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Market Overviews

  • NSW
  • QLD
  • VIC
  • ACT
  • WA
  • SA
  • Tenant or Landlord market?

    Landlord

  • Amount of
    supply?

    Under supplied

  • Key Tenant
    Driver

    Location / Tenant Services / Amenities

  • Main sector
    driving demand

    Professional Services

  • Overall
    sentiment

    Positive

How is your market currently performing?

Overall, the Sydney CBD market continues to strengthen in favour of the Landlord. However, it is important to clarify that across the various size cohorts and grades within the market there are differing levels of market performance.

The strongest sector remains in the suite or sub 500sqm size range, as the reality of displacement finally sets in for these tenants. The lack of availability in the A and B grade market increases pressure for those tenants to either step up in quality, or step out of the direct leasing market into serviced offices or co-working space. We expect the competition for space in this sector of the market to peak in Q4 2016, which is compounding the rise in face rents and reduction in incentives.

Whilst there are a number of larger requirements still yet to land, the market availability for contiguous space greater than 3,000sqm is very limited, accentuated by strong leasing activity in Q3.

How are tenants business objectives influencing choice? E.g. workplace flexibility, war for talent, growth?

Proximity to transport, amenity and activation all lead from the need to attract, but more importantly retain talent. The more transient workforce that is coming through from the millennial generation are focused heavily on these three key areas and forward thinking businesses (and some landlords) are responding to these needs positively.

Do you see a rise in trends such as co-working, automation or customer experience (e.g. concierge, hotel services) within your tenant market?

These trends are now well entrenched in the Sydney CBD market, the challenge now is to focus on the next wave, which we would be happy to discuss.

What marketing channels / initiatives are you finding most effective in driving enquiry? (property portals, websites, digital banners, signage etc)

Online enquiry has been the strongest in 2016 than we have ever seen before. In the past, online enquiry was limited to smaller suites, but we are now seeing tenants from 100sqm to 5,000sqm enquiring online. Digital is a huge focus for JLL and our clients to ensure that we are responding quickly to the dynamic market and the thirst for quick response times and easily accessible information.

What are the top 3 improvements / refurbishments being made to assets in your market? (e.g. lobby refurbs, end of trip)?

Communal or third space, top quality EOT and online portals for existing tenants.

Daniel Kernaghan

Head of Leasing - NSW
daniel.kernaghan@ap.jll.com
+61 2 9220 8721

Top 3 deals of the quarter

  • 10,990 sqm leased by GPNSW at 680 World Square
  • 4,417 sqm leased by Roche at 30 The Bond, Hickson Road
  • 4,185 sqm leased by Clyde and Co at 333 George Street
  • Tenant or Landlord market?

    Landlord

  • Amount of
    supply?

    Adequate

  • Key Tenant
    Driver

    Building Grade

  • Main sector
    driving demand

    Professional Services

  • Overall
    sentiment

    Positive

How is your market currently performing?

North Sydney is performing strongly across both Prime and Secondary grade office premises, as stock withdrawals and inherent business growth drive demand. This has had a positive impact on effective rent growth; both in face rents and marked reductions in incentives across all office grades.

How are tenants business objectives influencing choice? E.g. workplace flexibility, war for talent, growth?

The days of tenants having a number of premises to choose from, no longer exist. There is a shortage of stock particularly in the sub-500sqm sector across all key markets of North Sydney, St Leonards and Chatswood. We have tenants competing for the same areas, particularly fitted spaces.

Do you see a rise in trends such as co-working, automation or customer experience (e.g. concierge, hotel services) within your tenant market?

Without doubt the daily tenant experience within the office is improving - driven by our clients wanting to ensure their customers (tenants) have amenity at their fingertips, whilst the building services the everyday needs of their staff. End of trip facilities in A and B Grade buildings have substantially improved, concierge facilities are being considered by a number of our clients and tenants now have their own portals, with the Landlord or Property Manager, providing them up-to-date information on activities and events both within the building and within the CBD.

What marketing channels / indicatives are you finding most effective in driving enquiry? (property portals, websites, digital banners, signage etc).

Property portals continue to drive enquiry. Property search starts online so we continue to ensure listings are impactful and visible across relevant sites.

What are the top 3 improvements / refurbishments being made to assets in your market? (e.g. lobby refurbs, end of trip)?

End of Trip facilities and general on-floor refurbishments are the significant improvements, as Landlords move to improve the on-floor and work-day experience for tenants.

