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Old February 22nd, 2005, 01:16 AM   #101
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looks like unit sales have not only hit Sydney hard.
Melbourne and even Brisbane also are about to dive.

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Old March 9th, 2005, 03:12 AM   #102
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another office tower to start in 2005! 34storey 51,000sqm MID CITY CENTRE>>>
https://www.skyscrapercity.com/showth...11#post3517111
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Old March 16th, 2005, 02:31 AM   #103
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just another opinion little different to others kinda, just get so many of these articles that flood me when i have to look through them, put one up that is on topic ;p

Savills looks into Sydney’s CBD prospects
Chris Freeman*
March 16, 2005

In the year to January 2005, the market posted its first period of positive net absorption since July 2001.

This rebound in absorption is primarily due to workspace ratios tightening significantly over recent years, which has led companies requiring additional workspace for new employees as opposed to simply filling unutilized space within existing tenancies.

Despite the long awaited return of a positive leasing outcome, the market has nevertheless experienced a rise in vacancy levels, as positive absorption has been insufficient to account for vacant space created by the current development cycle.

The results from the January 2005 Prime Full Floor Availability Report highlight the wealth of leasing options open to tenants in today’s market and give insight into the high level of rental incentives offered by landlords at present.

With 243 floors and 346,012 sqm available for lease in the Prime grade, which represents 15.1% of the market analysed, competition is high to secure larger tenants.

Premium buildings with some of the highest levels of availability in the market at present include; Chifley Tower with 18 floors that will be vacated by Westpac and Allens Arthur Robinson upon completion of the Kens development and 126 Phillip Street respectively and Grosvernor Place with 5 floors available when Deutsche move to 126 Phillip Street.

In Premium buildings under construction, 126 Phillip Street has only 4 floors remaining for pre-lease and 8 high rise floors remain in Darling Park 3.

In Grade A buildings; 259 George Street will seek to fill a total of 23 floors that will be vacated in 2006 with the relocations of AAP and Qantas, 321 Kent Street is seeking to fill 12 floors following the relocation of Ernst & Young, 6 floors remain available in the former KPMG headquarters at 45 Clarence Street, Civic Tower has 16 floors remaining to be leased, 255 Elizabeth Street will seek to fill 13 floors following the relocation of Phillips Fox and the pending relocation of Westpac.

Despite a soft rental market, demand for CBD office assets remains strong.

However, with CBD rentals tipped to turn, current owners are proving reluctant to part with assets; especially given the difficulty of attaining replacement stock. With such a hindrance on stock for sale, the volume of transactions has fallen sharply from 2002.

Over the 2004 year, Savills recorded 22 sales of office assets over $5m with a total consideration of $963.9m. While the number of sales is on par with 2003, it Is well below 2002 which recorded 37 sales over $5m.

On present evidence, Prime office yields in the Sydney CBD are now estimated to be ranging from 6.25% to 7.00%, with IRR s tightening to 9.25% to 9.50% Secondary grade office buildings are trading in the 7.50% to 8.75% yield band, with IRR s ranging between 9.50% to 9.75%.

Whilst the number of sales during 2004 was slightly higher than 2003, the year was not buoyed by sales of major assets worth over $100m as was 2003. As such, the total volume of dollars transacted fell sharply as highlighted in the chart below. Institutions remained the dominant purchasers over 2004, accounting for 69% of transactional volume, private investors were also active with 22%.

In 2005, the number of sales is again likely to be subdued, the offering of Chifley
Tower to the market is likely to see transactional values increase should the landmark tower be sold.

The 2004 year played out very much in line with Savills forecasts, with net absorption finally returning to the market but being counteracted by additional supply.

Due to this, we see little reason to change our overall stance from 2004; that being rentals remaining virtually stagnant until post 2006 when the bulk of supply is accounted for and strong net absorption begins to tighten vacancy levels significantly.

In the near term, it appears likely for 2005 to post a reduction in vacancy levels as net absorption for the year (forecast to be circa 60,000 sqm) should outstrip net supply and downsizing/consolidation activity.

We forecast a tightening in the vacancy level of around 1% over the 2005 year.

During 2006 however, white collar growth is forecast to be more subdued, and with the bulk of construction coming on line creating a plethora of vacancies in backfill affected buildings, vacancy levels are likely return to present levels.

With 243 floors available for lease over this period in the prime grade alone, it is apparent that supply issues may take longer to overcome than many have been forecasting.

Nevertheless, in a market capable of posting net absorption levels close to 300,000 sqm, vacancy levels could rebound sharply should tenant demand approach these levels.

