South Sydney’s office market is transforming into a green tech hub with a range of tenants looking to enter the “key growth corridor”.
Sydney’s north shore office market is roaring back to life with the green light given to private developers Third.i for a $650 million skyscraper known as Warada on Walker,being built with joint venture partner Toohey Miller.
Office deals in the city fringe of Sydney are setting records. Investors and developers are taking advantage of demand for high-quality sites which offer flexibility for workers who opt to stay closer to home and avoid long commutes.
Office landlords in the suburbs are turning to creative measures and refurbishments to attract tenants and workers back to their desks.
Capital Gain:An outer suburban supermarket has changed hands for $13.76 million on a razor-sharp yield of 2.98 per cent.
International developer Brookfield has undertaken extensive upgrades of its neighbouring office buildings,within its $2 billion Brookfield Place Sydney precinct in preparation to sell as buyers’ circle CBD investment opportunities.
House rents in popular country and coastal towns have risen almost three times as fast as in the Victorian capital after a rush of remote workers to the regions.
Melbourne tenants will be forced to dig deeper to live within the city limits,as house and unit rents rise while the vacancy rate falls.
International investors have earmarked Australia as a prime country in which to buy assets as the world recovers from the impacts of the global pandemic.
One of the more exclusive addresses in Sydney’s city,the Cartier Building,is set to test the market with the private owners looking for a generational change and offering with a high-end price tag of $150 million.
The $3 billion transformation of Sydney’s unloved Central Station precinct into an innovative tech hub is entering its final phase.