Paul Lynch

National Director,
Leasing - NSW
paul.lynch@ap.jll.com
+61 415 909 871

Top 3 deals of the quarter

  • 4,000 sqm leased by Chubb Insurance at 101 Miller Street, North Sydney
  • 800 sqm (top floor) leased by Trend Micro at 1 Pacific Highway (this was a significant tenant move from Macquarie Park)
  • Last two floors leased by NBN at Suntech’s new development, 177 Pacific Highway, North Sydney
  • Tenant or Landlord market?

    Neutral

  • Amount of
    supply?

    Under supplied

  • Key Tenant
    Driver

    Location

  • Main sector
    driving demand

    Social

  • Overall
    sentiment

    Positive

How is your market currently performing?

With such significant development occurring within Parramatta’s CBD, we’re currently experiencing the calm before the storm

How are tenants business objectives influencing choice? E.g. workplace flexibility, war for talent, growth?

It’s all about being conservative at the moment, cost control and keeping current staff happy.

Do you see a rise in trends such as co-working, automation or customer experience (e.g. concierge, hotel services) within your tenant market?

Parramatta is emerging from a cost conscious business accommodation CBD into a rapidly regenerating place to be. Infrastructure projects are providing a platform for the next wave of redevelopment, and the CBD is becoming very busy.

What marketing channels / indicatives are you finding most effective in driving enquiry? (property portals, websites, digital banners, signage etc)

Digital banners and websites

What are the top 3 improvements / refurbishments being made to assets in your market? (e.g. lobby refurbs, end of trip)?

Lobby mainly, primary concern is presentation and DDA facilities in older buildings.

Scott Butler

Associate Director,
Leasing - Parramatta
scott.butler@ap.jll.com
+61 2 9806 2800

  • Tenant or Landlord market?

    Landlord

  • Amount of
    supply?

    Under supplied

  • Key Tenant
    Driver

    Building Grade

  • Main sector
    driving demand

    Technology / Professional Services

  • Overall
    sentiment

    Positive

How is your market currently performing?

Exceptionally well, predominantly due to the displacement of tenants from commercial buildings in Macquarie Park being sold for residential re-development. Other drivers have continued to be the consolidation of two or more separate businesses through M&A activity. Additionally, enquiry for the relocation of back office operations from the CBD has surfaced as a cost cutting initiative.

Market fundamentals via the tight vacancy rate in Sydney Olympic Park contributed to a moderate increase in prime net face rents this quarter. Similarly, Norwest has had a reasonable performance with positive 2,900sqm of net absorption recorded in 3Q16. Tenant enquiry across these two smaller markets has been driven primarily by construction and strata companies in the 200sqm range.

How are tenants business objectives influencing choice? E.g. workplace flexibility, war for talent, growth?

The ability to accommodate their business over a single, large floor plate of 1,500sqm - 2,500sqm has been a strong driver for tenants, in both traditional open plan configurations, and flexible workspace fit outs. Proximity to public transport and amenity are other key considerations, in addition to good parking for staff and visitors.

Do you see a rise in trends such as co-working, automation or customer experience (e.g. concierge, hotel services) within your tenant market?

Potentially yes, as Landlords try and differentiate their product in Metro markets where such services are generally not available.

What marketing channels / indicatives are you finding most effective in driving enquiry? (property portals, websites, digital banners, signage etc)

We generate enquiry from a variety of marketing channels. You can never rely on a single source, and need to spread the net as far as possible.

What are the top 3 improvements / refurbishments being made to assets in your market? (e.g. lobby refurbs, end of trip)?

We are seeing a host of upgrades across the market, especially in assets built 10 or more years ago. These include façade replacement and /or painting, lobby refurbishments, landscaping beatification works and installation of end of trip facilities.

Denys Bizinger

Regional Director - NSW
denys.bizinger@ap.jll.com
+61 2 9936 5876

Top 3 deals of the quarter

  • 2,600 sqm leased by Sharp Australia leasing at 2 Julius Avenue, North Ryde (having relocated from Western Sydney).
  • 1,500 sqm leased by Kia Motors at 67 Epping Road, Macquarie Park (having relocated from Homebush West).
  • 1,495 sqm leased by Keller Australia at 2-4 Lyon Park Road, Macquarie Park (having consolidated from several locations in Baulkham Hills).
  • Tenant or Landlord market?

    Tenant

  • Amount of
    supply?