In the long run, the supply outlook for the Sydney CBD is fundamentally restrained.

Current CBD development sites mooted for construction are facing significant zoning or consolidation issues that must be overcome before they can offer a feasible prime office product. With such a restricted long term supply outlook, the long run feasibility of investment in the Sydney CBD office market seems assured.

*Chris Freeman is the Research Manager for leading property advisers Savills
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Old March 16th, 2005, 03:06 AM   #104
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its all g00d!
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Old March 17th, 2005, 12:45 AM   #105
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Old March 17th, 2005, 03:28 AM   #106
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this is good news hopefully some will be pulled down add new ones put up
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Old March 17th, 2005, 04:07 AM   #107
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Quote:
Originally Posted by Petermaloney
this is good news hopefully some will be pulled down add new ones put up
that would be great. what would also be good is if they built things that did not date so quickly
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Old March 29th, 2005, 04:35 AM   #108
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Under lock and key
March 29, 2005

Australand says the city's strict development rules all but barricaded it out of the CUB site, but the reality is more complex, writes Elizabeth Farrelly.

Ain't that just like a boy? Let everyone slag off the Lord Mayor as anti-development then, soon as it starts to seem a popular stance, fall in behind like an eager puppy. Pant, pant, woof, been here all the time.

The Premier, Bob Carr's support for Clover Moore's ruthless and unrepentant fairness regarding the Carlton & United brewery site on Broadway is as touching as it is unexpected. The 5.7-hectare site always had a shaggy dog kind of look, speaking of canines - and there was that change of city government, although this, as you will see, is probably little more than a handy excuse.

"It's got absolutely zip to do with the apartment market," said Australand's Brendan Crotty, having trashed his $203 million option on the site. Crotty blames "delay and uncertainty" for his decision to walk, and the City of Sydney Council's supposedly unreasonable planning constraints - restricted car parking, requirements for child care, open space etc. But it's a leaky old story. The delay has been principally Australand's, with the council sitting on its hands for more than a year while Australand laboured over its promised conservation management plan, unavailable even now. As for uncertainty, Australand's disgruntlement seems to be more about the opposite, namely Clover's insistence on not bending the rules to suit.

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AdvertisementBack under the old regime, when city development rules behaved like bits of old knicker-elastic, Crotty sounded positively relaxed. "We're happy with the process," he said in late 2003. "I have no doubt that a design competition will produce the best solution. If you have three first-class architects, and take the best elements of all three, you'll end up with a best-of-the-best amalgam." That was then, despite the contradictory limits on the site, (a 5:1 floor-space ratio versus a 15-storey height maximum) and the propensity of Sydney competition winners to flout such rules in any case. Hardly what you'd call a model of certainty.

So you'd have to say Clover's explanation is the more plausible. That is, Australand's walk-out owes more to a pre-planned market-downtown exit-strategy than any cruel or unusual planning discipline. And what of the Premier's uncharacteristic support, just when it seemed he had the perfect excuse for flicking the site over to his new Redfern-Waterloo development as part of its airport-to-CBD gentri-push?

Well, he could hardly do anything else, for one thing, after his very public anti-ugly drive. Then there's the fact that unbendiness of rule is precisely his Government's defence of choice in the continuing Orange Grove comedy. Of course, he's reading the mood of the moment: "I think," said Carr on air, "[that] the public wants to have very tight design and heritage and planning and environmental guidelines applied to the development sector. There was too much shoddy, lousy development thrown up in the past without those guidelines, and the industry should be mature enough to work with the regulations."

Even more to the point, though, is this. The entire planning and consent process for the brewery site has actually been government-controlled, managed as it is by the Central Sydney Planning Committee. The committee undertakes all strategic planning in the city and makes all consent decisions over $50 million; despite a majority of government appointees, its decisions - get this - are legally council's. Handy, since it means the Lord Mayor, as chairwoman, can be rolled any time and still legally wears the decision. But it also means Government criticism of the brewery-site process would blow straight back home to Government.

While Carr, in puppy-behind-the-throne mode, exhorted councils "not to change the goalposts", his Government continued its practice of talking green while making distinctly brown decisions. Promising natural gas buses then canning them; promising rail but delivering roads; promising a metropolitan plan - indeed, tossing the entire planning system into disarray for that purpose - and delivering, uh, press releases. The latest of which tells us not even to expect a metro strategy, after all this palaver; just dribs and drabs - a road here, a press release there. Maybe even a whole set, stapled together and called policy.

