BRISBANE TOPS ASIA-PACIFIC FOR PRIME OFFICE RENTAL GROWTH
Knight Frank reports 14.1% annual increase as demand for high-grade space surges.
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Brisbane has recorded the highest prime office rental growth in the Asia-Pacific region, with a year-on-year increase of 14.1%, according to new data from Knight Frank’s Q2 2025 Office Highlights report.
The report shows Brisbane’s growth outpaced all 23 tracked cities, ahead of Seoul (8.2%) and Bengaluru (7.9%). Quarterly, Brisbane rents rose 3.2%, trailing only Mumbai (3.5%) and Bengaluru (3.2%).
Knight Frank Partner Research and Consulting Jennelle Wilson said a lack of supply would continue to underpin prime rental growth in Brisbane’s CBD.
“The two new buildings entering the market this year will leave backfill space for lease, but little new space remains available, and no additional new supply is expected before late 2028,” Wilson said.
“Refreshed stock such as 140 Elizabeth St (9,908sqm) and 70 Eagle St (11,467sqm, 50% committed) will be available from mid-year.”
Wilson said no refurbishment projects would complete in 2026, with 450 Queen St (17,265sqm), a full building refurbishment, expected back online in H1 2027.
“The five-year forecast effective annual growth rate for Brisbane rents is 6.5%,” she said.
Knight Frank Head of Office Leasing Queensland Mark McCann noted a potential uplift in tenant movement.
“In Q2, lease volumes for tenant relocations remained low, with the exception being the sub 500sqm band, where tenants still have a large range of new and recycled fitted options to consider,” he said.
“However, we expect renewed focus from large corporate occupiers considering pre-commitments to new developments over the next six months as occupiers contemplate their new workplace environments and future needs from 2028 onwards.”
Knight Frank also forecast that Brisbane, Perth and Sydney would see further rental increases over the next year, while Melbourne rents were expected to remain stable.
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The new Brooklyn Tower, a mix of luxury condos and rentals, rises from the historic Dime Savings Bank building.
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Listing of the Day
Location: Downtown Brooklyn, New York
Price: $16.75 million
Boasting 360-degree panoramic views across New York City, this new 92nd-floor penthouse is the highest residence in Brooklyn.
The full-floor apartment stands atop the new Brooklyn Tower, which encompasses 143 condos and 398 rentals in the heart of downtown Brooklyn, said Katie Sachsenmaier, senior sales director, Corcoran Sunshine Marketing Group.
The condos begin on the 53rd floor, and the penthouses begin on the 88th floor. This one, Penthouse 92, is the only full-floor penthouse.
“The building is coming into its own now,” she said. “It feels very busy when you step into the lobby.”
Developed by Silverstein Properties, the building at 85 Fleet Street rises from the historic Dime Savings Bank building, according to a news release.
It was designed by SHoP Architects with interiors curated by Gachot Studios, and it is the borough’s only super tall skyscraper.
Penthouse 92 features custom interiors by Brooklyn-based Susan Clark of design firm Radnor, Sachsenmaier said. “Her selections have made it really beautiful. It feels very warm and inviting.”
Architectural details include 12-foot ceilings, European white oak floors in a custom honey stain, mahogany millwork, bronze detailing and floor-to-ceiling windows.
The eat-in kitchen features Absolute Black stone countertops, an island with seating, oil-rubbed bronze Waterworks fixtures and integrated Miele appliances, according to the listing.
The primary en suite bathroom showcases large-format Honed Breccia Capraia marble. There is also a separate laundry room as well as a wet bar and a butler’s pantry.
The views are spectacular, Sachsenmaier said. “If you’re standing in the living room, you take in the Statue of Liberty and all the way up through Midtown. On a clear day, you can see the planes take off at LaGuardia (Airport).”
Photo: Sean Hemmerle
Moving around the apartment, you see south over the harbor and then north and east over the whole city, she said.
From the front door, “you’re immediately greeted with the expansive living room and the view,” she said. “It’s really the first thing you see.”
The primary suite features a dressing room, multiple walk-in closets, two bathrooms (one with a cedar sauna) and southwest-facing windows, Sachsenmaier said. “You get those really beautiful harbour views.
The amenities will be ready by the end of summer, she said. A Life Time club will occupy the entire sixth and seventh floors, and an outdoor pool deck wraps around the dome of the bank building.
Stats
The 5,891-square-foot home has four bedrooms, five full bathrooms and one partial bathroom.
Amenities
Residents will have access to over 100,000 square feet of exclusive indoor and outdoor leisure spaces.
Fitness company Life Time will manage an array of amenities that include a 75-foot indoor lap pool, outdoor pools, a poolside lounge and atrium, a billiards room, a library lounge, a conference room, a theatre with a wet bar, a children’s playground and playroom and limited off-site parking.
The Sky Park offers an open-air loggia with a basketball court, foosball, a playground and a dog run.
Photo: Gabriel Saunders
Neighbourhood Notes
Downtown Brooklyn is at the centre of a number of neighbourhoods, including Fort Greene, Cobble Hill, Boerum Hill and Brooklyn Heights. The tower has access to 13 subway lines, 11 commuter trains, the city’s ferry network and 22 Citi Bike stations.
“You can walk to Fort Greene Park in less than 10 minutes,” and Dekalb Market Hall, which has a Trader Joe’s, a Target and a food hall, is “right next door,” Sachsenmaier said.
Agent: Katie Sachsenmaier, senior sales director, Corcoran Sunshine Marketing Group
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