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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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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The Corenet Government Forum took place in Canberra the other week with a great set of speakers; Sam Engele (ACT Government), Joydeep Hor (People + Culture Strategies), Tom Payne (Hoyne) and Domino Risch (Placeology). Before heading back to Sydney, we drove around Canberra to take a quick look...
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Last week, the Property Council of Australia (PCA) released its Office Market Report figures for the first half of 2024. The PCA has been doing so since the 1990’s so it is a great indicator for trends in the office market. 2024 started with a flurry...
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