Dexus Sees Positive leasing momentum in Brisbane CBD

10 March 2021

Business confidence in the Queensland capital is on the rise, with Dexus securing a large volume of leasing deals across its Brisbane office portfolio.

Matthew Miller, Dexus General Manager, Queensland and Project Leasing – Office said: “We have seen new and existing office customers commit to longer lease terms which is a positive signal that businesses in Brisbane are optimistic about the future.” 

Over the past six months, Dexus has transacted 27 leasing deals across 9,311 square metres, all commencing in CY2021, at several assets including 12 Creek Street, The Annex, 10 Eagle Street, Waterfront Place and 145 Ann Street.

Key leasing activity included: 

  • renewing HDR across 877 square metres at 12 Creek Street 
  • renewing a major software company across 612 square metres at Waterfront Place 
  • renewing AVID Property Group across 322 square metres which included an additional 150 square metres at 10 Eagle Street 

The weighted average lease term across the deals transacted was 4.6 years with 21 deals representing commitments from new customers.

Our Views

Dexus are closing in on the $4bn-plus AMP Capital Diversified Property Fund and todays new from Dexus is likely aimed at AMP Capital’s investors base as a merger with the Dexus Wholesale Property Fund is currently being pulled apart.

The Dexus WPF has exposure to 12 Creek Street Brisbane, Waterfront Place and 10 Eagle Street.

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