The amount of office space leased in the country’s best office towers is rising while demand for secondary buildings is contracting, as the divide between CBD winners and losers sharpens.
“Virtually all organisations that relocate move into higher quality office accommodation. The highest quality buildings have strong occupancy rates, A-grade and upper B-grade are competing on the level of amenity / sustainability credentials and an increasing number of lower quality assets is where we see structural vacancy.”The national CBD office vacancy rate held steady at 14.7 per cent over the quarter, easing slightly in Sydney to 14.
“If you want to attract and retain the best people to be the best business, you’re going to need the best office space,” Mr Quinn toldYou’re going to see a lot of buildings which aren’t leasable any more. With those buildings being pulled out of the market, that’s going to put more pressure on A-grade and prime buildings.”
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