Commercial property is again on the move! May 2007 RETURN
For the 3rd consecutive year over 120,000m2 in net absorption of Melbourne office space has occurred. The average has been 146,000m2.
The Docklands has the lowest office vacancy market in the country at a frugal 2.1%. Lend Lease & Austcorp Groups have committed to 2 developments totalling 17,500m2.
At one end of the sector, larger companies are rationalising their operations into centralised formats whilst the other end is showing an increase in new companies entering the personal services areas. These are often smaller organizations taking boutique sized office suites.
Our Project Marketing arm has completely sold out a new boutique office building in record time. Developed at 70 Racecourse Road, North Melbourne by the Romano Property Group the 36 suite business centre is on the arterial hub between the Tullamarine Fwy and the City Link. Investor activity was rampant & the 55m2 offices sold for $229,000 each. They were the first of 3 stages in what will be a $50m transformation of the corner Gateway site.
Another state of the art gem on the way from the Romano property Group will be 206 Dryburgh Street, North Melbourne. Again a selection of boutique suites for the smaller or medium sized organisations from 68m2. Priced from $305,000, we have already taken 17 reservations from our loyal clients for their off the plan selections, this is prior to any advertising or launch. There are still suites available that are sensational value & come with our highest recommendation. For Further details contact Jason Marston Direct: 9381.9381
Our commercial department will commence the leasing campaign for 70 Racecourse Road this month, providing for the first time locally, high class yet affordable offices from only $300 per week.
We watch with interest how the market is exploding for quality city edge offices that are not CBD yet need a prominent well respected location. It is history in the making as new markets are formed.
For the 3rd consecutive year over 120,000m2 in net absorption of Melbourne office space has occurred. The average has been 146,000m2.
The Docklands has the lowest office vacancy market in the country at a frugal 2.1%. Lend Lease & Austcorp Groups have committed to 2 developments totalling 17,500m2.
At one end of the sector, larger companies are rationalising their operations into centralised formats whilst the other end is showing an increase in new companies entering the personal services areas. These are often smaller organizations taking boutique sized office suites.
Our Project Marketing arm has completely sold out a new boutique office building in record time. Developed at 70 Racecourse Road, North Melbourne by the Romano Property Group the 36 suite business centre is on the arterial hub between the Tullamarine Fwy and the City Link. Investor activity was rampant & the 55m2 offices sold for $229,000 each. They were the first of 3 stages in what will be a $50m transformation of the corner Gateway site.
Another state of the art gem on the way from the Romano property Group will be 206 Dryburgh Street, North Melbourne. Again a selection of boutique suites for the smaller or medium sized organisations from 68m2. Priced from $305,000, we have already taken 17 reservations from our loyal clients for their off the plan selections, this is prior to any advertising or launch. There are still suites available that are sensational value & come with our highest recommendation. For Further details contact Jason Marston Direct: 9381.9381
Our commercial department will commence the leasing campaign for 70 Racecourse Road this month, providing for the first time locally, high class yet affordable offices from only $300 per week.
We watch with interest how the market is exploding for quality city edge offices that are not CBD yet need a prominent well respected location. It is history in the making as new markets are formed.