1. Skip to navigation
  2. Skip to content
  3. Skip to sidebar




Property News

Queensland's commercial real estate industry rides the resource wave

November 07, 2011

The ongoing resource boom is having a substantial knock-on effect to the commercial property market, with prime office space suddenly in demand in the sunshine state.

 

According to the executive director of the Queensland division of the Property Council of Australia (PCA) Kathy McDermott, the vacancy rate has undergone a substantial shift from a massive 15-year high of 11.3 per cent down to a respectable 7.4 per cent in just 18 months.

 

McDermott said: "In the six months to July, we saw the take-up rate in Brisbane's CBD running at more than triple the 20-year average."

 

The change comes as a result of increased operations from mining and resource companies such as Rio Tinto and BHP Billiton - with more workers required to handle the increased administrative detail.

It is easy to see how large companies such as these would also require additional professionals such as doctors, lawyers, accountants and other service providers - all of which would want to be geographically close to their new clients.

 

Because commercial property can play such an important role in determining the success of a business, the decrease in vacancy in a city where business is booming is understandable.

Latest Articles

Suburban retail popularity arises

Suburban retail popularity arises The residential construction boom has helped revive the ...
read more

Silverwater team takes home top international honours

LJ Hooker Commercial Silverwater has topped off a stellar 2015-16 by being crowned World Champion ...
read more

Camden Tigers fly the flag for the region

LJ Hooker Commercial Macarthur would like to congratulate Camden Tigers’ U/15 side for their ...
read more

Scientologists offer up Broadway HQ

The Sydney headquarters of the Church of Scientology at 19-37 Greek Street, Glebe, will be taken to ...
read more

Investors bid up commercial strata through southern fringe

Private investors are bidding up commercial and industrial strata prices throughout South Sydney as ...
read more

Former Dexus asset specialist joins LJ Hooker Commercial South Sydney

LJ Hooker Commercial South Sydney has appointed Mrs Aoife Bill to head its Asset Management ...
read more