How can we assess sublease vacancy in the Sydney CBD?

September 09, 2020

The JLL office leasing team continues to track sublease vacancy on an ongoing basis in order to better assess the opportunities and risks in the Sydney CBD market.

  • The Sydney CBD office market is dealing with accelerating levels of sublease vacancy – it is currently 2.2% of total stock which is in line with levels seen in the GFC – although below the peak recorded in 1990 of 6.2%.
  • Economic conditions, whilst bolstered by a continuance in fiscal stimulus measures over the next nine months, remain exposed to a winding down of these same measures.
  • Additional sublease vacancy is likely to come online in the back half of the year as occupiers continue to shift into decision-making mode.

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