Earlier this month, the Property Council of Australia (PCA) released its Office Market Report for the second half of 2024. The sentiment in the room was pensive almost as if expectations have been or at least were starting to reset. The second half of 2024 showed...
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So much office market analysis is based on data but often the data only gets you so far when trying to determine the direction of the market. Data in its own right is historic, like office building valuations. It sets a baseline up to the...
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The Property Council of Australia releases its Office Market Report (OMR) on Thursday morning. While we wait with bated breath to see what the future holds, it is always fascinating to reflect on the past. We compiled examples of a few leasing deals we completed from...
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The penultimate working week before the holiday break. Over the last year, we have seen, heard, and reported on the various office, industrial, and alternative markets in which we operate. Last week’s CREview outlined some of our general observations for 2024. Of course, technology and the workplace...
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Like clockwork, every year end the CRE industry experiences a flurry of activity which slows as people begin to wind down. It starts in October once the kids go back to school, gets interrupted in early November, and then all of a sudden there are...
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Not that long ago, industrial vacancy in Sydney was under 1%. If you were a tenant, there was effectively no choice and rents were climbing during negotiations. For new speculative developments, rents were not advertised until close to Practical Completion (PC) so the highest possible...
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Interesting read in the WSJ on 12 November, Real-Estate Scions Are Breaking a Cardinal Rule: Never Sell, sparked. Every office market has its own idiosyncrasies. Yet some things are standard across all global office markets; countless private owners, markets go down and they recover. In Sydney, previous office market...
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Just because we read articles where office buildings in the US get sold for cents on the dollar, doesn’t mean our market should do the same. If it did, there would be buying opportunities everywhere and we would be converting many more office buildings to...
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Inspecting office buildings on a Monday morning in North Sydney is similar to doing the same in Melbourne. Catching the train across the Harbour Bridge to the CBD for afternoon inspections, one notices the real difference between the 2 office markets. Only 3 years ago North...
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Recently NSW Premier Chris Minns issued the C2024-03 NSW Government Sector workplace presence, stating among other things, “Government sector agencies are expected to have flexible work policies that meet reasonable requests of employees, but the default arrangement is to work principally in an approved workplace, office...
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