858

6,124

FDMLogistics

Modscape

cargoTransportsystems

EastcoastcarRentals

P.EFoods*

NetRent$/sqm

150

u/d

165

250

Tenant

*precommitment

BRISBANEINDUSTRIALPRECINCTUPDATEmmQ320254

Quarterlytake-uplifted

inQ3,drivenbystrongspeculativeactivity

287k

SqmRTMleasingtake-up,down

9%y/y

4.4%

Y/Yprimefacerentalgrowthto$165/sqmnet

14.5%

PrimeIncentives150bpshighery/y.

Vacancywas

stableq/q,down93bpsy/y

253k

Sqmnewsupplyforecastfor

deliveryin2025

5.9

Prime16bps

tighterinQ3;down18bpsy/y

KEYTRENDS

•VacancyintheSouthwasstableinQ3,risingonlyby5sqmtoremainatarateof6.8%,butisdownfrom7.7%y/y.TheSouthcontinuestoholdthehighestvacancy,dominatedbysecondaryexistingand

speculativestock,whichmakeup43%and39%respectively.

•Primerentsgrew1.2%inq/q,4.4%highery/y,whilesecondaryrose0.4%q/qand2.5%y/y.Incentivesincreasedacrossbothprimeandsecondaryamidelevatedvacancy,bothup100bpsq/qto14.5%and16%respectively.

•Landvaluescontinuedtorise,with<5,000sqmlotsup2.6%q/qand14.3%y/y,and1-5hasitesup1.7%q/qand16.6%y/y.

•TheSouthrecordedthehighesttake-upamongtheprecinctsinQ3with134,968sqmrecorded.Take-upwaslargelyfocusedonexisting(65,222sqm)andspeculativestock(63,128sqm).

•Primeyieldscontracted16bpsinQ3andare18bpslowery/y,

supportedbystrongerinvestorsentiment.ThisisexpectedtobeconfirmedbythependingsaleofTheLinkat142SherbrookeRd,Willawong.

primesecondary

source:knightFrankResearch

southRents

$/sqmnetface

uoct-24aoct-25

200

158

150

165

143

139

southLandvalues$/sqmsite

1-5hasub-5,000sqm

500

300

source:knightFrankResearch

oct-22oct-23oct-24oct-25

source:knightFrankResearch

southvacancy%vacancybytype

uExistingAUExistingBUspeccompleteduunderconstruction

4%

2%

source:knightFrankResearch

southLeasingTake-up'o00sqmbytype,RTM

uExistinguspeculativeupre-com

350

300

250

200

150

10o

50

5BRISBANEINDUSTRIALPRECINCTUPDATEmmQ32025

Vacancyliftedto5.8%in

Q3duetoamixofnew

speculativeproductandsecondarybackfill

216k

SqmRTMleasingtake-up,up32%y/y

3.8

Y/Yprimefacerentalgrowthto$165/sqmnet

13%

Primeincentivesgrew100bpsinQ3;up100bpsy/y

5.8

Vacancyroseby160bpsq/q;up155bpsy/y

125k

Sqmnewsupplyforecastfor

deliveryin2025.

6.1%

Primeyield6bpslowerinQ3;down29bpsy/y

KEYTRENDS

•SouthWestvacancyrose53,446sqminQ3to5.8%,upfrom4.2%inQ2and4.3%ayearago.TheliftwasdrivenbyspeculativeprojectsatRedbankandBundamba,aswellassecondaryspacereturning,

takingspeculativevacancyto4.1%andsecondaryto4.3%.

•RentalgrowthintheSouthWestslowedoverQ3,withprimeup0.6%q/q;3.8%highery/yat$165/sqm,whilesecondarywassteadyq/q

and2.6%highery/yat$145/sqm.Incentivesrose100bpsforprimeto13%and50bpsforsecondaryto12.5%.

•RTMtake-upslowedinQ3butremains32%highery/y,supportedbystrongeractivityearlierintheyear.