Same goes for the long-promised freight strategy. In anticipation of which the Government refuses to make any decision on the proposed road-rail freight interchange at Ingleburn - then tells the ports expansion inquiry that no such strategy will actually eventuate.

Hmph, you might shrug. What's new? Well the admission is new. The public recognition that producing plans is not something the vast Department of Planning, Infrastructure and Natural Resources can be expected to do. No planning. No infrastructure. And on the natural resources front, you'd have to say, they had help.

Still, the do-nothingness of it all sits comfortably with the department's age-old proclivity for planning after the event. Indeed it's a disease that's starting to look infectious, if the city's long-awaited city pools strategy is anything to go by. While the strategy itself, or Draft Aquatic Leisure Study, is still weeks or maybe months from publication, three of the city's four existing pools are already in the throes of makeover madness. Victoria Park is having a total-refit mode (months of mud and mess to produce a new pump, boilers and filtration system, and toddlers' pool); contracts have been let on the proposed Seidler-designed, wave-roofed Ian Thorpe Aquatic Centre in Ultimo, completion late '06; and Prince Alfred Park is having the protracted community-workshop treatment. The question? To move or not to move the pool - out of the way, onto the tennis courts. But at least, it seems, the best pool in town (personal view) will stay.

Back in the bad days, when the council was trying to close the pool by stealth because none of the users lived in the city area, public meetings were secret affairs, and you had to register before being told the venue. That's one way of keeping the ratbags out. At least the current council's public meetings are actually public, unlike previously; and at least they actually act, unlike the Government. Consensus on Prince Alfred is unclear, except that people want it open-air, unyuppified and open year-round. Seems good to me.

Over at Glebe, a further controversy is cooking that should test the Government's tram-shed-destruction policy, as noted in recent weeks (Tempe, Cremorne and now Harold Park) and the planning committee's resolve. The NSW Harness Racing Club bought the Maxwell Road site for a dollar some years ago from - yep - the Government. Now they want to replace the heritage-listed sheds, on land zoned open-space reserve, with 122 apartments and 222 car spaces. I'd say apply the brewery-site restrictions without fear or favour - half a car space per flat - but the worry for the planning committee is legal advice: that rejecting the proposal, on that particular zoning, could render them (the council, that is, not the committee ) liable for compensation. Icky business.

If all that hasn't depressed you enough as to even the possibility of serious decision-making in this town, cop this. In 2002 Sydney Airport was sold by the Federal Government to Southern Cross Airports Corporation Holdings (aka Macquarie Bank) on a 99-year lease. Macquarie Bank, being what they are, want to develop; tripling passenger numbers and adding a small CBD's worth of office space with 8000 cars. This amounts to a serious Edge City proposal - with the potential to destroy Green Square and the recovering downtown commercial market for years to come. But the site, being federal land, is exempt from all planning control. So even if the state were decision-capable, it'd be helpless to act. It's exactly the loophole that lobbed the Horizon into two-storeyed Darlinghurst.

In an exact analogy of playground bully syndrome, the state undermines the city and is undermined in turn by the feds. No wonder they can't take planning Sydney seriously.
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Old March 31st, 2005, 07:43 AM   #109
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Tenants on move in central Sydney
By Carolyn Cummins, Commercial Property Editor
March 30, 2005

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A number of large sales and leasing deals are tipped for the next few months, including Chifley Tower in Sydney, as investors and fund managers reassess their portfolios.

There has been a noticeable shift of office space occupation from the mid-town area near Martin Place to the northern end of the CBD, but landlords remain confident the floors will be backfilled with new tenants.

Yesterday, Merrill Lynch relocated to Governor Phillip Tower, leaving four floors vacant at MLC Centre, owned by General Property Trust and Queensland Investment Corp.

Merrill Lynch has taken floors 37-39 and 41 and joins Goldman Sachs JBWere and UBS at the address, which is owned by GPT and DB Reef.

In June 2007, however, UBS leaves for Chifley Tower, which is close to being sold.

The Japanese owner of Chifley Tower, Matsushita Investment and Development Corp, is in discussions with a number of parties. One is said to be Commonwealth Property Office Fund, with an asking price of close to $800 million.

AdvertisementBut it remains unlikely that the Commonwealth fund will be the buyer, as it is in the process of refurbishing and leasing its AAP Centre at 259 George Street. AAP and Qantas will leave the centre in the next couple of months.

