Cushman & Wakefield’s National Director of Research Tony Crabb presented at the Australian Property Institute and Real Estate Institute of Victoria’s 2018 State of the Market recently held in Melbourne.
Tony discussed the billions of dollars of infrastructure investment occurring in Victoria, including the new Greensborough to Bulleen Freeway, Westgate Tunnel, Webb Dock expansion and the Port Melbourne upgrade as well as the Inland Rail project between Melbourne and Brisbane.
Tony shared further insights on the Victorian industrial market, rents (remaining largely unchanged), incentive levels, yields (which have essentially halved since the GFC) and median vacancy rates are generally steady, remaining at around 6%. He shared that the tightest vacancy is at the Port precinct of only 0.5% followed 3.7% within the airport region and 5.5% in Dandenong.
Tony explored what’s next for industrial, sharing a fascinating insight into the march of technology, focussing on driverless vehicles, drones, robots, mechanisations, sensors and tags and their anticipated impact on the industry.
Click here for a summary of Tony’s presentation, and here to contact Tony and learn more.