Smart technology will be the catalyst for change in Adelaide’s office landscape, taking the same focus that sustainability and end of trip facilities did a decade ago. That was one of the key outtakes of CBRE’s annual Adelaide Market Outlook presentation, which highlighted new measures landlords are taking to capture tenants in an increasingly competitive
A wave of residential conversion activity in the St Kilda Road precinct over the past two years has revitalised the suburb’s office market, with secondary stock replaced by an injection of fresh retail amenity. A new CBRE Viewpoint, The future of office in the St Kilda Road precinct, highlights the impact the withdrawal of 51,500sqm
A race for space is underway in Sydney’s office market, with limited supply and strengthening tenant demand pushing rental growth to a two decade high. CBRE’s new Australian Office MarketView report highlights that Sydney’s CBD office market is on track to record its third consecutive quarter of growth and strongest year in more than two
Brisbane’s CBD office market is benefitting from a wave of tenant activity, with tightening vacancy levels in the Near City precinct prompting occupiers to look beyond the city fringe. CBRE’s James Comino said CBD office landlords were adapting to the shift in tenant sentiment, injecting capital into building upgrades in a bid to lure tenants.
Brisbane’s ‘Near City’ office precinct is emerging one of the most sought after business hubs, with a surge in demand from tenants amid the region’s ongoing urban revitalisation. CBRE’s Associate Director Mel Pikos said demand for office accommodation in the Near City precincts was rapidly strengthening, with strong interest from a broad sector of occupiers.
Melbourne has joined Sydney in recording healthy face rental growth in the office market in the first quarter of 2016 according to recent research by CBRE. The Q1 2016 Office MarketView states that after remaining steady for the past 12 months, prime net face rents in the CBD rose 2% to average $505 per sqm
Adelaide’s sublease market is the second smallest in the country according to the latest Sublease Barometer report from CBRE. Sublease space in the Adelaide office market totaled 29,180sqm at the end of Q1 2016 compared with 52,400sqm in Sydney, 61,300sqm in Melbourne, 72,500sqm in Brisbane, 88,800sqm in Perth and 16,400sqm in Canberra. CBRE Director Michael
Sydney CBD has recorded its strongest quarterly face rental growth in the first quarter of 2016 since 2011, according to CBRE’s latest Office MarketView report. Secondary net face rents were up 4% q-o-q to $598 in the first quarter of the year, while prime net face rents rose 3.5% to $968 over the same period.