Other buyers from offshore are also looking at the Chifley site, previously owned by Alan Bond's Bond Corp, which hit financial trouble before the skyscraper was built. It sat as one of Sydney's black holes until the Japanese group came in with a cheque.

But now the owners have hit hard times and are keen to offload the asset, which will be left almost empty when its core tenants, law firm Allen Arthur Robinson and Westpac, move out later this year.

It will leave the building with a 41 per cent vacancy rate, which compares with the under construction Darling Park 3 site, where the anchor tenant is the US-based Marsh Group.

The lawyers are going to Investa's new 126 Phillip Street to join anchor tenant Deutsche Bank, while Westpac is moving to its Kens Project in the western corridor of the CBD.

There could be further sales on the horizon if troubles at Germany-based Deka group's parent continue.

Although the head of Deka's international property operations, Johannes Haug, has said the focus is on rebuilding support among investors, there are suggestions that if the problems persist the company will be forced to sell some Australian assets. The group has a portfolio of prestigious local properties such as 20 Bridge Street, the home of the Australian Stock Exchange, and 35 Clarence Street.

Analysts said the trust would be reluctant to sell such properties, but the market is keeping a close eye on the parent's problems.

Savills' national head of research, Chris Freeman, said in a report on the CBD that there was a 14.9 per cent prime full-floor availability across the city, of which about 12 per cent was in prime buildings.

The highest level of space available for rent is in the mid-town core, including Chifley and extending to Australia Square, which has a 19 per cent vacancy rate following the relocation of Lend Lease and GPT.

In his report, Mr Freeman said the average net rent, after outgoings, for prime Sydney CBD was $535 per square metre with a 20 per cent incentive level.

In North Sydney, the average rent stands at $380/sqm with a 25 per cent incentive, while in Parramatta office space rent is $255/sqm with a 15 per cent incentive.


41% vacancy rate in chifley is huge, building is classy! not too sure what my work pays for rent here, but with such a lack of future tennants, im thinking its a rip off ;p
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Old April 5th, 2005, 03:58 AM   #110
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from yesterday fin rev
E&Y tower is now 90% filled!
besides E&Y, other large firms in tower are AAPT & Austereo.
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Old April 14th, 2005, 02:40 AM   #111
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Old April 14th, 2005, 04:23 AM   #112
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Apart from the larger projects, Sydney is having so much office space coming onto the market in adequate doses; the 8-level base of Rialto, the offices in the huge World Sq podium, Hilton Hotel podium.

Even though not as obvious as the larger projects, they certainly add to the glutinous amount of space released out onto the market.

Brisbane as we know is on a high atm.
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Old June 30th, 2005, 05:03 AM   #113
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Old September 16th, 2005, 02:59 AM   #114
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well sydney's vacancy rate has impoved by over 1%. which is good. parramattas is a bit of a worry still




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Old September 16th, 2005, 04:41 AM   #115
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Sydney on the move as big tenants scout around
Kathryn House
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16 September 2005
Australian Financial Review


Incentives remain high and the city's vacancy rate is still in double figures. But a wave of new tenant inquiries has led to renewed optimism that the Sydney office leasing market could finally be in recovery mode.

Suncorp, Telstra and the Australian Taxation Office have all gone to the market in recent weeks, each wanting more than 15,000 square metres of space.

Many smaller inquiries have also emerged, including an 8000 sq m brief from Caltex, which is presently housed in the MLC Centre.

The key for the market will be whether those inquiries translate into new lease commitments.

However, Savills' NSW divisional director of commercial leasing, Michael Andrews, said market sentiment had clearly improved.

While he didn't expect Sydney's recovery to be anywhere near as dramatic as Brisbane, Mr Andrews said the market should tighten considerably in the next 12 months, particularly for prime office space. What had emerged in the Sydney CBD was a two-tier market.

For larger space users of more than 10,000 sq m there were now very limited options, which could make it challenging for some tenants who were scouting for space.

But Mr Andrews said smaller tenants of between 1000 sq m and 3000 sq m still had numerous options and some landlords were still offering aggressive incentives to secure deals.

Combined, the larger new inquiries represent the most demand the city has seen in some time. Telstra is one of the newest to come to the market, with a 15,000 sq m to 17,000 sq m brief.

It is understood the requirement relates to staff now at 175 Liverpool Street. A Telstra spokesman declined to comment other than to say the company was constantly reviewing its office requirements.

The brief is expected to put some pressure on 175 Liverpool Street's owner, Singapore's GIC Real Estate, which already faces the prospect of losing major tenant American Express.

