The level of available space within the Brisbane Industrial market has decreased for the fourth consecutive quarter to now sit at 621,616m,² according to Knight Frank's Brisbane Industrial Vacancy Analysis - July 2016 report.
The reduction over the past quarter represented a 2.3% fall, with the total available space now 10.9% lower than a year ago. Prime vacancy decreased by 15.0% over the quarter off the back of strong take-up and limited new additions. In contrast, secondary space increased by 9.9% with all of the additions to vacant space over the quarter categorised as secondary. Completed speculative development accounts for 11% (69,452m²) of the total vacancy with speculative space under construction sitting at 2% with no building commencements in the quarter, however there are two larger projects at earthworks stages which are expected to progress in the short term. Total speculative stock has stabilised over the past year with new additions generally being balanced by leasing activity.