The Property Council of Australia has highlighted a significant growth in buyer activity in Brisbane's office sector during the first half of 2012.
Knight Frank's Brisbane Near City Office Market Overview report revealed more than AU$600 million of investment in the sector for 2011-12, with an increase in turnover of AU$186 million in sales.
The largest single transaction of the period was the AU$88.5 million purchase of 144 Montague Road in south Brisbane by Hines Global REIT, the report stated.
Earlier this month, the latest CBD Office Research & Forecast Report from Colliers International highlighted an AU$2.4 billion investment in the construction of new office space across Australia during the year so far.
"Across the board, we are seeing soft tenant demand in our CBD office markets, but this is not being reflected in investment demand, which, in general, is very strong," commented John Marasco, Colliers International managing director of investment services.
Posted by Craig Francis