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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Our previous week’s CREview, noted; Where it [impact of AI] ends up, we don’t know. What we do know, is the last round of “automation technology” slowly and steadily reduced the use of office space from 15 m2 per person in the mid-1990’s to 10 m2 per...
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In late July, we introduced Pullinen Property Group’s ESG initiative, CREcycle. We highlighted, “… energy has dominated the conversation for years, making it easy for the CRE industry to follow suit by focusing almost exclusively on NABERS energy ratings.” But what about the other NABERS? Looking at the...
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There are many reports, views, and predictions about AI and its impact. The recently released Brookings Institute report, Generative AI, the American worker, and the future of work, starts by noting: “To date, most of the discussion around ChatGPT and similar technologies has stayed away from work and...
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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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At the TCN Fall conference in Calgary Canada, Scott Hutcheson of Aspen Properties, Iain McCorkindale of M3 Development, and Maxim Olshevsky of Astra Group, led a great panel discussion, Office: Residential Conversions (ORCs). In 2015, there was a sharp decline in oil and gas prices which...
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Flying overseas this week for the annual TCN Worldwide conference, this time in Calgary Alberta, to discuss the state of the CRE business, markets and where is it all heading. A brief stopover in Seattle on the way has us thinking back to our first visit...
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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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Monday morning and Sydney airport is its usual busy self. I arrive in Melbourne on time and the traffic jam at the airport is unusual but understandable with the works programme underway. As we drive through the CBD, the driver and I both notice how quiet...
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