Demand hit over 100,000sqm during the quarter.
According to a report from Dexus Research, demand in South Brisbane doubled over the second quarter, with 105,000 sqm let compared to 50,000 sqm in Q1. Dixie Cummings, a wholesale retailer, leased 25,000 sqm in Staplyton followed by Toll transport a logistics and transport company who leased 20,000 sqm in Heathwood. The Australian Trade Coast (ATC) saw a constrained amount of demand in the quarter.
“Supply was highest in the South with 117,000 sqm of new stock completed, followed by 35,000 sqm in the ATC. Prime net face rents grew in Q2 by 1.45% and are now up 9.7% y-o-y for the South. Net face prime rents were up 1.9% qoq in the ATC and 6.6% y-o-y. Vacancy is highest in the South sitting at 6.7% and 2.9% in the ATC,” the report said.
