Adelaide CBD Office Figures Q4 2025

Key Points:

• Total enquiry volume (sqm) of c.55,000 sqm was recorded across Adelaide’s office market during 4Q25, easing from the c.65,000 sqm in 4Q24. The number of enquiries received in the quarter totalled 125, 12% higher than 4Q24
• For 2H25 net absorption eased to 10,697 sqm, down from 22,606 sqm in the same period in 2024. Net absorption for CY2025 totals 33,023 sqm, significantly above the 10-year annual average of c.15,500 sqm.
• The Adelaide CBD overall vacancy rate as of January 2026 was at 15.5%, increasing from the 15.0% rate in July 2025.  
• 50 Franklin Street reached completion in 2H25, adding 21,412 sqm and increasing the vacancy.
• Prime gross rents ended 2025 at an average of $655 per sqm, increasing by 0.4% q-o-q  and 3.7% y-o-y. Prime incentive rates remained stable q-o-q averaging 35%.
• 2025 investment transaction volumes reached c.$263 million across Adelaide’s office market below the 10-year annual average of c.$555 million.
• As of 4Q25 prime CBD midpoint yields sit at 7.75% and secondary at 9.5%.