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Archives: Melbourne Middle Markets (Offices)

In 2013 the CBRE Melbourne Middle Markets team was formed to cater for a market sector that was largely underserviced and required a specialised team approach. This has developed into a strategic alliance between agency operators in both the central city and suburban markets.

Our long and highly interactive affiliation with the Melbourne CBD, St Kilda Road, city fringe and suburban office market sectors, positions us strongly to offer experience, knowledge and innovative solutions to achieve premium prices for our clients.

With strong appetite from private investors, funds, institutions, syndicates and offshore buyers, together with historically low borrowing costs and high capital values, there has never been a better time to partner with CBRE to maximise the potential of your office assets.

19.07.2019

East Melbourne Property Update

East Melbourne is Synonymous with Wealth and Privilege, the suburb long having the reputation of being Melbourne’s most elite and prestigious location.  East Melbourne is renowned as the most elite residential precinct in Melbourne and is as close as you can get to the CBD. In a premium location, East Melbourne offers its residents an…

25.06.2019

Melbourne Middle Markets Market Update – Tuesday 25th June

Positive investor sentiment in the marketplace has translated into sales, with a number of deals being finalised for strong prices, and savvy vendors are taking full advantage.

30.05.2019

Landmark Dulux headquarters listed for sale by Salta Properties

Salta Properties has listed Melbourne’s landmark Dulux House building for sale as certainty returns to the commercial property market following the recent Federal election result. The CBRE Middle Markets team of Scott Orchard, Josh Rutman and Lewis Tong have been appointed to steer the Public Tender process for the Clayton property on behalf of Salta,…

22.05.2019

Melbourne Office Owners Sitting Pretty, But How Long will the Party Last?

As Melbourne experiences some of the strongest conditions for office landlords experienced in over a decade, most owners aren’t popping the champagne just yet. Whilst most buildings in the CBD and City Fringe have seen strong tenant uptake and growth in rentals, other concerns are starting to surface which may impact on their returns. A…

26.04.2019

Rent growth drives St Kilda Road office

– Prime rents up 27% in 12mths and expected to rise further – St Kilda Road office rents have grown nearly 50 per cent over the past seven years and a staggering 27 per cent in the past 12 months (to Dec) reflecting both the historically tight CBD market and the recent withdrawal of St…

23.04.2019

IPG puts Century Walk/Novotel on the block

Sydney-based advisory firm iProsperity Group has put two major assets – the Century City Walk Entertainment Centre and the adjoining 200-room Novotel Melbourne hotel – on the market in Glen Waverley, one of Melbourne’s key growth areas. Located on a 10,308 square metre site on Springvale Road, the 8,403 square metre (GLA) Century Walk Entertainment…

12.04.2019

Q1 2019 sees lower volume of office transactions despite peaking investor appetite

After a record-breaking run of sales in 2018, the Melbourne office investment market has started 2019 in a more restrained fashion, as transaction volumes dipped for the first quarter in the sub $150 million bracket of the sector. But it hasn’t been for lack of demand, as CBRE investor surveys reveal a major depth of…

15.02.2019

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…

06.02.2019

East Melbourne office building provides the first test of Melbourne’s investment market for 2019

Pent-up buyer demand and a shortage of available, investment grade property has prompted the owners of an East Melbourne office freehold to list the property for sale. CBRE’s Melbourne Middle Markets division has been exclusively appointed to market 122-130 Wellington Parade following one of the strongest years for the Melbourne office market since 2008. CBRE…

21.01.2019

BURGEONING ACTIVITY IN MELBOURNE’S SUBURBAN OFFICE PARKS

Tightening vacancy rates in the Melbourne CBD and fringe office markets are driving increased activity in and around suburban office parks, with a flurry of recent leasing and sales transactions. A new CBRE review points to particularly strong activity in Melbourne’s east and south-east corridors, as highlighted by major sales in the Tally-Ho Business Park in Burwood East as one example.

Heightened investor and tenant confidence has also spurred a range of proposed development projects, including a mixed-used development at Burwood East on the China Bar site at 380 Burwood Highway.

The project, which recently received VCAT planning approval, will include office accommodation, several levels of residential apartments, improved retail amenity and a new China Bar restaurant.

17.01.2019

Suburban office sales up 34% on 2017

Melbourne’s suburban office market is back in favour in no uncertain terms with local and offshore investors producing a turnaround in sales of nearly 34 per cent over the previous 12 months according to CBRE research.

Data from Research Analyst, Verity Jenkins, has revealed the number of properties sold in 2018 rose 52 per cent over 2017 while $ sales volumes lifted from $624 million to $836 million in the year to date.

State Director Melbourne City Sales & Middle Markets, Josh Rutman, said the suburban market had been the real surprise packet of 2018.

20.12.2018

Pellicano and Camlen Property Group round out 2018 with off-the-plan Ringwood sale

A Macau-based private investor has pre-purchased an office development in Ringwood for $28,300,000 in a sign of the continued strength in Melbourne’s suburban office market.

The 60-62 Maroondah Highway project is 100% pre-leased to the Victoria’s Department of Treasury and Finance on a 12-year term.

It is being delivered by a joint venture between renowned builder/developer Pellicano Group and investment manager Camlen Property Group, with completion anticipated in May 2020.

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