    Saturated

  • Key Tenant
    Driver

    Floorplate

  • Main sector
    driving demand

    Banking

  • Overall
    sentiment

    Improving

How is your market currently performing?

Whilst large occupier activity has continued, decision making and progress has slowed. The brokerage market has remained buoyant with several transactions sub 300sqm being recorded in the quarter.

How are tenants business objectives influencing choice? E.g. workplace flexibility, war for talent, growth?

Cost remains a key driver for decision making, however the creation of unique and flexible workspaces are seeing some requirements morph as tenant briefs evolve.

Do you see a rise in trends such as co-working, automation or customer experience (e.g. concierge, hotel services) within your tenant market?

Conferencing spaces and other customer benefits are now being considered as important attributes of any building in the Prime Grade Market. Onsite amenity and informal meeting areas within the Building’s ground plane are also considered important building features for the tenant market.

What marketing channels / indicatives are you finding most effective in driving enquiry? (property portals, websites, digital banners, signage etc).

Online portals remain a good source of enquiry within the brokerage market.

What are the top 3 improvements / refurbishments being made to assets in your market? (e.g. lobby refurbs, end of trip)?

Lobby refurbishments / installation of conferencing spaces / Lift upgrades

Adam Barrett

National Director
Head of Leasing - QLD
adam.barrett@ap.jll.com
+61 7 3231 1315

Top 3 deals of the quarter

  • 1,512 sqm leased by Commonwealth Of Australia (ASQA) at 215 Adelaide Street
  • 9,525 sqm leased by Commonwealth of Australia (Prime Minister & Cabinet) at 215 Adelaide Street
  • 401 sqm leased by Just Digital People at 160 Ann Street
  • Tenant or Landlord market?

    Tenant

  • Amount of
    supply?

    Under supplied

  • Key Tenant
    Driver

    Building Grade

  • Main sector
    driving demand

    Technology

  • Overall
    sentiment

    Struggling

How is your market currently performing?

The Brisbane near city market has remained consistent throughout 2016. Rents have stabilised with incentives and vacancy rates remaining high, stunting any signs of effective rental growth. Demand is weak with many Near City tenants also considering the CBD as an alternative. The flow of tenants from the CBD to the Near City for better buildings at cheaper rates has stalled, however there are pockets of the market improving, mainly the A Grade sector in South Brisbane and Fortitude Valley/Newstead.

How are tenants business objectives influencing choice? E.g. workplace flexibility, war for talent, growth?

Businesses are focused on overall occupancy costs. Workplace flexibility and driving efficiency via fit outs often result in less area and ultimately less rent. This is a major catalyst for tenant moves. Some sectors are experiencing organic growth, however mergers and consolidation is a major reason prompting moves.

Do you see a rise in trends such as co-working, automation or customer experience (e.g. concierge, hotel services) within your tenant market?

Yes businesses are expecting more from their office buildings, especially in the new development space. Businesses want access to more than just their office floor - Business Centres, shared meeting rooms and roof top terraces are all being well received. Landlords are embracing technology with WiFi enabled foyers and public spaces.

What marketing channels / indicatives are you finding most effective in driving enquiry? (property portals, websites, digital banners, signage etc)

Property Portals remain the best source of enquiry, however it is the role of the agent to understand tenant needs, and adapt the pitch prior to them formally entering the market.

What are the top 3 improvements / refurbishments being made to assets in your market? (e.g. lobby refurbs, end of trip)?

End of Trip facilities, ground floor retail, exposed ceilings and additional services e.g. concierge

Gerry Leyden

Associate Director,
Office Leasing, Queensland
gerry.leyden@ap.jll.com
T: +61 7 3231 1348
M: 0402 792 238
F: +61 7 3231 1314

Top 3 deals of the quarter

  • 961 sqm leased by AG Coombs at HQ North Tower, 540 Wickham Street, Fortitude Valley
  • 830 sqm leased by Fairfax Media at 757 Ann Street, Fortitude Valley
  • 600 sqm leased by Geourgiou Group at 757 Ann Street, Fortitude Valley
  • Tenant or Landlord market?

    Neutral

  • Amount of
    supply?

    Adequate

  • Key Tenant
    Driver

    Location

  • Main sector
    driving demand

    Banking

  • Overall
    sentiment

    Positive

How is your market currently performing?

Very strongly, net absorption is resulting in effective rental growth.

How are tenants business objectives influencing choice? E.g. workplace flexibility, war for talent, growth?

