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

LJ Hooker Commercial Launches Office Market Monitor 1H 2015

This LJ Hooker Commercial Office Market Monitor looks at the recent performance of office markets ...
read more

PCA Innovation & Excellence Awards 2015

This month, LJ Hooker Commercial was privileged to support the Property Council of ...
read more

LJ Hooker Commercial launches Industrial Market Monitor IH 2015

We are excited to launch the LJ Hooker Commercial Industrial Market Monitor 1H 2015.   This ...
read more

National Portfolio Magazine

We are very pleased to present the March 2015 edition of the LJ Hooker Commercial National ...
read more

Win One Million Qantas Points

Check-in with LJ Hooker Commercial to WIN* the trip of a lifetime! Whether you are selling or ...
read more

10 things to consider when a business seeks new premises

Seeking new office premises is not an easy decision but one that can take considerable time and ...
read more