Melbourne Fringe Office Briefing: Q2/2019
We are pleased to release the Q2/2019 Office Briefing Notes for the Melbourne Fringe, which outline key metrics across each market along with detailed commentary on leasing, sales and development activity.
- Australian Institutions and Trusts remained the most dominant purchaser type, accounting for 49.7% of sales volume
- Net effective rents in the St Kilda Road precinct are now at historically high levels
- Tenants from the Mining industry were the most dominant sector, leasing 32.2% of total stock
- Investment activity was higher than the previous year on record with $688.0 million transacted over FY-19
- Strong employment growth has enabled companies expand from suburban offices into the Melbourne CBD fringe