Mid-Year OMR Breakfast

Last Thursday, almost 300 people attended the Property Council’s Mid- Year Office Market Report Breakfast at Brisbane City Hall.

Attendees heard from Peter Hyland, Regional Director – Urbis, who provided a presentation and expert analysis of the report, along with a broader economic overview of local and national conditions.

The headline figures show that the Brisbane CBD office vacancy fell from 15.5 per cent to 15 per cent over the last six months. However, over the next 18 months, almost 200,000 square metres of office space will enter the market, including Daisho’s 180 Ann Street, 480 Queen Street by Grocon/Dexus, and the Queensland Government’s 1 William Street.

Peter discussed that the total stock in the CBD decreased by 35,531 square metres since January, before providing a snapshot of the Brisbane fringe and other key Brisbane office markets. This was followed by an update on the Gold Coast and Sunshine Coast markets, as well as a national overview. For more information on the Office Market Report or to purchase a copy, click here.

After breakfast, Peter was invited back to the stage, and was joined by Stephen Nicol, Office Divisional Director – The GPT Group, and Richard Garing, Regional General Manager Office and Industrial – Dexus Property Group, for a panel discussion moderated by the Property Council’s Commercial and Corporate Real Estate Committee Chair, Christine O’Hara, General Manager Investa Office – Investa Property Group.

The ensuing discussion examined the detail that was provided in Peter’s presentation, with both Stephen and Richard remaining positive about Brisbane’s office market conditions, noting the continued ‘flight to quality’. The panel acknowledged and supported Brisbane City Council’s incentives for the renewal of secondary office stock, and encouraged Council to look at expanding the incentives.

Other topics that were thrown at the panel to discuss, included shared work spaces, office worker facilities, rental growth, and fringe and capital markets.

The Property Council would sincerely like to thank Stephen Nicol and Richard Garing for their contribution to the panel. A special thanks must go to Christine O’Hara for moderating, along with Peter Hyland who once again provided his expert analysis of the Office Market Report data. This event would also not be possible with the support of our sponsor Broad.

Sponsor

Christine O’Hara – Investa Property Group

Peter Hyland – Urbis

Christine O’Hara – Investa Property Group, Richard Garing – DEXUS Property Group, Stephen Nicol – The GPT Group & Peter Hyland – Urbis

Martin Henry – Broad

Jen Williams – Property Council of Australia, Stephen Nicol – The GPT Group, Christine O’Hara – Investa Property Group, Martin Henry – Broad, Richard Garing – DEXUS Property Group & Peter Hyland – Urbis