Assessing the long-term potential of Macquarie Park
|
|
- Howard Reed
- 5 years ago
- Views:
Transcription
1 Assessing the long-term potential of Macquarie Park March 2016 Summary The Macquarie Park office market acts as a business cluster for companies in the health, education and technology sectors. The cluster is well developed with 12 of the world s largest companies by market capitalisation located in Macquarie Park. Population growth in the North and West Central subregions is projected to exceed the rate for metropolitan between 2016 and Adding the population forecasts for the LGAs west of the City of in the Central sub-region expands the workforce catchment of Macquarie Park to over 50% of metropolitan s population by New infrastructure supports the attractiveness of Macquarie Park as a destination for a diverse cohort of office occupiers. Metro Northwest which will integrate with existing train stations at Macquarie Park and North Ryde is scheduled to open in Macquarie Park is the largest monitored A Grade office market in metropolitan (outside of the CBD). The demand led asset creation cycle has resulted in 44.7% of office product in Macquarie Park being less than 10 years old. Pricing in Macquarie Park presents a cyclical opportunity for investors seeking exposure to the growth sectors of the Australian economy. The prime yield spread, at the tighter end of the range between Macquarie Park and Parramatta is 50 basis points 40 basis points wider than the long-term average of 10 basis points. A more relevant office market New development activity has resulted in the Macquarie Park office market increasing from 135,800 sqm in 2000 to 723,500 sqm in Development in Macquarie Park has been demand-led with purpose-built campus facilities for multi-national corporations in the technology, pharmaceutical and education sectors. As a result, Macquarie Park has accounted for a high proportion of s underlying demand growth with net absorption of 316,100 sqm recorded between 2005 and To put the net absorption result in context, Macquarie Park recorded stronger net absorption than every other monitored metropolitan office market, the Brisbane CBD (172,800 sqm) and Perth CBD (103,000 sqm) over the same time period. Macquarie Park comprises 723,500 sqm of office stock. Table 1 shows the composition of s metropolitan office markets. Macquarie Park is the largest A Grade market and accounts for 21.0% of A Grade stock across the monitored metropolitan office markets. Table 1: Metropolitan office markets Market Number of A Grade Assets A Grade Stock % of total A Grade Macquarie Park , Fringe , North , Parramatta , Olympic Park / Rhodes , Norwest , Chatswood 8 148, South , St Leonards , Total 191 2,359,900
2 The asset creation cycle in Macquarie Park has increased the number of modern A Grade assets in the precinct. JLL Research tracks 40 A Grade assets in Macquarie Park. Approximately 45% of product in Macquarie Park is less than 10 years old. The completion of new product and the appreciation of asset values have increased the investable universe of Macquarie Park. Capital stock by value in Macquarie Park has increased by 12.7% per annum between 2001 and We have assessed the capital stock by value of Macquarie Park at $3.4 billion. For a fund manager seeking to achieve diversification across an office portfolio, Macquarie Park has become a more relevant investment destination. Figure 1: Capital stock by value $, million $7,000 $6,000 $5,000 $4,000 $3,000 $2,000 $1,000 $0 Macquarie Park Chatswood St Leonards Parramatta North Exposure to growth sectors of the economy Macquarie Park acts as a cluster of interconnected businesses, suppliers and associated institutions in the education, health care (including pharmaceuticals) and ICT (information, communications and technology) industry sectors. Clustering provides the catalyst for three important activities: increased productivity, more rapid innovation and new business formation. Anchor tenants of Macquarie Park are large multinational corporations. PwC produces an annual publication ranking the top 100 companies in the world by market capitalisation 1 (Table 2). Macquarie Park is the Australian headquarters for a number of the world s largest companies with 12 of the top 100 companies by market capitalisation located in Macquarie Park. Furthermore, Macquarie Park is the headquarters for four companies included on the S&P/ASX 100 Index Sonic Healthcare, TPG Telecom, Aristocrat Leisure and Cochlear. Table 2: Companies located in Macquarie Park and ranked in the global top 100 by market capitalisation Name Nationality Rank Market Cap (USD, bn) Microsoft US Johnson & Johnson US Novartis Switzerland Pfizer US Oracle US Merck & Co US Sanofi France Amegen US Medtronic Ireland M Co US Biogen Idec US AstraZeneca UK 97 87, PwC Macquarie University provides access to highly skilled labour for multinational corporations and domestic companies in the Macquarie Park precinct. The University is ranked by QS World University Rankings in the top 8% of 3,551 evaluated universities 2 and has approximately 39,000 students enrolled. While limited research is currently undertaken by high-tech companies in Macquarie Park, Johnson & Johnson signed a relationship with the University in 2014 to help forge long-term links between the University and the worldwide research arms of Johnson. Deeper and more strategic relationships between the University and large multinational corporations will increase the retention rates of tenants in the Macquarie Park precinct. The Health Care, Information Services and Education sectors are growth sectors of the Australian economy. Deloitte Access Economics projects the Australian economy will grow by an average of 2.6% per annum between 2015 and 2020 below the long-term average of 3.2% per annum recorded between 1995 and However, the aggregate output from the Health Care, Information Services and Education sectors is forecast to grow at a faster rate (3.2% per annum) than the domestic economy (2.6% per annum) between 2015 and As a result, these three industry sectors will make relatively larger contributions to the Australian economy and are projected to comprise 17.1% of economic output by The expansion of these sectors will underpin tenant demand in Macquarie Park. 1 PwC, Global Top 100 Companies by Market Capitalisation, March QS World University Rankings, Assessing the long-term potential of Macquarie Park March 2016
