Office Market Report Business Lunch

Office Market Report Business LunchTo release the latest results of its Office Market Report, the Property Council held a business lunch exploring the position of Melbourne’s office markets and the outlook for 2017 and beyond.Commonwealth Bank’s Head of Property Strategy, Kevin Stanley, opened the lunch by taking the audience through the latest findings. Kevin outlined how Melbourne’s office market had outperformed other cities in this cycle. With net absorption results representing the largest cyclical high since the first half of 2006, the key question being asked was ‘how low can vacancy go?’Following his presentation, a panel discussion was held with Nicole Ward, regional Portfolio Manager – Office for Charter Hall and David Bowden, JLL’s Managing Director for Victoria, which was moderated by Melissa Kidd, the Asset Manager, DEXUS Property Group. With a clear ‘flight to quality’ being observed across all quality grades, the panel spent time discussing what landlords with older ageing stock should be looking to do to avoid vacancy, including the value placed on ‘WELL’ programs and value-add initiatives such as end of trip facilities.The Property Council thanks Commonwealth Bank for sponsoring the event. Photos from the event can be found below.The Property Council media release can be accessed here.