The strong demand for project space, resulting from the metro rail project, has ensured most fitted and furnished options have strong tenant interest, especially those areas located on the northern fringe of the CBD.

Do you see a rise in trends such as co-working, automation or customer experience (e.g. concierge, hotel services) within your tenant market?

Co-working space continues to form part of all development schemes, whilst concierge services are being extended to include end of trip facilities.

What marketing channels / indicatives are you finding most effective in driving enquiry? (property portals, websites, digital banners, signage etc)

The sub 500sqm tenancy market continues to respond to both onsite signage and property portals, however with the increased penetration of advocates into this market, we anticipate demands to source market options from a broad source of avenues. There continues to be an increasing number of larger requirements that are not formally entering the market via the use of a market brief.

What are the main improvements / refurbishments being made to assets in your market? (e.g. lobby refurbs, end of trip)?

Lobby refurbishments, lobby refurbishments & lobby refurbishments! A range of examples are underway. A simple example between Elizabeth & Queen St on Collins St includes: 350,360,367,379 Collins St alone. Many more example will emerge during 2017.

Stuart Colquhoun

Head of Leasing - Victoria
stuart.colquhoun@ap.jll.com
+61 3 9672 6531

Top 3 deals of the quarter

  • 6,500 sqm leased by HWL Ebsworth at 447 Collins St (moving from 530 Collins St)
  • 5,754 sqm leased by ACCC at 2 Lonsdale St (moving from Melbourne Central Tower)
  • 9,213 sqm leased by Tabcorp at 2 Collins Square, Docklands (moving from 5 Bowen Cr South Melbourne)
  • Tenant or Landlord market?

    Landlord

  • Amount of
    supply?

    Under supplied

  • Key Tenant
    Driver

    Location / Building Grade / Tenant Services / Amenities

  • Main sector
    driving demand

    Professional Services

  • Overall
    sentiment

    Improving

How is your market currently performing?

Availabilities within A grade assets continue to be the most actively sought after by occupiers. Refurbished B grade assets with quality functional fit-outs also remain in favour, with the price point being a considerable factor. With a distinct lack of availability within fringe markets of both A Grade and refurbished B Grade assets, occupiers are exploring alternate markets, most notably CBD & Southbank.

There are a number of new developments and significant building refurbishments in the pipeline that will fulfill tenant demand for high quality product. The pre-commitment market will be a prominent part of fringe markets throughout 2017 and beyond.

How are tenants’ business objectives influencing choice? E.g. workplace flexibility, war for talent, growth?

Understanding a business’s key drivers is crucial to leasing success. Occupiers continue to want maximum flexibility to grow or contract throughout the term of lease. Whilst this remains challenging for landlords, it is imperative that landlords and their management team are in continual dialogue with their tenants throughout occupation, to ensure the ‘jigsaw puzzle’ of keeping a building at full occupancy can be achieved.

Do you see a rise in trends such as co-working, automation or customer experience (e.g. concierge, hotel services) within your tenant market?

These elements are less evident (if at all) within fringe markets.
Fringe occupiers remain focused on locations that provides good access to public transportation and staff amenity. Building grade quality remains a high priority.

What marketing channels / indicatives are you finding most effective in driving enquiry? (property portals, websites, digital banners, signage etc)

Digital marketing remains the most obvious source of initial enquiry. The ability to then provide detailed and creative marketing materials, with professional imagery and technical information, assists with encouraging tenant engagement to negotiation.

What are the top 3 improvements / refurbishments being made to assets in your market? (e.g. lobby refurbs, end of trip)?

Landlords are aware the tenant inspection experience needs to impress potential tenants and their representatives. Whilst it’s not always feasible to have new entry foyers, lift lobbies & EOT facilities, it is imperative to ensure that any vacant space is presented at the highest standard, to ensure potential tenants don’t dismiss the opportunity. The quality of lifts, air conditioning and bathroom areas are imperative to ensure these areas present & function at an optimal level. Whilst financial parameters are typically key to all leasing outcomes, attention to these items ensure the occupier inspection experience is a positive one. Landlords must be mindful a potential tenant may seek feedback from other building occupiers regarding their occupancy experience. These recommendations can often be critical to leasing success.

Key presentation items for Landlord to consider:

  • Ability to offer creative type space (i.e. exposed services, polished concrete floors)
  • End of Trip facilities - these need to be available irrespective of size. Existing showers should be refurbished
  • Entry Lobby’s with a particular focus towards creating areas for occupiers to engage in casual meeting areas. A quality café offering (where possible) adds significant benefit to the occupiers and inspection experience.

