Blog - TGC News
TGCONNECT | MARCH 2016
With Christmas well and truly behind us and Easter just around the corner, 2016 is bolting along. In the Sydney CBD, the leasing market has tightened significantly since last quarter (down to 6.3%), mainly due to heavy development within the City and compulsory acquisition of a large number of buildings for the upcoming Sydney Metro initiative. New developments such as Barangaroo will satisfy demand, albeit for the short term.
The City Fringe commercial market has also stiffened. Increased commercial office demand and the explosion of residential development on the Fringe have combined to create a shortage of creative commercial stock that can only be expected to tighten further, increasing both sale and lease values.
It’s exciting times for owners of strata space on the Fringe as well as the CBD. Demand for high-quality commercial strata has again surged and with the lack of any significant new developments in recent years, per square metre rates for good product has increased significantly. Any good stock under $2M sees strong competition from buyers.
TGConnect Results – Take a look here.
And what have we been up to? Besides servicing our tenant’s enquiries and securing record prices for owners, we recently launched our new website that has a strong focus on user experience and content.