The overall improvement in national office attendance is rising as many large corporations set clearer return to office policies.
It’s a toxic mix:commercial property companies are over-leveraged,borrowing costs are surging,vacancy rates have risen as people work from home,and property values are falling.
Large businesses would need a report with audit-ready data to show what their emissions are,which will be transformational for commercial property.
Leading property executives are confident they have the right strategies in place to tackle what they collectively forecast will be another challenging year for office,retail and industrial properties.
Property giant Brookfield has defied the office market woes with the house full sign going up in its Sydney tower after signing up the operator of the global Calvin Klein and Tommy Hilfiger brands.
Its charismatic founder helped turn WeWork into a giant that was once valued at $US47 billion. This week,it filed for bankruptcy.
Sydney’s heritage sandstone buildings precinct in the heart of the city is undergoing the final stage of redevelopment.
Fund manager ISPT is offering up a portfolio of retail and office properties worth about $600 million across Sydney and Melbourne.
It has been a lean year for Melbourne CBD office transactions,with potential buyers pitching lowball prices to vendors.
It’s a quiet West Perth office strip lined by innocuous buildings and bookended by Parliament House. But if billionaire Gina Rinehart gets her way,Ord Street will soon be home to a bright pink five-storey office building.
In a memo sent to employees on Thursday,the company revealed its Perth operations would be brought under the same roof at 256 St Georges Terrace from the middle of next year.