Finding Your Perfect Commercial Office Space: A Guide to Brisbane's Building Grades

Choosing the right commercial office space can be a really important ingredient for the long-term success of your business. In Brisbane, commercial office spaces are classified into different grades based on their quality and amenities. Understanding these grades will help you find the space that fits your needs and budget. The Property Council of Australia (PCA) classifies commercial office towers into three main categories: Premium, A Grade, and B Grade.

Factors influencing office space grade

Several factors determine an office building’s grade:

• Building Age: Newer buildings often have more modern amenities.
• Net Lettable Area (NLA): The total usable area available for leasing.
• Floorplate NLA: The size of each floor available for lease.
• Location: Prime locations, especially in the Brisbane CBD, are highly valued.
• Lifts: The speed, size, and number of lifts relative to the building’s NLA.
• Environmental Credentials: Ratings such as NABERS and Green Star.
• Building Management Control Systems (BMCS): Advanced systems for controlling building functions.

Breaking down Brisbane’s office building grades

Brisbane offers a variety of office spaces. Here’s a breakdown of the different types:

Premium office buildings: The Pinnacle of Brisbane’s commercial property market

Premium commercial office spaces offer the highest level of quality and amenities. These buildings are typically located in prime Brisbane CBD areas and feature top-notch architectural designs, state-of-the-art building management, extensive car parking, efficient Heating ventilation and air conditioning systems (HVAC), and world-class security and communication systems. Premium office spaces are often occupied by internationally recognised companies or businesses with high client interaction.

Currently, Brisbane boasts a strong selection of Premium buildings, including:

• 123 Eagle Street (built in 1986)
• 1 Eagle Street (built in 1989)
• 71 Eagle Street (built in 2005)
• 111 Eagle Street (built in 2012)
• 480 Queen Street (built in 2016)
• 80 Ann Street (built in 2022)

The trend in Premium buildings is towards even more advanced and luxurious developments. Brisbane’s skyline is set to be further enhanced with two new Premium buildings in the pipeline, expected to be completed within the next four to five years.

Premium office buildings are the crème de la crème of the commercial property market. They typically boast:

• Prime locations: Found in the heart of the Brisbane CBD, often with stunning city views.
• State-of-the-art amenities: High-speed lifts, extensive security systems, flex spaces, luxurious lobbies, and on-site facilities like gyms, cafes, or childcare.
• High-quality finishes: Modern design, premium materials, and attention to detail throughout the building.
• Large, efficient floorplates: Spacious and flexible floor plans to accommodate various business needs.
• Strong environmental credentials: Often certified with green building ratings like NABERS or Green Star.

A Grade Office Buildings: A strong foundation

A Grade commercial office spaces offer many of the same amenities as Premium buildings but with some differences in location, size, and overall quality. These buildings are still high-quality and often located in prime areas but may not have the same extensive facilities or architectural features as Premium buildings.

For example, 12 Creek Street – The Annex, although offering high-quality amenities and design, is not large enough to be classified as Premium. A Grade buildings are a cost-effective choice for businesses seeking quality office space without the premium price tag.

A Grade office buildings typically boast:

• Central locations: Often found in established business districts.
• Modern amenities: Good quality lifts, secure parking, and basic on-site facilities.
• Well-maintained interiors: Contemporary design and finishes.
• Competitive lease rates: Offering good value for money without compromising on quality.

A Grade buildings are suitable for a wide range of businesses, from startups to established companies.

A-/B+ Grade Office Buildings: A versatile option

The A-/B+ Grade is a new category/grade of building that Caden Office Leasing have introduced. These buildings offer a more flexible approach to classifying office buildings that don’t neatly fit into the traditional A or B Grade categories. This classification is based on market analysis rather than official PCA guidelines.

A-/B+ buildings often present a balance between cost and quality. They typically offer:

• Strategic locations: Situated in areas with good access to public transport and amenities.
• Functional design: Practical layouts with adequate natural light.
• Refurbishment potential: Some buildings may benefit from upgrades to enhance their appeal.
• Competitive pricing: Lease rates are generally lower than A Grade buildings.

Examples of A-/B+ buildings include:

• 307 Queen Street and 333 Ann Street: These buildings offer quality amenities but have smaller floorplates and lower rents than typical A Grade buildings.
• 260 Queen Street and 324 Queen Street: These buildings have undergone significant refurbishments to elevate their appeal and rental rates.

The A-/B+ category provides businesses with a wider range of options to consider when searching for office space.

B Grade Office Buildings: Practical and affordable

B Grade commercial office spaces offer a cost-effective option for businesses seeking a functional workspace. While they may not have the prime locations or extensive amenities of higher-grade buildings, they often provide good value and flexibility.

B Grade buildings typically feature:

• Diverse locations: Found in various areas of the city, including suburban locations.
• Basic amenities: Essential facilities like lifts and security but limited additional features.
• Flexible floorplates: Often able to be divided into smaller spaces to accommodate different business sizes.
• Competitive Lease rates: Lower leasing costs compared to higher-grade buildings.

Despite their more budget-friendly nature, the B Grade market is evolving. Many landlords are investing in building upgrades to attract tenants. Features such as spec suites, on-floor concierges, and end-of-trip facilities are becoming increasingly common in B Grade buildings. This trend has contributed to a rise in transactions within this category. For example, 201 Charlotte Street has undergone a significant refurbishment, successfully transitioning from a B to an A Grade building.

B Grade buildings are well-suited for smaller businesses, startups, or those prioritising affordability. They offer a practical and flexible workspace without breaking the bank.