•Landvaluescontinuedtogrow,withsub-5,000sqmlotsup22.0%y/yand1-5hasitesup16.5%y/y

•Primeyieldsfirmed6bpsinQ3to6.06%,29bpslowery/yinline

withthewidermarket.Secondaryyieldsalsotightened,now76bpslowery/yat6.37%.

primesecondary

source:knightFrankResearch

southwestRents$/sqmnetface

uoct-24uoct-25

159165141.3145

150

200

southwestLandvalues$/sqmsite

1-5ha——sub-5,000sqm

500

300

source:knightFrankResearch

southwestLeasingTake-up

'o00sqmbytype,RTM

uExistinguspeculativeupre-com

300

250

200

150

oct-22oct-23oct-24oct-25

source:knightFrankResearch

southwestvacancy%vacancyratebytype

uExistingAUExistingBUSpeccompleteduunderconstruction

10%

4%

2%

source:knightFrankResearch

BRISBANEINDUSTRIALPRECINCTUPDATEmmQ320256

southEastRents$/sqmnetface

uoct-24uoct-25

primesecondary

source:knightFrankResearch

i6o162145145

200

150

Landmarketcontinues

tosurge,duetodemandfromGoldCoastusersandowneroccupiers

46k

SqmRTMleasingtake-up,down

38%y/y

1.3%

Y/Yprimefacerentalgrowthto$162/sqmnet

12.5%

Incentivesup

150bpsq/q;

50bpshighery/y

southEastLandvalues$/sqmsite

——1-5hasub-5,000sqm

500

300

source:knightFrankResearch

Vacancyup

90bpsq/q;

169bpshighery/y

49k

Sqmofnewsupplyduein2025

southEastLeasingTake-up'o00sqmbytype,RTM

uExistinguspeculativeupre-com

source:knightFrankResearch

6.1%

Primeyields

down9bpsinQ3,18bpslowery/y

KEYTRENDS

•SouthEastvacancyrose19,044sqminQ3to3.7%,up109bpsq/qand169bpsy/y.Theincreasewasinprimestock,now4.1%vacant(2.7%existing,1.4%speculative),whilesecondaryvacancyheld

steadyat3.1%.

southEastvacancyvacancyRatebytype

uExistingAUExistingBUspeccompleteduunderconstruction

4%

3%

2%

source:knightFrankResearch

•SouthEastprimerentsgrew1.3%q/qandy/yto$162/sqmafteraperiodofstability,whilesecondaryrentsheldat$145/sqm.Primeincentivesrose150bpsto12.5%,withsecondarysteadyat10%.

•StrongdemandfromtheGoldCoastandlimitedsupplycontinuetodrivelandvalues,withsub-5,000sqmlotsreaching$930/sqm(up

25.7%y/y)and1-5halotsrisingto$787/sqm(up39.3%y/y).Thiswasunderscoredbythe$120msaleofLot1PacificHighway,Coomera,a12haDA-approvedsiteforindustrialandmixeduse,equatingto

$222/sqm.

•Followingthesignificantsaleof90QuinnshillRdinQ2,therewasnomajorsaleinQ3.Nevertheless,inthelinewiththewidermarket,primeandsecondaryyieldscontractedinQ3to6.05%and6.48%.

BRISBANEINDUSTRIALPRECINCTUPDATEmmQ32025

Leasingactivity

impactedbythelackofexistingprimespace

available

155k

SqmRTMleasingtake-up,down

27%y/y

7.2%

Y/Yprimefacerentalgrowthto$209/sqmnet

Primeincentivesup100bpsq/q;

100bpshighery/y

4.4%

Vacancyfell

62bpsq/q;81bpshighery/y

195k

Sqmnewsupplyin2025;up28%from2024

5.6

Primeyielddown24bpsq/q;31bpslowery/y

KEYTRENDS

•Vacancyfell21,623sqmoverthequarter,toarateof4.4%,down

62bpsq/q,markingthefirstquarterlydecreasesincethestartoftheyear.PrimevacancyintheTradeCoastfell75bpsto3.9%,

comprisingofexistingstockatarateof1.5%(down48bps)andspeculativeavailabilityat2.3%(down27bps).Existingsecondaryvacancyishigherat5.0%.

•Quarterlytake-uproseto59,355sqm,thoughRTMwas27%lowery/yafterasofterstarttotheyear.Activitywasfocusedonexistingstock,includingCargoTransportSystems(10,000sqmat7LitseaSt,

BrisbaneAirport)andmultipledealsat448NudgeeRd,Hendra.

