CULWULLA
July 29th, 2004, 03:32 AM
about time!!
Sydney CBD back in black
By Line : Maurice Dunlevy Published : 29/07/2004 Clip Ref : 12647570
Publication : Australian Section : Property Page : 40
A report by Jones Lang La Salle determined that Sydney CBD office space figures were positive for the first quarter since March 2001. A net demand of 4000sqm was recorded for Sydney, while increases in Canberra numbered 22,000sqm, with sightly less in Perth (20,000sqm) (nearly 35,000sqm for the year) and Brisbane (19,000sqm).
Adelaide recorded a $5000sqm office absorption which is positive.
Jones Lang La Salle national head of leasing, Stephen Conry, said the national leasing market looks positive for the remainder of the year.
Sydney & melb rents dropped slightly- $485 sqm & $311 sqm respectively while Brisbanes increased 10% to $275 sqm.
Melbournes june quarter had only 7,000sqm absorbed and is unsustainable with some 30,000sqm coming on line in Docklands. It also has 318,000sqm uc or refurbed and has only 67% pre committed.
Overall the outlook for the Australian Market is positive! :cheers:
Sydney CBD back in black
By Line : Maurice Dunlevy Published : 29/07/2004 Clip Ref : 12647570
Publication : Australian Section : Property Page : 40
A report by Jones Lang La Salle determined that Sydney CBD office space figures were positive for the first quarter since March 2001. A net demand of 4000sqm was recorded for Sydney, while increases in Canberra numbered 22,000sqm, with sightly less in Perth (20,000sqm) (nearly 35,000sqm for the year) and Brisbane (19,000sqm).
Adelaide recorded a $5000sqm office absorption which is positive.
Jones Lang La Salle national head of leasing, Stephen Conry, said the national leasing market looks positive for the remainder of the year.
Sydney & melb rents dropped slightly- $485 sqm & $311 sqm respectively while Brisbanes increased 10% to $275 sqm.
Melbournes june quarter had only 7,000sqm absorbed and is unsustainable with some 30,000sqm coming on line in Docklands. It also has 318,000sqm uc or refurbed and has only 67% pre committed.
Overall the outlook for the Australian Market is positive! :cheers: