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

National Portfolio Magazine

The 1st Edition for 2014 of the LJ Hooker Commercial National Portfolio Magazine is now ...
read more

LJ Hooker Commercial completes global brand refresh

Today marks a key milestone for LJ Hooker in Australia and New Zealand with the announcement of the ...
read more

LJ Hooker expands its reach in Tasmania

LJH Commercial Hobart has strategically bolstered its presence and services for Tasmanian clients ...
read more

LJ Hooker snaps up Billicorp and builds on South Sydney presence

LJ Hooker has continued to build its presence in the commercial and industrial real ...
read more

LJ Hooker Commercial plans to expand

LJH Commercial has set its sights on Victoria as it continues to expand its network of offices ...
read more

Book an appraisal today for your chance to win 1,000,000 Qantas points!

When did you last check the worth of your Commercial property investment?   People often ...
read more