3 Figure 2: Industry sector output, 2015 to 2020 Y/Y, % Change 10% 8% 6% 4% 2% 0% An affordable destination for corporates, Deloitte Access Economics Macquarie Park prime rents have trended higher since a cyclical low was recorded in 1Q10. JLL has recorded an increase in prime gross effective rents of 17.5% between 1Q10 and 4Q15. Nevertheless, Macquarie Park remains an affordable destination for tenants. Figure 3 shows average prime gross effective rents in 4Q15 across a number of office markets. We have indexed the 4Q15 observation for Macquarie Park to 100. The affordability of Macquarie Park is highlighted with average prime gross effective rents 55.1% lower than the CBD and 15.8% below the average recorded for Parramatta. Figure 3: office markets prime gross effective rents Macquarie Park = Information Services Health Care Education Others The Macquarie Park development outlook, measured as projects under construction, is moderate with 8,000 sqm of space under construction, equating to 1.1% of total stock. The only development currently under construction is Talavera Road (8,077 sqm) and the project is partly pre-committed by AstraZeneca. Growth in tenant demand, limited new supply and tight A Grade vacancy will exert upward pressure on rents. Prime gross effective rents increased by 5.2% in 2015 and are expected to increase by a further 4.3% in Improved accessibility and greater amenity The workforce catchment for Macquarie Park will expand through strong population growth, while the provision of new infrastructure will improve the accessibility of Macquarie Park. The NSW Department of Planning & Environment divides its strategy for metropolitan into six sub-regions. The City of Ryde is located in the North sub-region, while the West Central sub-region would also form part of the workforce catchment for businesses located in Macquarie Park. The combined population growth of these two sub-regions is projected to be stronger than metropolitan increasing by an average of 1.9% per annum between 2016 and By 2026, the NSW Department of Planning & Environment forecasts 44.2% of metropolitan s population will reside in the North and West Central sub-regions (Figure 4). If we supplement the workforce catchment of Macquarie Park with the Local Government Areas (LGAs) west of the City of in the Central sub-region, the catchment of Macquarie Park increases to over 50% of metropolitan s resident population by Figure 4: Composition of metropolitan population, South 7.6% 100 South West 15.4% North 19.5% 50 Macquarie Park Parramatta Olympic Park Chatswood St Leonards Fringe North CBD The medium-term rent outlook for Macquarie Park is firm. A Grade vacancy is tight at 6.6% and limited options exist for contiguous space. For a tenant seeking 1,500 sqm of A Grade space outside of the sub-lease market, seven options are available. In a normal short-listing process, approximately half of the available options are discounted based on price and location, reducing the number of viable options for a 1,500 sqm tenant to three or four. South 13.9% Central 19.0% West Central 24.7%, NSW Department of Planning & Environment 3 Assessing the long-term potential of Macquarie Park March 2016
4 Metro is Australia s largest public transport infrastructure project. Metro Northwest (formerly the North West Rail Link) is the first stage of Metro and is scheduled to open in the first half of The Metro Northwest will be integrated with the existing Macquarie Park and North Ryde train stations. New public transport infrastructure improves the accessibility of Macquarie Park, making it a more attractive and accessible destination for workers and future residents. The redevelopment of the Macquarie Centre shopping centre in 2014 improved the retail amenity for occupiers of Macquarie Park. AMP has recently lodged a Stage 1 Concept Plan DA to guide the future development of the Macquarie Centre. The development application seeks approval for: an expansion of the shopping centre along Herring Road, building envelopes for four mixed use towers (148,000 sqm) and additional car parking (2,175 spaces). A cyclical investment opportunity Transaction evidence in a number of non-cbd office markets has reflected new pricing benchmarks for modern, long-dated lease product. Capital has been concentrated on North, Parramatta and Macquarie Park. From a pricing perspective, Macquarie Park is typically benchmarked to Parramatta and the industrial sector. Figure 5 shows yield movements from the start of 2007 to The tighter end of the JLL yield range has been adopted to control for product quality and allow a more relevant comparison between markets. Asset pricing has moved below 2007 levels. However, the yield spread between s Outer Central West and Macquarie Park is 25 basis points a reversal of the long-term average where office assets in Macquarie Park are assessed on tighter yields than the industrial sector. Based on this analysis, asset pricing in Macquarie Park is attractive relative to the industrial sector. Figure 5: Prime equivalent yield movements, 2007 to 2015 Conclusion Investors are attracted to sectors and markets with long-term growth potential. Macquarie Park is intrinsically linked to growth sectors of the Australian economy and will benefit from the organic expansion of the existing tenant base and new entrants into the precinct. Furthermore, population growth and new infrastructure increases the workforce catchment and accessibility of Macquarie Park, while the development of strategic relationships between the University and anchor tenants