Today
- Exclusive
- Flexible working
The 19 corporate giants behind Sydney’s tumbling office values
Australia’s biggest companies have cut close to 200,000 square metres from their Sydney CBD office footprints. And so far, only Westpac is considering expanding again.
- Campbell Kwan
Yesterday
Just 7pc of British bosses say they go into the office full-time
The findings could open employers up to accusations of hypocrisy from angry staff who have been forced back to their desks.
- Lucy Burton
This Month
- Exclusive
- Commercial real estate
Consolidation coming to co-working as Melbourne rivals merge
CreativeCubes, backed by Flight Centre co-founder Geoff Harris, has bought five Melbourne hubs from Workspace365 as it prepares for an offshore assault.
- Larry Schlesinger
Office funds post their worst performance since GFC
ISPT 50 Lonsdale Street Property Trust and the Mirvac Wholesale Office Fund were the worst performers, posting declines in total return of more than 20 per cent.
- Campbell Kwan
Now is the time to buy commercial property, says this veteran analyst
Veteran real estate research analyst Sameer Chopra says population growth and the high cost of construction will lead to property values surging.
- Larry Schlesinger
Office deal flow still a trickle despite 60pc increase
Office deal activity will not ramp up quickly as due diligence processes are taking as much as four times longer due to concerns about the sector.
- Campbell Kwan
Abu Dhabi’s original hedge fund island is running out of office space
A real estate frenzy puts the United Arab Emirates capital at odds with other major cities around the world, where office vacancy rates remain elevated.
- Zainab Fattah
Quintessential’s $250m Brisbane office deal confirms valuation slump
Quintessential’s $250m purchase of 240 Queen Street in Brisbane from Brookfield crystallises a 17pc fall in the tower’s value from its peak.
- Larry Schlesinger
June
Cannon-Brookes’ $10m office reno tops architecture awards
The focus on giving new life to old buildings is crucial at a time when preserving embodied carbon of existing buildings is an increasing priority.
- Michael Bleby
Mirvac sells $1.3b stake in new tower to Mitsui
The transaction is the latest evidence of the company’s efforts to trade out of lower-quality office assets and focus on new, premium ones.
- Michael Bleby
- Exclusive
- Lendlease
Can Google bring the groove to drab Docklands?
The tech giant is eyeing the top three floors in Lendlease’s Melbourne Quarter Tower, a move that could add hipster vibes to the drab Docklands precinct.
- Nick Lenaghan
- Exclusive
- Dexus
Dexus-Canadian fund cashes out $310m Martin Place stake at a discount
Office valuations have been progressively written down over the past two years as the sector absorbs the cost of high rates.
- Campbell Kwan
- Exclusive
- Legal industry
Minters to sit atop Mirvac’s 55-storey office tower
The top-tier law firm will take up the top floors of 55 Pitt Street, as Sydney’s legal eagles vie for the best perches across the CBD.
- Campbell Kwan and Maxim Shanahan
Macquarie joins rush into land lease sector after $2.9b raising
Macquarie Asset Management’s new global fund will invest in a land lease business on the East Coast alongside investments in logistics and rental housing
- Larry Schlesinger
WeWork’s exit opens opportunity for new co-working hub
The owner of 66 King Street in Sydney’s CBD has taken over the space from WeWork and decided to run his own co-working office there under a belief that he can do it better.
- Campbell Kwan
- Exclusive
- Commercial real estate
Rich List Snow family sets sights on Canberra’s next landmark
It is the first major project launched by Capital Property, the owner of Canberra Airport, since Terry Snow stepped down from active management last month.
- Nick Lenaghan
- Opinion
- Chanticleer
Why the office property market is still in real pain
Sliding valuations in Australian office real estate means the debate about whether the sector has hit the bottom will rage on.
- James Thomson
- Exclusive
- Commercial real estate
Mirvac set to sell two office towers at discounts of more than 20pc
Pricing for the latest deals on the office towers in Sydney and Melbourne – worth close to half-a-billion dollars in total - shows just how far values have fallen.
- Campbell Kwan and Nick Lenaghan
Poor energy-efficient properties becoming stranded in Europe
More than half of 250 European commercial real estate portfolio managers surveyed acknowledge that more than 30 per cent of their assets are stranded.
- Frances Schwartzkopff
Employers lure workers back to office with promise of their own desk
Hot desking took off during the pandemic as a way to save money amid a new era of hybrid work. Now some firms are having second thoughts.
- Matthew Boyle