Richard Norman

Associate Director - Victoria
richard.norman@ap.jll.com
+61 3 9672 6636

Top 3 deals of the quarter

  • 1,128 sqm subleased by Herbert Smith Freehills (from Jacobs) at 600 St Kilda Rd.
  • 3,800sqm being renewed by STW (WPP) at 380 St Kilda Rd (3 whole floors).
  • 786 sqm leased by Container Chain at 5 Queens Road (newly refurbished offices).
  • Tenant or Landlord market?

    Landlord

  • Amount of
    supply?

    Under supplied

  • Key Tenant
    Driver

    Location / Tenant Services / Amenities

  • Main sector
    driving demand

    Technology / Health / Professional Services

  • Overall
    sentiment

    Positive

How is your market currently performing?

We are seeing real constraints on supply in the inner metro market which is resulting in good effective rental growth. There is strong demand particularly in this precinct. This is in contrast to outer suburbs where vacancy sits above 15%.

How are tenant’s business objectives influencing choice? E.g. workplace flexibility, war for talent, growth?

There seems to be a continued migration of tenants from the outer suburbs to the inner suburbs. The key drivers being better access to talent and retail and transport amenity.

Do you see a rise in trends such as co-working, automation or customer experience (e.g. concierge, hotel services) within your tenant market?

Serviced office and co-working groups are very active, particularly in the inner metro markets. We are also seeing strong demand for precincts like Chadstone, where the new speculative building of 17,000 sqm is now fully committed. The tenants predominantly have retail backgrounds.

What marketing channels / initiatives are you finding most effective in driving enquiry? (property portals, websites, digital banners, signage etc).

Property portals and market tenant briefs are the most effective channels for capturing enquiries, with tenants preferring either the services of an advocate or a desk to search property availabilities. Traditional signboards are becoming less and less effective.

What are the top 3 improvements / refurbishments being made to assets in your market? (e.g. lobby refurbs, end of trip)?

End of trip facilities in older buildings are definitely a focus for lessors. Also, many landlords are looking at lighting upgrades to T5 or Led to create better, more efficient working environments.

Josh Tebb

Director, Office Leasing,
Glen Waverley
Joshua.Tebb@ap.jll.com
+61 03 9565 6617

Top 3 deals of the quarter

  • 1,000 sqm leased by Decision Intellect at 990 Whitehorse Road
  • 23,000 sqm leased by David Jones at 572 Swan Street, Richmond
  • 1,500 sqm leased by Water Mark at 109 Burwood Road, Hawthorn
  • Tenant or Landlord market?

    Tenant

  • Amount of
    supply?

    Adequate

  • Key Tenant
    Driver

    Location

  • Main sector
    driving demand

    Professional Services / Federal and local Government

  • Overall
    sentiment

    Positive

How is your market currently performing?

Sentiment is currently positive in Canberra and this trend is likely to continue over the short to medium term. The tight prime vacancy rate is allowing landlords the opportunity to increase prime face rents higher and decrease incentives. The subdued office supply pipeline will keep also help to keep this trend in motion throughout the year. On the leasing front, reshuffling and consolidations by multiple local government departments this quarter contributed to 6,000 sqm of positive net absorption. The private sector has been active in the sub 1,000 sqm cohort with leasing activity witnessed amongst media communications, IT and consulting firms.

How are tenant’s business objectives influencing choice? E.g. workplace flexibility, war for talent, growth?

We are currently seeing tenants from both the public and private sector seeking to gain greater efficiency and value for money.

Do you see a rise in trends such as co-working, automation or customer experience (e.g. concierge, hotel services) within your tenant market?

Workspace provider, WOTSO, has been active in spreading its co-working philosophy over the last two years both nationally and in Canberra. We see this trend continuing as well as a continued push for more flexible working environments via ABW.

What marketing channels / indicatives are you finding most effective in driving enquiry? (property portals, websites, digital banners, signage etc).

Tenants are enquiring and expressing interest primarily through digital channels, particularly portals; signage and networks.

What are the top 3 improvements / refurbishments being made to assets in your market? (e.g. lobby refurbs, end of trip)?

We are also seeing refurbishment works being considered on a number of government buildings. These plans look to improve upon existing space to accommodate for designated conference areas and staff training rooms. 2 Constitution Place has recently been fully refurbished with modern amenities and office working spaces facilities featuring in this building.