will further entrench multinational corporations in the precinct. The medium-term supply outlook is well managed with only one project under construction (8,077 sqm), equating to 1.1% of total stock. One of the identified long-term risks in Macquarie Park is the availability of development sites. JLL is tracking 177,600 sqm worth of potential projects which are at various stages of planning and marketing. However, new developments are unlikely to commence without pre-commitment, while the highest and best use for sites with mixed use zoning is residential. Nevertheless, in the medium-term Macquarie Park offers a cyclical investment opportunity. Yield spreads between Macquarie Park and s Outer Central West are wider than historical benchmarks. A wide yield spread can be partly explained by rental growth expectations. However, we project prime gross effective rents will increase by 4.3% in Macquarie Park, along with the CBD and Parramatta, will accommodate the bulk of the growth in s office stock over the next decade. As Macquarie Park gains scale and liquidity improves, it will be re-rated by investors as an investment destination. A re-rating ultimately flows through to narrower yield spreads between Macquarie Park and other office markets. Authors: Basis Points Macquarie Park Parramatta Outer Central West (Industrial) Andrew Ballantyne Head of Strategic Research Australia JLL tel: andrew.ballantyne@ap.jll.com Denys Bizinger Head of North Office & Industrial Sales & Leasing NSW JLL tel: denys.bizinger@ap.jll.com 4 Assessing the long-term potential of Macquarie Park March 2016
5 JLL offices Adelaide Level 22, Grenfell Centre 25 Grenfell Street Adelaide SA 5000 tel Brisbane Level 33, Central Plaza One 345 Queen Street Brisbane QLD 4000 tel Canberra Level 7, 121 Marcus Clarke Street Canberra, ACT, 2601 tel Glen Waverley Building Springvale Road Glen Waverley VIC 3150 tel Mascot Level 3, Airport Centre 15 Bourke Road Mascot, NSW, 2020 tel Melbourne Level Collins Street Melbourne VIC 3000 tel North Level 33, North Point 100 Miller Street North NSW 2060 tel Parramatta Level 8, 79 George Street Parramatta NSW 2150 tel Perth Level 29, Central Park St George s Terrace Perth WA 6000 tel Level 25, 420 George Street NSW 2000 tel COPYRIGHT JONES LANG LASALLE All rights reserved. For further details or to unsubscribe, please joneslanglasalle.research@ap.jll.com. The items in this publication have been compiled from the various sources acknowledged. The information is from sources we deem reliable; however, no representation or warranty is made to the accuracy thereof.
The Melbourne CBD: What is driving centralisation?
November 2013 The Melbourne CBD: What is driving centralisation? Key Points Jones Lang LaSalle recorded a notable increase in the number of city Fringe 1 occupiers migrating to the Melbourne CBD over the
More informationNew CBD office supply is improving the quality of stock
Australia Office, Q3 215 New CBD office supply is improving the quality of stock National CBD WCE Jun-15.9% p.a National CBD Net Absorption 215 153,sqm F National CBD Net Supply 215 361,sqm F National
More informationGOING PLACES MACARTHURCOOK OFFICE PROPERTY TRUST
GOING PLACES MACARTHURCOOK OFFICE PROPERTY TRUST ANNUAL REPORT 2006 1 2 3 4 1 2 181 Miller Street, North Sydney, NSW 150 170 Leichhardt Street, Spring Hill, Brisbane, QLD 3 4 38 Akuna Street, Canberra,
More informationDemand set to continue for Sydney Suburban Office
March 2012 Demand set to continue for Sydney Suburban Office Key Points Buyer activity was steady in the Sydney Suburban office market, with interest directed towards prime Suburban assets. Prime yields
More informationExecutive summary. Project description. Project name. Project address. Apartment mix. Deposit required. Estimated construction commencement date
Investor Report Executive summary Project name Highline westmead Project address 158 164 Hawkesbury Road,, NSW 2145 Apartment mix Studio, 1, 2 and 3 bedroom apartments Deposit required 10% Deposit (cash
More informationParramatta Reversing the prime-grade office slide
September 2013 Parramatta Reversing the prime-grade office slide Key Points With the largest employment catchment area in metropolitan Sydney, Parramatta has evolved into Sydney s third largest office
More informationInvestor Report. Connecting the best of both worlds
Investor Report Connecting the best of both worlds Executive summary Project & display address 1015 Pacific Highway, Roseville, NSW 2069 Project description Rose is a mixed-use development located within
More informationOUTLOOK EAST LEPPINGTON
OUTLOOK EAST LEPPINGTON A CONTEXT ON BUSINESS, CULTURE, LIFESTYLE AND RESIDENTIAL Located within the rapidly expanding South West Growth Centre of Sydney, the East Leppington Precinct is well positioned
More informationMARKET OUTLOOK. 01 Walkability & Accessibility 02 Infrastructure & Employment 03 Population & Demographics 04 Residential Market 05 Rental Market
MARKET OUTLOOK BRAYBROOK Close to the city in Melbourne s growing west, access to jobs, services and relative affordability are attracting new residents to Braybrook and driving price growth. 01 Walkability
More informationDEXUS Property Group (ASX: DXS) ASX release
6 May 2013 DEXUS and DWPF to acquire strategic office investment in Perth DEXUS Property Group (DEXUS or DXS) and DEXUS Wholesale Property Fund (DWPF) today announced the joint acquisition of a strategic
More informationQUARTERLY UPDATE 31 MARCH 2017
AUSTRALIAN PROPERTY OPPORTUNITIES FUND QUARTERLY UPDATE 31 MARCH 2017 The Australian Property Opportunities Fund (APOF I or the Fund) is pleased to provide this update for the March quarter 2017 (Q1 2017)
More informationOffice Market Report July 2014
Office Market Report July 2014 Australian Non CBD vacancy is less than that of the CBD for this first time since January 2001 Australian CBD v Non CBD Vacancy July 1990 to July 2014 25% Australian CBD
More informationWhat will a broad-based economic recovery mean for the Brisbane office leasing market?
2 21 22 23 24 25 26 27 28 29 21 211 212 213 214 215 216 What will a broad-based economic recovery mean for the Brisbane office leasing market? December 216 Summary Introduction Vacancy in the Brisbane
More informationm3commentary MELBOURNE CBD OFFICE
m3commentary MELBOURNE CBD OFFICE Spring 2016 Key Research Contacts: Jennifer Williams National Director NSW (02) 8234 8116 Erin Obliubek Research Manager VIC (03) 9605 1075 Casey Robinson Research Manager
More informationGOLD COAST OFFICE OVERVIEW
GOLD COAST OFFICE OVERVIEW JANUARY 2014 Gold Coast OVERVIEW Gold Coast office stock at January 2014 totalled 459,890 sqm, down by almost 4,000 sqm on the mid-year stock level. Around 2,000 sqm of refurbished
More informationADVISORY. RESEARCH. VALUATIONS. PROJECTS.
ADVISORY. RESEARCH. VALUATIONS. PROJECTS. Melbourne Level 19/8 Exhibition Street Melbourne VIC 3000 T +61 (0) 3 8102 8888 Sydney Level 25/52 Martin Place Sydney NSW 2000 T +61 (0) 2 8228 7888 Singapore
More informationGOLD COAST OFFICE OVERVIEW
GOLD COAST OFFICE OVERVIEW Q1 2015 Gold Coast OVERVIEW Gold Coast office stock at January 2015 totalled 472,022sqm, up by just over 12,000sqm over the past year. The only new building completed in 2014,
More informationOUTLOOK WATERLOO. Waterloo is a growing residential market, boasting high amenity that is well located to a number of major employment centres.
OUTLOOK WATERLOO A CONTEXT ON BUSINESS, CULTURE, LIFESTYLE AND RESIDENTIAL Waterloo is a growing residential market, boasting high amenity that is well located to a number of major employment centres.
More informationDEXUS Property Group (ASX: DXS) ASX release
11 February 2016 DEXUS and DWPF acquire North Sydney site for premium office development DEXUS Property Group (DEXUS) and DEXUS Wholesale Property Fund (DWPF) today announced that they have jointly entered
More informationAustralian Student Accommodation Market Update June 2015
Australian Student Accommodation Market Update 2015 June 2015 JLL s second student accommodation market update provides an overview of Purpose Built Student Accommodation (PBSA) in Australia. Over the
More informationGREATER SYDNEY SUPPLY & DEMAND. Tourism Accommodation Australia 31 May 2017
GREATER SYDNEY SUPPLY & DEMAND Tourism Accommodation Australia 31 May 2017 OVERVIEW 1 Trading Performance 4 Summary 2 Supply & Demand 5 Questions 3 Hotel Investment Market TRADING PERFORMANCE Sydney City
More informationThe Residential Outlook for South Australia
The Residential Outlook for South Australia Matthew King Economist HOUSING INDUSTRY ASSOCIATION February 2011 Overview Economic backdrop Other important matters Interest rates & bank lending Renovations
More informationSydney CBD Market Commercial Market Overview - Jul 2015
Sydney CBD Market Commercial Market Overview - Jul 2015 Contents The Sydney CBD Market... 4 The Sydney CBD Market - Summary... 5 The Sydney CBD Market - Overview... 6 The Sydney CBD Market - Commercial
More informationJLL NATIONAL RETAIL INVESTMENTS AUSTRALIAN MARKET LEADERS TRANSACTION SUMMARY
JLL NATIONAL RETAIL INVESTMENTS AUSTRALIAN MARKET LEADERS TRANSACTION SUMMARY FEBRUARY 2017 $7.3 billion sold Exceeding long term averages Market Highlights Sub-regional most active category 28% of transaction
More informationState of the States October 2017 State & territory economic performance report. Executive Summary
State of the States October 2017 State & territory economic performance report. Executive Summary NSW ON TOP; VICTORIA CLOSES IN How are Australia s states and territories performing? Each quarter CommSec
More informationOffice Market Report January 2013 Presented by Adrian Harrington Head of Funds Management - Folkestone
Office Market Report January 2013 Presented by Adrian Harrington Head of Funds Management - Folkestone Jan-95 Jan-96 Jan-97 Jan-98 Jan-99 Jan-00 Jan-01 Jan-02 Jan-03 Source: Property Council of Australia
More informationFUTURE TRANSPORT STRATEGY AND GREATER SYDNEY SERVICES AND INFRASTRUCTURE PLAN. Western Parkland City
FUTURE TRANSPORT STRATEGY AND GREATER SYDNEY SERVICES AND INFRASTRUCTURE PLAN Western Parkland City 2 Transport for NSW Future Transport Strategy and Greater Sydney Services and Infrastructure Plan Western
More informationNORTH WEST GROWTH CENTRE
OUTLOOK NORTH WEST GROWTH CENTRE A CONTEXT ON BUSINESS, CULTURE, LIFESTYLE AND RESIDENTIAL The North West Growth Centre is an emerging residential market that is expected to benefit from strong infrastructure
More informationMARKET OUTLOOK. 01 Walkability & Accessibility 02 Infrastructure & Employment 03 Demographics 04 Residential Analysis 06 Rental Analysis
MARKET OUTLOOK EAST LEPPINGTON Located within the rapidly expanding South West Growth Centre of Sydney, the East Leppington Precinct is well positioned to benefit from the region s strong infrastructure
More informationmarket-view Australian housing markets report Residential construction on the rise - higher and higher?