Amex is thought to be considering a number of alternatives for its 22,000 sq m headquarters, including sites at Pyrmont and North Ryde.

Other big tenants include the Australian Taxation Office, which is considering a move from Westfield's Centrepoint complex. The ATO's brief is for 22,000 sq m to 24,000 sq m of CBD space.

Some mid-sized tenants are also on the move, and there is growing speculation that Challenger Financial Services will soon vacate its high-priced offices in the ABN Amro Tower.

Challenger is believed to be taking a close look at the new Hilton office building.

Apple Computer is also tipped to relocate to more than 3000 sq m in the Hilton building, which was recently acquired by the Industry Superannuation Property Trust.
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Old September 16th, 2005, 04:46 AM   #116
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Space shrinking in Brisbane, Perth
Kathryn House
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16 September 2005
Australian Financial Review


National CBD availability
Sydney Melbourne Brisbane Perth Total
Total prime NLA* (sqm) 2,328,568 2,216,294 780,599 689,309 6,014,770
Total prime occupied stock (sq m) 2,085,541 2,108,914 759,213 657,038 5,610,705
Prime full-floor availability (sq m) 243,027 107,380 21,386 32,271 404,064
Prime full-floor availability 12.70% 4.80% 2.70% 4.70% 6.70%
Prime floors available 193 86 19 31 329
Prime total contiguous 163 57 14 18 252
Prime max contiguous 14 10 10 5 14
*Net lettable area

The Brisbane office leasing market has emerged as by far the strongest in the country in the past 12 months.

But just how far ahead of competing markets, such as Sydney, it has run has been thrown into sharp relief by a new Savills survey, which shows the city has just 19 full floors of prime office space available for lease.

Compare that with Sydney, where tenants have 193 prime office floors to choose from, or Melbourne, where 86 floors of space are up for grabs.

And the chronic shortage of space is only going to get worse in Brisbane according to Savills Queensland research manager Paul Day. Of the 19 floors available, 14 are in the recently completed Riparian Plaza development and negotiations are already in train on two of those floors.

Mr Day said there were also strong rumours that BHP Billiton was closely assessing Riparian for its 8000 square metre lease requirement a deal that would leave just 11 floors of available prime space in the city.

No new stock is due to come on stream until the second half of 2006 when the 55,000 square metre Brisbane Square development is completed.

But that building is fully precommitted to Brisbane City Council and Suncorp so only backfill space from those tenants would become available for lease.

Tenants wanting new office space would, Mr Day said, have to wait until the next construction cycle in 2007 or early 2008.

"Clearly, the Brisbane CBD office market is going to get very tight during this period and the CBD will lose some tenants to the 'fringe' suburbs", Mr Day said.

The Savills report assesses how many full floors of prime office space are actually available for lease within major CBD markets, not just areas that are physically vacant.

The report was first compiled for Sydney 18 months ago but has now been expanded to Brisbane, Melbourne and Perth.

Savills' head of research, Chris Freeman, argues the report gives a truer representation of market conditions than standard vacancy surveys by taking into account backfill space where the tenants have yet to relocate as well as new office space under construction.

The figures paint a relatively grim picture for Sydney, which has 12.7 per cent of its full floors of office space available for lease. Melbourne has the next largest stock of available space 86 full floors or 4.8 per cent of its total stock.

Perth is next on the rankings with 31 full floors 4.7 per cent of its stock followed by Brisbane, where just 2.7 per cent of the city's prime office floors is available for lease.

Mr Freeman said the wide discrepancy between Sydney and Brisbane had been reflected in rental movements. While rents had remained static in Sydney in the first half of the year, effective rentals in Brisbane had spiked by more than 12 per cent over the same period.

Perth has also been strong, with the Savills report showing the market has continued to tighten since official vacancy figures were released by the Property Council of Australia.

While the PCA data pointed to a 9.5 per cent vacancy rate in Perth, Savills' West Australian divisional director of commercial leasing,Graham Postma, said the agency's report showed only three premium grade office floors were available in Perth, all in Central Park.

A-grade space was also in limited supply. While the largest number of available floors were in 45 St Georges Terrace, the five office levels there would not be vacated until February 2007.

Mr Postma said the only other options available for larger tenants were just over 3000 square metres over three floors in The Forrest Centre and three floors in The Quadrant.

KEY POINTS

* A Savills report finds available space in the Brisbane office market has fallen dramatically.

