Tag Archives: offices
Commercial Construction
Outlook Remains Soft
Posted on 07. Oct, 2009 by Chris Lang.
While Australia's overall business expenditure has remained fairly strong, our Commercial construction and infrastructure outlays are expected to decline by at least 10% this financial year. BCI Australia is forecasting project construction of some $63 billion 2009-10, which is about $7.7 billion down on that for 2008-09. In all but for Victoria and South Australia, [...]
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State of the Commercial Market?
Posted on 17. Aug, 2009 by Chris Lang.
As you would expect, the financial turmoil worldwide has had a significant effect on most property markets. However, the effect has not been the same across the board. The current state of the various CBD office markets is probably your best barometer of future activity for two reasons. First, the Property Council of Australia (PCA) [...]
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Sentiment is Strong ... Despite the Economy
Posted on 10. Jul, 2009 by Chris Lang.
These graphs are painting a very encouraging picture. As you can see, the Westpac-Melbourne Institute consumer sentiment index increased strongly by 9.5% for June. And that means it has now leapt by some 23% since May — the largest 2-month increase for over 30 years. First-home buyers have also been active, accounting for nearly 30% [...]
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The "Fund Gap" Threatens ...
Higher-Priced Commercial Property
Posted on 25. Jun, 2009 by Chris Lang.
Earlier this year, you read about a funding crisis pending for Property Trusts and Institutional buyers. And this is not helped by the RuddBank failing to materialise. With a surge in the Share Market since March, several recent capital raisings have helped some of these larger property owners. However, with the latest hiccup in Share [...]
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CBD Office Shortage Looming for Melbourne
Posted on 18. Jun, 2009 by Chris Lang.
And Rentals are Set to Rise ... The recent boom period saw prime Office rentals in Brisbane, Sydney and Perth hit the $1,000 per sq metre mark. However, they have fallen dramatically from that peak, since mid-2008 Meanwhile, Melbourne has remained steady at around $750 per sq metre — mainly because most of its new [...]
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Private Investors Vs the Institutional Buyers
Posted on 20. Apr, 2009 by Chris Lang.
Private Investors continue to dominate the Melbourne Commercial Office market. Right now, sales around $20 million are slow; and over $40 million are few and far between. However, the suburban market for properties under $3 million enjoy solid demand from cashed-up private Investors. Research by Knight Frank shows that last year saw $240 million recorded [...]
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CBD Office Markets
Posted on 27. Mar, 2009 by Chris Lang.
As a result of the global financial crisis ... sales of Melbourne CBD Offices fell in 2008 (to $425.2m) from the level achieved in 2007 (of $850.9m) — according to research released by CBRE. Institutional buyers and REITs have virtually withdrawn from the market ... leaving private syndicates, wealthy families and overseas buyers to transact [...]
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Here's Something Definitely Worth a Look
Posted on 02. Mar, 2009 by Chris Lang.
Just the other day, the sales team at Grayjohnson started marketing what I really think is a top property here in the CBD at 33 Russell Street in Melbourne. It's a rather well presented ground-floor Retail Showroom — at the corner of Flinders Lane, opposite the Grand Hyatt Hotel.
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Which Australian Office Markets are in Trouble?
Posted on 10. Feb, 2009 by Chris Lang.
Queensland seems to have been hardest hit. And in particular the Gold Coast, where vacancy levels have soared to around 18%. But the difficulties confronting Queensland (and fellow mining State WA) are not necessarily reflected Australia-wide.
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Taking Stock of Commercial Property
Posted on 03. Feb, 2009 by Chris Lang.
As I mentioned in a recent mail to some Clients, it's been surprising how few quality properties have been forced onto the market — given the difficulties caused by current global turmoil. You've heard so much lately as to how bad things are. But let's undertake a quick comparison for Australia — between 1990 and [...]
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This is Not Quite the Stuff of Fairytales ...
Posted on 03. Dec, 2008 by Chris Lang.
But for the most of 2008, Australia has basically experienced what you might term a Goldilocks market for Commercial property ... "not too hot, and not too cold!" Despite Office, Retail and Industrial being near the top of their cycles ... the global turmoil has prevented the usual runaway activity occurring — in most capital [...]
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