CBD Commercial Property News

The space and defence industries are proving the turning point for sentiment in the Adelaide office market, causing vacancy rates to fall over the past year.

Top law firm Herbert Smith Freehills is being courted by developers looking to lure it out of Melbourne’s tower of power, 101 Collins Street, with the under-construction skyscraper at 80 Collins Street emerging as an option for the group.

Brisbane’s Elizabeth Arcade’s new look has been completed, with a pair of student accommodation towers the new centrepieces of the historic thoroughfare.

A multimillion dollar upgrade of a Waymouth St office building and the imminent arrival of thousands of office workers in a nearby tower mark the continuing shift of Adelaide’s office heart, according to Adelaide leasing agents.

Taiwanese-backed developer Shayher Group has added to the rush of commercial property purchases in Queensland, picking up Brisbane’s landmark Q&A Centre for about $395 million.

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US oil and gas giant Chevron will stay in its existing St Georges Terrace digs until the end of 2023 while Brookfield builds its new headquarters tower at Perth’s Elizabeth Quay.

The race for a key land parcel in Melbourne’s CBD that could sustain a multi-billion-dollar development has kicked off with the Andrews government asking for expressions of interest to develop the vacant transport land known as The Treasury Square site.

German investment house Real I.S. has swooped on a Waymouth St office block in the Adelaide CBD for $85 million on behalf of a group of institutions that have mandated it to build up a $400 million portfolio.