There are a lot of empty shops in the CBD, but two factors could be turning the tide
About 18.3 per cent of all CBD sites in Brisbane – almost one in five – are unoccupied, according to new data from commercial real estate services company CBRE.
In the NSW capital, that figure is just 5 per cent. In Melbourne, it's 6.9 per cent.
But despite the high number of vacancies in Brisbane, the rate has been consistently ticking down since COVID.
'Particularly when we compare it to other east coast cities, office attendance in Brisbane is super strong,' said CBRE's head of retail and alternatives research, Kate Bailey.
'That's really helping to drive lunchtime trade and foot traffic volumes throughout the CBD, which is pushing up tenant demand and rents, and subsequently lowering vacancies.'
The report found about 79 per cent of Brisbane workers attended the office most days. Wednesday was the busiest time of the week, with about 86 per cent coming in.
Bailey said those numbers were buoyed by cheap public transport and new infrastructure, including the Kangaroo Point Bridge and Metro.
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