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Property News

Melbourne, Brisbane and Perth office space 'appealing'

December 01, 2011

AMP Capital will focus on acquiring office and industrial property and will redevelop its existing retail assets as part of its investment strategy in the current economy.

According to Andrew Bird, AMP Capital chief investment officer, the two-speed economy is making office spaces more attractive particularly in Perth and Brisbane as the resource sector continues to perform, Money Management reports.

He also mentioned that the general soundness of the Victorian economy also make Melbourne a viable investment option.

And it would seem that AMP Capital is not the only commercial property investor that takes this view.

The Australian estimated last week that $550 million dollars of deals involving office space would go through by the end of November and the Property Review used the words ''mother of all booms'' to describe the coming situation in the Perth office space market.


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