As Melbourne is heading towards longer evening trade, the CBD has seen an increase from tenants to secure prime spaces in all pockets of the vibrant city. CBRE is set to launch and market two unique rooftop spaces on behalf of a private owner and GPT at 392-406 Bourke Street and 32 Flinders Street respectively.…
Melbourne’s suburban office market takes centre stage in 2018
A hefty $722 million in larger suburban office assets of a total pool of $1.44 billion changed hands in Melbourne last year according to new CBRE data highlighting broader buyer demand and further yield compression.
The CBRE figures relate to office properties outside of the CBD and St Kilda Road office markets valued at between $10 million and $100 million.
CBRE Melbourne Middle Markets Director Scott Orchard said a total of 26 properties traded representing 50% of total sales volumes – continuing the momentum from 2017 when 24 properties traded for a total of circa $640 million.