Australian housing markets report Residential construction on the rise - higher and higher? Dr Andrew Wilson Chief Economist Domain Group October 2016 Copyright 2016 Dr Andrew Wilson all rights reserved
More informationhttps://gsc-public-1.s3-ap-southeast-2.amazonaws.com/s3fs-public/draft-eastern-city-district-plan.pdf
GSC Sydney East Rev Draft -references Port Botany - 30 https://gsc-public-1.s3-ap-southeast-2.amazonaws.com/s3fs-public/draft-eastern-city-district-plan.pdf Pages 6. The District s freight routes, particularly
More informationRETAIL AND COMMERCIAL OFFICE STRATEGY
RETAIL AND COMMERCIAL OFFICE STRATEGY APPENDIX DD Appendix DD Sydney Metro City & South West Victoria Cross Over Station Development: Retail and commercial office strategy report Applicable to: Author:
More informationA Conversation With Folkestone. November 2017
A Conversation With Folkestone November 2017 1 POPULATION GROWTH BY STATE Australian Population Growth by State: March 2017 Population (m) Growth in Year ( 000) % Change in Year VIC 6.3 149.4 2.4 ACT 0.4
More informationDexus Property Group INVESTOR PORTFOLIO
Dexus Property Group INVESTOR PORTFOLIO 31 December 2017 www.dexus.com Table of Contents GP Plus Healthcare Centre, 16 Playford Boulevard, Elizabeth 1 15-23 Whicker Road, Gillman 1 Westfield West Lakes,
More informationHousing Outlook. Mr Sam White, Ray White Group Mr Harley Dale, Housing Industry Association. 29 October 2007
Housing Outlook Mr Sam White, Ray White Group Mr Harley Dale, Housing Industry Association 29 October 2007 Australian Business Economists October 2007 Presented by Sam White Average Prices 700,000 600,000
More informationKey Findings RESEARCH & CONSULTING. Population growth in Newcastle expected to average 1,770 persons per annum between 2014 and 2031
RESEARCH & CONSULTING Key Findings Population growth in Newcastle expected to average 1,77 persons per annum between 214 and 231 Gross Regional Product (GRP) was estimated to be $14.23 billion as at 214,
More informationTOWN PLANNING SUBMISSION TO THE GREATER SYDNEY COMMISSION LANDS AT ARTARMON
TOWN PLANNING SUBMISSION TO THE GREATER SYDNEY COMMISSION LANDS AT ARTARMON March 2017 TABLE OF CONTENTS 1.0 INTRODUCTION 3 2.0 THE SUBJECT SITE 4 3.0 STRATEGIC PLANNING CONTEXT 6 4.0 SUMMARY AND CONCLUSIONS
More informationinvestment ProSPeCTuS 2016 SuMMary
investment ProSPeCTuS 2016 SuMMary 2 invest SuNShiNe CoaST - The future is here MeSSaGe from The Mayor MeSSaGe from The Mayor a CiTy region of opportunity The Sunshine Coast offers investors an unrivalled
More informationWHY INVEST IN QUEENSLAND URBIS MARKET OUTLOOK
WHY INVEST IN QUEENSLAND URBIS MARKET OUTLOOK WHO IS URBIS? PERTH AUSTRALIA ADELAIDE BRISBANE GOLD COAST SYDNEY MELBOURNE Urbis is an integrated multi-disciplinary consulting firm with a unique and comprehensive
More informationInvestor Briefings First-Half FY2016 Financial Results
Cedar Woods Properties Limited Investor Briefings First-Half FY2016 Financial Results 26 February 2016 Cedar Woods Presentation 2 Snapshot of Achievements in FY2016 Extensive portfolio of residential estates
More informationGRANT THORNTON BANKERS BOOT CAMP
GRANT THORNTON BANKERS BOOT CAMP Where are we in the cycle? Yield compression slowing, rents growing Yields bottoming but the bottom could last till 2020 The end of yield compression brings income return
More informationInvestment focus on Melbourne. December 2016
Investment focus on Melbourne December 2016 Melbourne is experiencing a phase of extraordinary positivity that is extending across all of its property markets. This is illustrated in the Q316 take-up figures
More informationJanuary Productivity Profile. Greater Sydney Productivity Profile
Greater Sydney Contents 6.2 Strategic and District Centres North District 35 Chatswood Strategic Centre 37 Macquarie Park Strategic Centre 38 01 Overview 3 1.1 Purpose 3 North Sydney Strategic Centre 39
More informationLMW Link. Brisbane CBD Office ~ August For more information. Brisbane CBD Office Indicators
~ August 216 Indicators Indicator Jul 214 Jan 215 Jul 215 Jan 216 Jul 216 Total Stock 2,199,1 2,193,83 2,158,29 2,157,34 2,261,878 Vacancy Rate 14.7% 15.5% 14.9% 14.9% 16.9% Annual Net Absorption (sq m)
More informationThe GPT Group today announced its operational update for the March 2017 quarter.
THE GPT GROUP ANNOUNCES 27 April 2017 March Quarter Operational Update The GPT Group today announced its operational update for the March 2017 quarter. Key Highlights Retail specialty sales growth of 2.4
More informationInternational Towers Sydney
March 2013 International Towers Sydney New development is shaping the future of Sydney as a global finance centre 2 Advance Executive summary The Sydney CBD is ageing. Almost 50% of the 5.0 million sqm
More informationIN FOCUS NSW. Developing Western Sydney
IN FOCUS NSW Developing Western Sydney DEVELOPING WESTERN SYDNEY Introduction Western Sydney is one of the fastest growing regions in Australia. Traditionally infrastructure expenditure and development
More informationAustralian Property Directions Survey Commercial, Industrial, Retail and Trusts
Australian Property Directions Survey Commercial, Industrial, Retail and Trusts NOVEMBER 2016 This is the 36th API Australian Property Directions Survey conducted by the Australian Property Institute.
