Figures Brisbane Industrial and Logistics 1Q24

Key Points:

• Gross take-up activity fell 34% Q-o-Q, totalling c.104,000 sqm.

• New floorspace added to the market in 1Q24 totalled c.136,000 sqm, down 37% Q-o-Q. The CY2024 pipeline is expected to total c.800,000 sqm, with 32% of this floorspace pre-committed.

• Brisbane’s industrial rents continued to grow in 1Q24, with high demand and vacancy remaining tight. Super prime, prime and secondary net face rents increased by 2.7%, 3.0% and 3.5% (Q-o-Q), respectively.

• Land values for 0.25 ha and 1.6 ha lots recorded upward movements, increasing by 0.54% and 15% Q-o-Q, respectively. Most of this growth was contributed within the Outer South and Western Corridor precincts.

• Investment transaction volumes in Brisbane’s industrial market totalled AUD 155 million (for transactions ≥ AUD 5 million).

• Yields have remained unchanged in the quarter– with the midpoint yield in 1Q24 for super prime assets remaining at 5.83% across the Brisbane market.