For the last little while, the most popular word in the office market community has been “supply”. Not enough supply, undersupply, supply shortage, you name it – supply is everywhere. Every time I look for a CRE tenant client, I find the “supply”. Whether the vacancy...
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In looking at the PCA OMR vacancy numbers for the 6 major capital city CBD’s, it’s all straight forward. One can talk it up or down but there were no surprises. [caption id="attachment_6085" align="aligncenter" width="450"] Source: Property Council of Australia Office Market Report 1990-2025[/caption] Vacancy increased marginally...
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Every 6 months since January 1990, the Property Council of Australia has released its Office Market Report (OMR). It is a consistent and highly anticipated update on the office markets around the country. The OMR release event in Sydney always reminds me of the 1980’s...
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Whilst researching for the CoreNet Global government forum last week, it became increasingly obvious that we are in a three-tier market. The top tier starts with A. These are the best buildings, with generally the highest ESG ratings. They are typically the buildings we hear and...
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On Tuesday, I had the pleasure of presenting an overview of the Australian CRE markets at the CoreNet Global Government Forum in Canberra. It was a great opportunity to share views at a forum focused on the largest office tenant in the country. In preparing for...
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Long gone are the asbestos saw toothed roofs of manufacturing companies. Continued improvements in automation, the rise of China, and the arrival of the internet, not only reduced manufacturing in Australia, but pushed industrial development further and further way from inner city locations. Importing of goods increased,...
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The built environment is responsible for close to 40% of greenhouse gas emissions. The CRE industry is making a big effort to reduce this, some of it mandatory, some of it voluntary. More and more parties (Lessors and Lessees) are making a contribution towards a more...
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Following last week’s CREview on office space, one reader noted there was no reference to white collar employment. Ask a young person about white collar employment and the first reaction may be, “no one wears white collars anymore”. They do, just not in the numbers when...
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The question on the lips of the CRE industry is – how much office space does an office tenant actually need? Well, it depends. It is almost impossible to answer the question in a generic sense because there are so many determining factors, and it depends...
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