Office

Demand for CBD office space has remained strong across Australian capital cities with the office sector showing resilience in the face of bleak predictions caused by the pandemic. According to the Property Council of Australia’s latest Office Market Report, tenant demand lifted an average 0.5 per cent across the country’s CBDs.

Charter Hall has committed to the major redevelopment of Bankwest Place due for completion in 2025.

The latest WALE (weighted average lease expiry) figures from commercial property management software company Re-Leased have shown a decline since the start of the pandemic, as business confidence falls.

Australian based funds management company Aviator Capital has purchased a riverside office asset in Brisbane’s fast-changing North Quarter precinct from Kyko Group for circa $50 million

JLL Research’s 2Q22 statistics on national office markets show the outperformance of prime to secondary office stock in Sydney, reflected in the take up of Prime Grade* space.

One of Brisbane's most important heritage assets, Corbett Chambers, has sold with a WALE of 2.79 years

Charter Hall Group has confirmed that the Charter Hall Prime Office Fund has acquired 50 per cent of the landmark Southern Cross Towers precinct in the prestigious “Paris End” of Melbourne’s CBD, from Brookfield and Blackstone.

Demand for office space increased by 11 percent for H1 2022, with enquiries for over 1.622 million metres squared, driven by a post lockdown appetite for the over 3,000 square metres market in particular, with an additional 61,000 square metres enquired for in H1 2022 compared to H1 2021, Colliers Office Demand Index reveals.

Lendlease and Mitsubishi Estate Asia have formed a joint venture to acquire the One Circular Quay development in Sydney for c.$800 million in up front and deferred consideration, with an additional $50 million payment subject to certain project outcomes.

Charter Hall has invested $80m in two newly constructed properties, being a TAFE campus and a specialist emergency medical facility (Properties) located in Robina, Queensland reflecting a passing yield of 4.4%.

ISPT is excited to announce its first tenant partner TAL who will anchor its redevelopment of 500 Bourke Street.

Centuria Office Fund has acquired 57 Wyatt Street, Adelaide, as a fund-through investment into a high-quality boutique office building with Centuria Developments responsible for delivery.

The weight of capital looking to be invested into the life sciences property sector continues to grow as superannuation funds and offshore capital increase their focus on the Australian market.

HThree City and its co-investor City Developments Limited have acquired 330 Collins Street, a freehold commercial office tower in Melbourne, for A$236 million from an AMP Capital separate account.

Investment in Brisbane’s biggest commercial property markets has surged in the first half of 2022, picking up where it left off in 2021 with last year being a record year of transactions in Queensland.