More informationSydney Metropolitan Office
CBRE Sydney Metropolitan Office www.cbre.com.au/research Third Quarter 211 Quick Stats Change from last Yr. Qtr. Economic Growth White collar employment New supply Net absorption Total Vacancy Prime rents
More informationPrecinct Properties New Zealand Investor Day PRECINCT PROPERTIES, INVESTOR DAY- Page 1
Precinct Properties New Zealand Investor Day PRECINCT PROPERTIES, INVESTOR DAY- Page 1 November 2017 Today we re focussed on Our strategy portfolio transformation Portfolio and market overview Hot topics
More informationWestern Sydney Australia's development site
2018 Real Estate Outlook Market and investment Western Sydney Australia's development site The surge in infrastructure development and real estate construction projects to accommodate Sydney s growing
More informationSunshine Coast: Kawana Health Campus. December 2013
Sunshine Coast: Kawana Health Campus December 2013 Kawana Health Campus Residential development at Birtinya* Overview The Kawana Health Campus will comprise state-of-the-art public and private hospital
More informationFCOT Portfolio detail as at 30 September 2017
FCOT Portfolio detail as at 30 September 2017 Portfolio Composition 2 Asset values Net property income TOTAL: S$2,070.9 million as at 30 September 2017^ Singapore: S$1,212.0 million (59%) Australia: S$858.9
More informationAustralian Casino Association ECONOMIC REPORT. Prepared for. Australian Casino Association. June Finance and Economics
Australian Casino Association ECONOMIC REPORT Prepared for Australian Casino Association June 2004 Finance and Economics Contents Executive Summary--------------------------------------------------------------------------------------------
More informationCitigroup Investor Conference October 2010
Citigroup Investor Conference October 2010 Disclaimer Important information This presentation ti has been prepared in good faith, but no representation ti or warranty, express or implied, is made as to
More informationBriefing Adelaide Fringe Office February 2018
Savills Research South Australia Briefing Adelaide Fringe Office Highlights A slight rise in the vacancy rate was led by the return of refurbished floor space, the largest level since 2013, reflecting
More informationAxiom Properties Limited
Axiom Properties Limited AGM UPDATE 23 November 2016 Axiom Overview 2 Axiom Properties Limited ( Axiom ) is an ASX listed property development and investment company (ASX code: AXI), which has developed
More informationCenturia Property Funds Limited CENTURIA METROPOLITAN REIT
Australian Securities Exchange - Company Announcements Platform Centuria Property Funds Limited CENTURIA METROPOLITAN REIT Victorian Asset Tour Monday, 7 May 2018 Centuria Property Funds Limited (CPFL),
More informationAustralian Property Growth Fund
Australian Property Growth Fund Presentation Overview 2006/07 Key Highlights Property Trust Assets Funds Management & Development Company Projects Future Projects 2006/07 Key Highlights Profit after tax
More informationCOFFS HARBOUR MARKETSNAPSHOT
MARKETSNAPSHOT NEW SOUTH WALES The Mid North Coast region is ranked fourth in Australia for business confidence with its regional economy growing at a healthy 4.1% p.a. and produces an annual Gross Regional
More informationSunshine Coast Council Locked Bag 72 Sunshine Coast Mail Centre QLD Submitted via online portal. 2 June 2017.
Sunshine Coast Council Locked Bag 72 Sunshine Coast Mail Centre QLD 4560 Submitted via online portal 2 June 2017 Dear Sir /Madam, RE: DRAFT ENVIRONMENTAL AND LIVEABILITY STRATEGY The Green Building Council
More informationMoseley Gardens. surrendeninvest. Birmingham. residential. Exclusive to Surrenden Invest
surrendeninvest residential Moseley Gardens Birmingham Exclusive to Surrenden Invest Surrenden Invest the home of your portfolio Surrenden Invest unlock exclusive off market stock in high demand growth
More informationConnecting Sydney Olympic Park and GPOP with Greater Sydney. Final Summary Report 29 May 2017
Connecting Sydney Olympic Park and GPOP with Greater Sydney Final Summary Report 29 May 2017 GPOP sits at the core of the emerging Central City. East Sydney is at the centre of the established Eastern
More informationFrasers Commercial Trust. Portfolio details as at 30 June 2018
Frasers Commercial Trust Portfolio details as at 30 June 2018 25 July 2018 Portfolio Composition 2 Asset values Total: S$2,242.9 million as at 30 June 2018^ Singapore: S$1,239.6 million (55%) Australia:
More informationThe Australian Property Institute Inc. Australian Property Directions Survey
The Australian Property Institute Inc. Australian Property Directions Survey SEPTEBER 2012 T his is the 29th API Australian Property Directions Survey conducted by the Australian Property Institute (NSW
More informationINLAND RAIL. Connecting Australia. 5 June 2018 National Infrastructure Summit inlandrail.com.au
INLAND RAIL Connecting Australia RICHARD WANKMULLER - CHIEF EXECUTIVE OFFICER INLAND RAIL 5 June 2018 National Infrastructure Summit 2018 inlandrail.com.au The Australian Government is delivering Inland
More informationFrasers Commercial Trust. Portfolio details as at 31 March 2018
Frasers Commercial Trust Portfolio details as at 31 March 2018 20 April 2018 Portfolio Composition 2 Asset values Total: S$2,219.2 million as at 31 March 2018^ Singapore: S$1,226.0 million (55%) Australia:
More informationFigure 3: Global Sydney. Draft Metropolitan Strategy for Sydney. North Sydney CBD. Second Harbour Crossing. Walsh Bay Arts Precinct.
