RESEARCH
LIMITED supply of contiguous stock in core location and ongoing inflationary pressures have pushed prime rents higher across most major CBD office markets.
Melbourne, Brisbane, Perth, and Sydney CBDs all saw rental growth increase over the September quarter, according to Cushman & Wakefield’s latest...
Prime gross effective rents grew most in Melbourne during the three-month period, rising 6.17% from $583 to $619 per sqm. While gross incentives were flat at...
Major Melbourne CBD leasing deals in the quarter included VCAT committing to 13,824 sqm in Charter Hall Office Trust’s 300 La Trobe Street and...
Melbourne’s growth came despite rising vacancy and recent supply additions, however, Cushman & Wakefield said that with a significant amount of ...
LIMITED supply of contiguous stock in core location and ongoing inflationary pressures have pushed prime rents higher across most major CBD office markets.
Tim Molchanoff, head of office leasing in Australia and New Zealand, Cushman & Wakefield, said, “We’re seeing little movement in incentives across CBDs that...
In a recent Australian Property Journal Talking Property podcast, Benjamin Martin-Henry, Head of Real Estate Research, Pacific, MSCI, noted that...
Multi-speed market in Melbourne
A multi-speed market continues to emerge in the Melbourne CBD, it said. Premium grade stock continues to see solid demand with 12,000 sqm of...
The story is less positive for the A-grade market, where six-month net absorption was recorded at -60,100 sqm, stock levels and occupied space both decreased...
In the Brisbane CBD, prime gross effective rents rose 4.9% quarter-on-quarter from $490 to $515 per sqm, taking growth to 15.6% on a rolling annual basis...
The largest leasing transaction was Boeing moving into 12,056 sqm at Dexus’ 123 Albert Street...
Demand for quality space in the Perth CBD remains strong, with prime gross effective rents growing 3.7% in the quarter to record $542 sqm, for a year-on-year uptick of...
Perth continues to have the highest office occupancy in the country, according to Cushman & Wakefield data...
The major deals in the quarter included Calibre Global renewing for 4,752 sqm in 50 St Georges Terrace and Metconnx committing to 3,035 sqm in the...
Sydney CBD office rents posted more muted gains in gross effective rents, inching up 0.3% from $974 to $977 in the quarter to take rolling annual increases to 5.8%...
Some of the early-year gains in gross effective rents in the Adelaide CBD prime office market were wiped out in the September quarter as they fell from...
“Positive net absorption and pre-commitments for higher quality office space are supporting overall CBD rental growth trends. However, it remains a mixed picture of...