Tenant CS

Take a read of our latest CBD office leasing snapshot through a unique tenant-centric lens. Sydney 👉🏻 Sydney's CBD vacancy rate has fallen from 12.2% to 11.6% over the past six months due to limited injections in H1 and stock withdrawals 👉🏻 High incentives averaging between 30-39% offset year-on-year increases in Gross Face rents. However, tenants need to be aware that these figures are just averages, and the actual incentives achievable during lease negotiations vary significantly depending on property grade, location, asset amenities, and the landlord 👉🏻 Sydney's sublease vacancy fell from 2.5% (130,000 sqm) in Q4 2023 to 1.7% (89,700 sqm) in Q2 2024, primarily due to CBA withdrawing 20,742 sqm in Darling Square Melbourne 👉🏻 Melbourne CBD's overall vacancy rate has risen from 16.5% to 18%, marking the 18th consecutive increase since Q1 2020 👉🏻 Despite a quarter-over-quarter increase in face rents, steep rises in incentives have led to declines in average net effective rental rates across all grades 👉🏻 Sublease availability as a percentage of total stock is being reported at 2.8% (145,500 sqm). Two-thirds of this space is contained in four buildings Brisbane 👉🏻 Brisbane's overall CBD vacancy rate has fallen from 11.7% to 9.5% over the last quarter 👉🏻 Given limited supply and strong demand, Gross Face and Effective Rents have increased Q-o-Q across all grades. Though incentives remain elevated to encourage tenant relocations, they have seen slight decreases Q-o-Q due to tightening vacancy rates 👉🏻 Sublease availability in Brisbane remains one of the lowest in the country at circa 0.5% of total stock Learn more: https://lnkd.in/g9t2wajt #tenantrep #tenantrepresentation #commercialrealestate #business #strategy #office #sydney #melbourne #brisbane

In the world of commercial real estate, who’s really on your side? When it comes to leasing space, you have a choice of who to work with: 👉Traditional leasing agents 👉Tenant reps within traditional agencies 👉 Independent tenant reps The professional you partner with can greatly affect the terms of your final deal. So find out what sets them apart. Learn more: https://lnkd.in/gMmykXq3 #commercialrealestate #tenant #tenantrep #office #business #strategy

Welcome to Tenant CS's Monthly Roundup! Here, you'll find the latest company news, insightful articles you might have missed, and valuable tips for commercial tenants. Subscribe now to stay ahead of the curve with fresh, relevant content! #business #strategy #commercialleasing #commercialrealestate #officelife #office #tenantrep #tenantrepresentation

This weekend, Tenant CS tackled City2Surf (followed by a few well-deserved post-event bevvies) to raise funds and awareness for breast cancer. With Sydney's streets surging with energy, a beautiful sunny day, a stunning backdrop and amazing team vibes, we couldn’t have asked for a better Sunday! ☀ Big thank you to everyone who supported us along the way! National Breast Cancer Foundation Maxwell Vaughan Danielle Higgs Hamish Mackay Jared Kroeger Ella Segal Tim Green Mel Conroy Ruth Havern Liam Drosinos Hannah Feltham Jenna Kazokas

"Demand for prime CBD space has risen in the past six months, while the occupancy of B-grade space has fallen overall, as a wide-ranging shake-out of the nation’s battered office markets gathers pace. About 65,000 square metres of premium and A-grade was taken up in the country’s top office towers, while net demand for B-grade space fell more than 40,000 square metres" #commercialrealestate #tenants #office #sydney #melbourne

We are thrilled to announce that we've been certified as a great place to work for the second year running 🙌 Seeing all our hard work pay off is incredibly rewarding, especially because our results sit an average of 33% points higher than the industry. Here’s a behind-the-scenes look at the certification, our company, and why Tenant CS is a great place to work: https://lnkd.in/g-YXpMPc #greatplacetowork #tenantrep #commercialrealestate #tenantrepresentation #business #award #recognition

"Melbourne’s CBD vacancy rate has hit 19.6 per cent, the highest since 1995, as a thinning pool of tenants switch into in efficient new towers on reduced footprints, leaving behind a generation of old, unloved and rapidly emptying hulks." #afr #news #business #office #commercialleasing #commmercialrealestate

Congratulations to the MCI team on your new Brisbane office. We hope you love your new space! Kudos to Hannah Feltham for your great work on this project. Another happy client secured on fantastic terms! 👊 #tenantrep #tenantrepresention #sydney #melbourne #brisbane #happyclient

"The Commonwealth Bank, Westpac and Telstra are among 19 Australia’s largest companies that have cut their office needs by almost 200,000 square metres in the Sydney CBD since the pandemic, sending vacancy rates sky-high in the country’s biggest market. Corporate Australia’s retreat has led to an oversupply of office space, gutting rental growth across the market. That, combined with rising interest rates, has ultimately sent valuations of the country’s most expensive commercial real estate tumbling by 20 per cent or more." Read more: https://lnkd.in/g844CTRV #commercialrealestate #realestate #sydney #office #strategy #business

"The next wave of new CBD skyscrapers may not emerge until the next decade as the Sydney and Melbourne office markets recover from the rise of remote work, weaker demand, and near-record-high vacancy rates, property experts say." Read the full article: https://lnkd.in/gQ3iqtpT #commercialrealestate #office #realestate #business #commercial #property #remotework The Australian Financial Review