Andrew Balzanelli

Managing Director
Sales and Leasing - ACT
andrew.balzanelli@ap.jll.com
+61 2 6274 9818

Top 3 deals of the quarter

  • 12,700 sqm leased by ACT Health leasing at 2-6 Bowes Street, Phillip (having consolidated from several locations in the CBD).
  • 4,500 sqm leased by Access Canberra at 21 Bowes Street, Phillip.
  • 2,800 sqm leased by ACT Corrective Services at 2 Constitution Avenue.
  • Tenant or Landlord market?

    Tenant

  • Amount of
    supply?

    Saturated

  • Key Tenant
    Driver

    Building Grade

  • Main sector
    driving demand

    Technology / Legal / Professional Services

  • Overall
    sentiment

    Struggling

How is your market currently performing?

  • There remains a steady amount of leasing enquiry and activity in the market, despite the high vacancy rate.
  • We are seeing an increase in enquiry from tenants looking to move to the CBD from suburban office locations.
  • Although there has been a number of leasing deals, vacancy is anticipated to remain relatively stable.
  • Occupiers are using the current market conditions/incentives on offer to secure newer, upgraded facilities.

How are tenants business objectives influencing choice? E.g. workplace flexibility, war for talent, growth?

  • Larger tenants are very conscious of perception regardless of the deal.
  • Building quality and workplace flexibility are prime objectives in considering relocation.
  • Non CBD tenants wanting to take advantage of increased public transportation and amenity in the Perth CBD.

What are the top 3 improvements / refurbishments being made to assets in your market? (e.g. lobby refurbs, end of trip)?

Owners are upgrading building via Lobby refurbishments, end-of-trip and speculative fitouts.

Nick Van Helden

Regional Director
Head of Leasing - WA
nick.vanhelden@ap.jll.com
+61 8 9483 8423

Top 3 deals of the quarter

  • Arup leasing 1498 sqm at Exchange Tower
  • Fujitsu leasing 1309 sqm at Exchange Tower
  • Burgess Rawson leasing 900 sqm at 225 St Georges Terrace
  • BP leasing 660 sqm at Workzone
  • The Simulation Group leasing 360 sqm at 197 St Georges Terrace
  • Tenant or Landlord market?

    Tenant

  • Amount of
    supply?

    Adequate

  • Key Tenant
    Driver

    Tenant Services / Amenities

  • Main sector
    driving demand

    Technology

  • Overall
    sentiment

    Struggling

How is your market currently performing?

The market remains slow with demand generally weak. Enquiry is strongest amongst smaller tenants but some larger requirements are still yet to be fulfilled. There continues to be a trend towards consolidation and rationalisation of tenancy space, which has led to centralisation into better quality buildings in the CBD.

How are tenants business objectives influencing choice? E.g. workplace flexibility, war for talent, growth?

Many businesses are still focused on profit protection through cost reduction. There is still a degree of caution amongst most private sector tenants with many seeming reluctant to commit to large capital expenditure (required to construct a new fitout or relocate an office).

Do you see a rise in trends such as co-working, automation or customer experience (e.g. concierge, hotel services) within your tenant market?

The co-working, serviced office and small tenancy market is strong with many different service providers offering different experiences within this space. Adelaide is yet to see larger corporate property owners choosing to devote office space to this use, but several local private owners have established co-working businesses within their own portfolios as a way to mitigate long term vacancy.

What marketing channels / indicatives are you finding most effective in driving enquiry? (property portals, websites, digital banners, signage etc)

Direct canvassing is the most effective way to drive enquiry. Utilising good lease expiry information and local contacts, and building relationships with tenants, advocates and key influencers is still important. Online listing websites continue to be good for smaller tenancies, signage seems to work best in the suburban market.

What are the top 3 improvements / refurbishments being made to assets in your market? (e.g. lobby refurbs, end of trip)?

Upgrading end of trip facilities, lobby refurbishments and bathroom/amenities upgrades are the three areas that will drive the greatest benefit through refurbishment.

Tom Budarick

Head of Leasing - SA
tom.budarick@ap.jll.com
+61 8 8233 8898

Top 3 deals of the quarter

  • 1,100 sqm leased by Victim Support Services at 33 Franklin Street
  • 220 sqm leased by Zheng Tang at 31 Franklin Street
  • 447 sqm leased by Opteon Property Group at 121 King William Street