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Brisbane CBD snapshot : looming supply to keep vacancy elevated - Q4 2014

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A research produced by DTZ

Limited supply has been added to the Brisbane CBD market over the past two years. New supply in 2014, at less than 5,000 sq m, was well below the 10-year average of approximately 65,700 sq m . Although many projects are “shovel ready” or have commenced limited site works, lack of sufficient pre-commitments have held back their formal commencement.

Currently there are only three projects under construction, with 180 Ann Street (59,000 sq m), which was initiated as a speculative building by Daisho, expected to be the first to be completed in Q4 2015. This project has received its first tenant, with Commonwealth Bank of Australia pre-committing to 10,500 sq m. The two other projects (480 queen Street and 1 William Street) are anticipated to add a further 130,404 sq m in 2016.

Source : DTZ

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Keywords : DTZ