* Perth has the next tightest office market, says the report.
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Old September 20th, 2005, 02:13 AM   #117
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Space race spurs tall storeys
Paddy Manning and Maurice Dunlevy
September 20, 2005

DEVELOPERS are dusting off office tower plans around the country with 13 CBD sites that could yield 368,000sqm of new office space on the drawing board in Sydney alone.

Although the city's office leasing market remains patchy, with vacancy rates hovering around 10 per cent, there are now few options for tenants with big requirements.

American Express, Suncorp, the Australian Taxation Office and Telstra are all looking for more than 10,000sqm of office space in Sydney.

Colliers International's national director major investments, Vince Kernahan, said new office developments would become viable in the short-to-medium term.

Mr Kernahan said Colliers was tracking 13 CBD development sites north of Sydney's Park Street, with the capacity to yield more than 368,000sqm in office space over the next five to seven years.

Mr Kernahan warned of potential oversupply, with the NSW Government planning up to 300,000sqm of office space accommodating 25,000 workers at the massive 22-hectare East Darling Harbour site, to be vacated by Patrick Stevedores next year.

"If the Government does that badly, they'll kill off the western sector for a decade," Mr Kernahan said.

Investa Property Group portfolio manager Michael Cook said East Darling Harbour was a "release valve" for the city's office market and was important to Sydney's status as the nation's financial hub.

"If we don't have the development, we'll get rents to a level that they displace tenants from the state. Then no one wins," he said.

Mr Cook said the new supply there was five to 10 years away and would tap a "totally different tenant base" to the core CBD.

Investa plans to develop a 32-storey, 22,456sqm office tower on its Kindersley House site at 33 Bligh Street.

The company has momentum after its successful development of 126 Phillip Street, Sydney, but Mr Cook said while the market was "almost at the crossroads", he would not say when the Kindersley House project would commence.

Mr Cook said development had been mooted on the site for decades, constrained by its small size and limited views.

He said Kindersley House, like the Sir Norman Foster-designed 126 Phillip, required a clean architectural solution.

At Kindersley House, local architects Rice-Daubney proposed to raise the building as much as nine storeys to ensure every floor had views over the adjacent buildings.

While this was expensive Mr Cook said it was the only way to develop the site properly, and required a tenant willing to pay the necessary rents.

Investa was receiving good holding income from existing tenants, he said, adding: "We won't be rushing in without a pre-commitment. Our view is not to compromise the asset. If the market's not there, don't build it."

One of the first major projects to commence will be Colonial First State's extensive $95 million refurbishment of the AAP Centre at 259 George Street.

Commonwealth Property Office Fund portfolio manager Charles Moore said the top levels occupied by JPMorgan had already been refurbished, and work would start on the 19 levels formerly occupied by Qantas when tenants vacated next April.

Meanwhile, Perth has the nation's largest planned office project, an 85,000sqm proposal by Multiplex to redevelop the Westralia Square site, once owned by Kerry Packer. According to Multiplex, the 125-137 St Georges Terrace project, now known as City Square, is likely to start next year as demand for CBD office space continues to grow.

The project has been stuck on the drawing board as construction costs in the West Australian capital escalate.

At the end of a development cycle in which about a dozen towers have been added to the city skyline, Melbourne still has three of Australia's 10 biggest mooted office projects.

Softdrink millionaire Spiro Stamoulis, C-bus development arm Australian Super Developments and joint venture partners Multiplex and Babcock & Brown all figure in Melbourne proposals which, if they proceed, will add 142,000sqm to CBD office stock.

The Stamoulis family's 559-587 Collins Street proposal is the largest, where a 56,000sqm, $180 million office building is planned on vacant land adjoining the Enterprise House site.

ASD is still without a pre-commitment for a 44,000sqm building it wants to construct at the Grand Central Gardens site at the corner of William and Bourke streets.

Sites are few and far between in the Brisbane CBD, but one of the largest is QIC's 70-80 Eagle Street Central Plaza 3 site, where an 11,500sqm building is planned.

Adelaide is punching above its weight, with seven CBD office buildings already under construction and five more planned.

http://www.theaustralian.news.com.au...E25658,00.html
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Old September 20th, 2005, 02:57 AM   #118
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beat me to it.lol
amazing how Perth has largest planned office bldg! good stuff.
Sydney's 33 Bligh is going to be great. 32storets doesnt sound tall, but its standing on a 50m stilts with tall top section reaching 188m with spire 219m. not bad.

heres the 2nd page of report
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Old December 5th, 2005, 02:23 PM   #119
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bump
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Old December 13th, 2005, 12:32 AM   #120
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