•Primerentsgrew1.5%inQ3to$209/sqm,up7.2%y/y.Secondaryrentswerestableat$177/sqm,up7%y/y.Incentivescontinuedtoriseaslandlordssoughttopreservehigherfacerents.

•Landvaluesremainedunderstrongupwardpressureamidscarce

supply.Sub-5,000sqmlotsrose17.4%q/qand45.5%y/y,while1-5hasitesincreased16.3%y/y.

•Primeyieldsfirmedby24bpsinQ3(down31bpsy/y);secondaryyieldstightened22bpsto6.17%(down46bpsy/y).

TradecoastRents$/sqmnetface

uoct-24uoct-25

150

primesecondary

source:knightFrankResearch

200

250

TradecoastLandvalues$/sqmsite

——1-5hasub-5,000sqm

1,350

1,150950750550350

150

source:knightFrankResearch

oct-22oct-23oct-24oct-25

source:knightFrankResearch

Tradecoastvacancy%vacancybytype

uExistingAUExistingBUspeccompleteduunderconstruction

5%

4%

3%

2%

source:knightFrankResearch

TradecoastLeasingTake-up'o00sqmbytype,RTM

Existingspeculativepre-com

350

300

250

200

150

100

50

BRISBANEINDUSTRIALPRECINCTUPDATEmmQ320258

North&GreaterNorthRents$/sqmnetface

uoct-24uoct-25

182

175

150

75

50

25

o

primesecondary

source:knightFrankResearch

163148159

125

200

Vacancyremains

concentratedin

speculativespacewithnoprimeassetsofscalecurrentlyavailable

33k

SqmRTMleasingtake-up,down

49%y/y

Y/Yprimefacerentalgrowthto$182/sqmnet

13.5%

Incentivesup

100bpsinQ3;

100bpshighery/y

4.7%

North&GreaterNorthLandvalues$/sqmsite

——1-5hasub-5,000sqm

950750550350

150

source:knightFrankResearch

Vacancydown44bpsq/q;

151bpshighery/y

10ok

Sqmnewsupplyforecastfor2025

NorthLeasingTake-up'o00sqmbytype,RTM

uExistinguspeculativeupre-com

source:knightFrankResearch

5.8%

Primeyielddown15bpsinQ3;

38bpslowery/y

KEYTRENDS

•VacancyinBrisbane’sNorthfell7,760sqminQ3to4.7%,with

availabilityremaininglimitedacrosstheprecinct.Vacancyis

dominatedbyspeculativestock(75%),withthebalancein

secondary.Primeexistingoptionsarescarce,mostly<3,000sqm.

North&GreaterNorthvacancy%vacancybytype

uExistingAUExistingBUspeccompleteduunderconstruction

5%

4%

3%

2%

source:knightFrankResearch

•RTMleasingtakeupisdown49%y/yinQ3amidsubduedactivity,withmosttransactionsinvolvingsmallerdealsunder3,000sqm.

•RentalgrowthcontinuedinQ3,withprimeup3.4%q/qand11.7%y/y,andsecondaryup2.6%q/qand7.4%y/y.Primeincentivesrose100bpsto13.5%(also100bpshighery/y),whilesecondaryheldat10%,down250bpsy/y

•Landvalueappreciationremainsstronginthenorthernprecinctswithlotsunder5,000sqmup29.2%y/yat$840/sqmand1-5halotsaveraging$705/sqm,upby22.6%overtheyear.

•PrimeyieldstightenedinQ3,falling15bpsovertheyearto5.80%,whilesecondaryyieldsalsotighteningby23bpsto6.40%,88bpssharpery/y.

DataDigest

primeGrade:Assetwithmoderndesign,goodcondition&utilitywithanofficecomponent1030%.Locatedinanestablishedindustrialprecinctwithgo0daccess.

secondaryGrade:Assetwithanolderdesign,inreasonable/poorcondition,inferiortoprimestock,withanofficecomponentbetween10-20%.

Take-up:Forthepurposesofthisvacancyreporttakeuprepresentsonlytheabsorptionofexistingassetsorspeculativedevelopments,itexcludesprecommitmentsorD&cagreements.

vacancyMethodology:

Thisanalysiscollectsandtabulatesdatadetailingvacancies(3,000m2+)withinindustrialpropertiesacrossalloftheBrisbaneIndustrialpropertyMarket.Thebuild