The office market in Melbourne CBD’s grid carries a vacancy rate of 11.1%.
Tenants continue to be attracted to new buildings on the fringe of the CBD.
There are 111 full floors available now for lease in Prime Grade buildings.
Net absorption in the CBD grid in the year to June 2013 year was -117,572 square metres.
Savills recorded $1.55 billion of transactions in the CBD in the twelve months to June 2013.
Funds & Trusts together accounted for 66% of investment stock sales volume.
An environment of subdued leasing demand alongside project completions has provided for increased vacancies andmaintained high levels of incentives for the CBD.
Source : Savills