Newtown Glebe Macdonaldtown Pyrmont Ultimo Sydney International Convention, Exhibition & Entertainment Precinct Sydney Education & Health Erskineville Figure 3: Global Sydney Waterloo Second Harbour Crossing
More informationWHERE BUSINESS LEADS MAKE YOUR MARK. A unique opportunity for investors and developers.
MAKE YOUR MARK WHERE BUSINESS LEADS A unique opportunity for investors and developers. Australia s only greenfield central business district within an existing urban area. 6 Dr Doug McTaggart Chairman,
More informationWHOLESALE AUSTRALIAN PROPERTY FUND
AS AT 31 DECEMBER 2017 WHOLESALE AUSTRALIAN PROPERTY FUND A direct property fund tailored for small investors The Wholesale Australian Property Fund aims to provide investors with income and long term
More informationMARKET OUTLOOK. WATERLOO Waterloo is a growing residential market, boasting high amenity that is well located to a number of major employment centres.
MARKET OUTLOOK WATERLOO Waterloo is a growing residential market, boasting high amenity that is well located to a number of major employment centres. 01 Walkability & Accessibility 03 Infrastructure &
More informationSydney CBD Office Market
WINTER 2016 MARKET TRENDS Leasing demand strong, led by take-up in the property services, education and finance and insurance sectors. Supply levels high over 2015 Stock withdrawals to increase in 2016
More informationCOMMERCIAL UPDATE 21 September 2006
COMMERCIAL UPDATE 21 September 2006 1 STEVE MANN CEO, Commercial & Industrial Division Stockland Commercial Division update 2 PRESENTATION AGENDA C&I Business Model C&I Mission SEE The Future of Australian
More informationParis. Research. Office market report - Q Contents. Market Summary
Research Paris Office market report - 2008 Contents Paris 2 Ile-de-France map Market breakdown 3 Market data 4 Market Summary With more than 590,000 sq m let in the second quarter of 2008, the office market
More informationIndustrial Report. Americas Research. Northeast Mexico 4Q 2013
Industrial Report Americas Research Northeast Mexico 4Q 2013 Northeast Mexico Industrial Overview The Northeast markets have had a considerable rise in activity. The Monterrey Metropolitan area has registered
More informationInvestment Opportunity
Investment Opportunity Quest Apartment Hotel Pakenham Street, Fremantle Investment Highlights 120 key Quest serviced apartment development Fremantle s CBD is undergoing renewal and Sirona Capital is a
More informationOffice Investment Market Review and Outlook. February 2013, Australia
Office Investment Market Review and Outlook February 2013, Australia Contents 04 06 18 22 26 32 Introduction Office investment market in 2012 Economic and demand outlook The physical market The investment
More informationDAVID SHELDON Chair Australian Regional Tourism Network (ARTN inc 2001)
Collaboration between the Local Government s & the Australian Regional Tourism Network (ARTN) Local Government Spend on Tourism DAVID SHELDON Chair Australian Regional Tourism Network (ARTN inc 2001) The
More informationBriefing Parramatta Office February 2018
Savills Research Briefing Parramatta Office Highlights The overall vacancy rate in Parramatta s office market fell further in December 2017 to 3.0% from 4.6% a year prior; Interest from local institutional
More informationLocation Report. Coffs Harbour U Retire ( ) Retire with Property
Location Report Coffs Harbour Retire with Property 1300 U Retire (873 847) www.superannuationproperty.com Coffs Harbour Location Coffs Harbour is a regional town on the North Coast of New South Wales
More informationHEALTH SECTOR ECONOMIC INDICATORS REPORT
HEALTH SECTOR ECONOMIC INDICATORS REPORT For: Mid North Coast Local Health District Report prepared by: April 2013 Table of Contents Introduction 3 Executive Summary 4 Output 5 Value-Added 7 Workforce
More informationOUTLOOK REDBANK PLAINS A CONTEXT ON BUSINESS, CULTURE, LIFESTYLE AND RESIDENTIAL
OUTLOOK REDBANK PLAINS A CONTEXT ON BUSINESS, CULTURE, LIFESTYLE AND RESIDENTIAL Located within seven minutes of the Springfield CBD and 30 minutes of the Brisbane CBD, Redbank Plains proximity to major
More informationAUSTRALIA BRISBANE S NEXT DAY MAJOR DEVELOPMENTS DRIVING THE CBD CONTENTS CITIES INTO ACTION BRISBANE S NEXT DAY 04 MAJOR PROJECTS 04
AUSTRALIA BRISBANE S NEXT DAY 2021 MAJOR DEVELOPMENTS DRIVING THE CBD CONTENTS BRISBANE S NEXT DAY 04 MAJOR PROJECTS 04 THE BRISBANE OF THE FUTURE 06 October 2017 CITIES INTO ACTION IMPLICATIONS & OPPORTUNITIES
More informationOUTLOOK SILKSTONE SEPTEMBER 2016 A CONTEXT ON BUSINESS, CULTURE, LIFESTYLE AND RESIDENTIAL 1 POP 2 INF 3 EMP
