Office Space in North Sydney
One square metre in four of North Sydney office space is empty, and incentives are running at 42 per cent. It is the best time in years to sign a North Sydney lease — and still the wrong move if you need a room twice a week.
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Spaces in North Sydney
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What an office costs in North Sydney
Cushman & Wakefield's Sydney Metro MarketBeat for the first quarter of 2026 puts North Sydney net face rent at $975 per square metre a year, with average gross incentives of 42 per cent and outgoings of $171. Vacancy is 25.9 per cent — 251,100 of 967,642 square metres sitting empty — after Victoria Cross Tower added 54,926 square metres to the market. Face rents at that level with incentives at that level mean the effective rent is a long way below the headline, but you still have to want the lease term that goes with it. At the small end, a three-person serviced office at 50 Miller Street is $1,980 a month and a six-person is $3,960 — a flat $660 a desk either way.
| Net face rent | $975 / sqm / year |
| Average gross incentives | 42% |
| Outgoings | $171 / sqm / year |
| Overall vacancy | 25.9% |
| Serviced office, 3 people (50 Miller St) | $1,980 / month |
| Serviced office, 6 people | $3,960 / month |
Rents, incentives, outgoings, vacancy and inventory from Cushman & Wakefield's MarketBeat Sydney Metro Office, Q1 2026; those rates reflect full-service asking A-grade properties. Serviced office rates from Rubberdesk's North Sydney listings, September 2026. Net face excludes outgoings, and a 42 per cent incentive is spread across the lease term rather than handed to you.
Where the offices are
The good stock is on Miller, Walker and Mount Streets, clustered around the two stations, and it has been changing hands: 100 Mount Street sold for $558 million this year, 105-153 Miller Street for $100 million and 194 Miller Street for $26.6 million. Older and cheaper space runs north towards Crows Nest and west towards Blues Point Road, where a one-person office is listed from $830 a month. With vacancy at a quarter of the market, the practical effect is that almost everything is available — which is leverage if you are signing for years, and no help at all if you need a room on Thursday.
How much is office space in North Sydney?
$975 per square metre a year net face, with average gross incentives of 42 per cent and outgoings of $171, according to Cushman & Wakefield's Q1 2026 Sydney Metro MarketBeat.
Is there much North Sydney office space available?
A great deal. Vacancy is 25.9 per cent — about 251,100 square metres — following the completion of Victoria Cross Tower, which added 54,926 square metres. That makes it a tenant's market for anyone taking a lease.
Can I rent a North Sydney office month to month?
Yes. A three-person serviced office at 50 Miller Street is listed at $1,980 a month, or $660 a desk. If you only need a room a few days a week, CoHub hosts list private rooms in existing businesses by the hour or the day.
Also in North Sydney
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