The head of a large property fund says employees are more willing to commute and work in an office when it’s located on the CBD’s fringe.
Employees are more willing to commute and work in an office when it’s located on the CBD’s fringe says the boss of a large property fund citing leasing data to back up its claim.
Growthpoint’s strategy of owning and leasing out office blocks in key metro areas on the fringe of Brisbane, Melbourne and Sydney’s CBDs appears to be paying off. Sydney and Melbourne’s CBDs, conversely, have gone backwards, with more tenants giving up space than new ones arriving. Dexus, in a first quarter update this week, said its office occupancy was lower at 93.5 per cent, down from 94.8 per cent at the end of the previous financial year. Leasing volumes were almost half the five-year quarterly average at 22,000 square metres.
Dexus chief executive Ross Du Vernet, who took over the top job in March, attributed the group’s lower occupancy to an “anticipated expiry” at its 80 Collins Street office in Melbourne.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
'Large criminal networks' scamming Australians with fake, imported smartphonesMore Aussies are falling victim to an organised criminal underground selling counterfeit smartphones, designed to look and feel like the real deal.
Read more »
China launches large-scale military drills around Taiwan after President Lai’s National Day speechPeople’s Liberation Army criticises ‘separatist acts’ and says all branches of the military were involved in exercises around Taiwan
Read more »
China deploys record 125 warplanes in large-scale military drill in warning to TaiwanMonday&x27;s exercise simulated the sealing off of key ports in a move that underscores the tense situation in the Taiwan Strait.
Read more »
Irregular migration into UK and large European countries is same as 2008, research showsDespite hostile political discourse about migrants, the numbers are steady, at less than 1% of total population
Read more »
John Pesutto facing possible Victorian Liberal leadership challenge as Moira Deeming defamation trial looms largePressure is mounting on the Victorian Liberal leader, with a group of MPs planning a leadership contest as the Moira Deeming defamation case looms over the party.
Read more »
Large French Alpine ski resort to close in face of shrinking snow seasonLocal people and businesses left ‘in lurch’ after council says it cannot afford to support or develop Alpe du Grand Serre
Read more »