OUTLOOK SILKSTONE A CONTEXT ON BUSINESS, CULTURE, LIFESTYLE AND RESIDENTIAL Located within 2km of the Ipswich CBD and less than 40 minutes from Brisbane, Silkstone offers residents local access to education,
More informationBrisbane. Executive Summary. Economic Overview. Q Industrial Market Commentary
Q3 2017 Industrial Market Commentary Brisbane Executive Summary The Brisbane industrial market is showing tangible signs of improvement, after relatively soft leasing conditions in 2016. Gross take-up
More informationSouth Australian Centre for Economic Studies June 2016 Economic Briefing Report 28 June, 2016
Steve Whetton, Executive Director, SA Centre for Economic Studies South Australian Centre for Economic Studies June 216 Economic Briefing Report 28 June, 216 Per cent Global GDP Growth 1 8 Developing Countries
More informationFrasers Commercial Trust. Portfolio details as at 30 September 2018
Frasers Commercial Trust Portfolio details as at 30 September 2018 19 October 2018 Portfolio Composition 2 Asset values Total: S$2,133.5 million as at 30 September 2018^ Singapore: S$1,140.4 million (54%)
More informationASX CODE ISSUED CAPITAL CONTACT AXI. 19 May Ordinary Shares M
ASX CODE AXI ISSUED CAPITAL Ordinary Shares 420.4 M 19 May 2017 CONTACT South Australia Level 3, Stafford House 25 Leigh Street Adelaide SA 5000 PRESENTATION TO GLOBAL ALLIANCE PARTNERS AUSTRALIAN EMERGING
More informationHousing in Hobart: an overview of the data. Richard Eccleston, Lisa Denny, Julia Verdouw & Kathleen Flanagan University of Tasmania May 2018
Housing in Hobart: an overview of the data Richard Eccleston, Lisa Denny, Julia Verdouw & Kathleen Flanagan University of Tasmania May 2018 Informing the Housing Debate Tasmania is facing significant housing
More informationTHE GLENVALE DEVELOPMENT TOOWOOMBA AUSTRALIA S REGIONAL CAPITAL
THE GLENVALE DEVELOPMENT TOOWOOMBA AUSTRALIA S REGIONAL CAPITAL TOOWOOMBA: A SNAPSHOT As Australia s second largest inland city, Toowoomba, continues to grow as a Regional Capital with over $13 billion
More informationUNITED KINGDOM BIRMINGHAM OFFICES QUARTER
UNITED KINGDOM OFFICES QUARTER 4 2 TAKE-UP 753,329 SQ FT 113,713 KEY DEAL 118,240 SQ FT TO BCU AT BELMONT WORKS, EASTSIDE CITY CENTRE SERVICED OFFICES SQ FT HEADLINE RENT 33 PSF Take-up > Annual take-up
More informationAustralia and New Zealand
Strategy Management Consultancy Australia and New Zealand Regional Analysis knowledge center September update 2018 Contents Australia Australia Market Review 3 Macro indicators 4 Australia key statistics
More informationNew South Wales: state economy and State Budget,
New South Wales: state economy and State Budget, 2016-17 Government measures for business and industry The 2016-17 NSW Budget was handed down by the NSW Treasurer, Gladys Berejiklian on Tuesday 21 June
More informationOffice Market Overview. Sofia I H Office Market Overview
Office Market Overview Office Market Overview Office Market Overview Total modern class A, B and C office space supply in Sofia recorded,000,000 m, equating to 4% growth. Total take-up in 017 reached its
More informationBriefing Melbourne CBD Office April 2018
Savills Research Victoria Briefing Melbourne CBD Office Highlights Victorian jobs ads have been positive for past five years and currently are at their highest level since May 2009; This growth in professional
More informationASCOT SUBURB PROFILE
ASCOT SUBURB PROFILE CONTENTS SUBURB HIGHLIGHTS 2 3 4 4 5 5 ASCOT & SURROUNDS LOCATION & LIFESTYLE DEMOGRAPHICS EMPLOYMENT FUTURE INFRASTRUCTURE WA MARKET TRENDS ACCESSIBILITY ENTERTAINMENT & RECREATION
More informationAustralian Capital Markets Q Accelerating success. THE HUNT FOR YIELD. Australian Capital Markets Q The Hunt For Yield
Australian Capital Markets Q3 2016 Accelerating success. THE HUNT FOR YIELD Australian Capital Markets Q3 2016 The Hunt For Yield Global unease position Australia favourably as an investment destination
More informationBriefing Brisbane Fringe Office February 2018
Savills Research Briefing Brisbane Fringe Office Highlights The Queensland economy continues to show strong signs of recovery, with economic growth for the state recorded at 3.0% over the year to September
More informationSPACE OPPORTUNITY CONNECT CORPORATE CENTRE O RIORDAN STREET, MASCOT
SPACE + OPPORTUNITY CONNECT CORPORATE CENTRE 185 189 O RIORDAN STREET, MASCOT OVERVIEW 2 Opportunity Connect Corporate Centre is an new mixed use precinct located in Mascot. Three contemporary commercial
More informationNew South Wales: State Economy and State Budget,
New South Wales: State Economy and State Budget, 2018-19 Government measures for business and industry The 2018-19 NSW Budget was handed down by the NSW Treasurer, Dominic Perrottet on Tuesday 19 June
More information