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North Shore Office and Business Park Market Overview

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North Shore Office & Business Park Market Overview

Report Highlights:


  • Development activity remains substantially pre-commitment based with commercial construction relying on a major anchor for a project to get underway.
  • A significant increase in capital seeking metropolitan based assets whether small or large in value, and with an increased risk profile.
  • Vacancy has tumbled to 7.2%, the lowest in nearly 15 years. The anticipated upcoming period of lower vacancy is a precursor to notable rental growth.
  • A shortage of A Grade supply has emerged for the smaller tenancy sector (200-300sqm), and a shortage of warehousing in business parks in particular.
  • The $2 Billion Northern Beaches Hospital and associated road network is significantly progressed with residential and medical related construction anticipated to boom in the surround during 2017-2018.

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Authors


John Sears

National Director, Research
Direct: +61 2 8243 9973
Mobile: +61 466 387 016
john.sears@cushwake.com


Mark Martin

Senior Director, Agency Services
Direct: +61 9229 6828
Mobile: +61 412 699 662
mark.martin@cushwake.com