CBD Commercial Property News

Developers have won approval for a new building in Sydney’s central business district that will become the city’s highest apartment tower once it is built.

Hobart City Council will hold a special meeting on Monday night to vote on an application for a new CBD apartment block.

If you go down to the city today, you’re in for the big surprise, with the four towers at the Queens Wharf mega-development ready to start transforming Brisbane’s skyline.

Property developer Mirvac has lodged fresh plans for a major tower at Sydney’s Circular Quay, kicking off a new race to build city offices for an expected longer-term recovery in the property sector.

The early onset of coronavirus in Australia left commercial property sentiment largely unscathed through the first quarter, with only the hotel sector fielding a mass hit to confidence, according to NAB’s latest Commercial Property Survey.

Listed developer Mirvac has flagged a major push into Melbourne’s office market and has lodged plans for a new office skyscraper in La Trobe Street in the central business district.

Office heavyweight Dexus has flagged pressure on city towers and even industrial parks in the coronavirus crisis, but it is still striking fresh deals and has not tapped the market for new equity.

State governments are kickstarting major commercial and residential developments in an attempt to restart economic activity in the recovery phase from the coronavirus.

Commercial property investors in Victoria are turning towards redevelopment opportunities in increasing numbers, if the week’s most-viewed properties list is any indication. The majority of the properties making up the state’s most-viewed list over the previous …