Thursday, 19 May, 2016 - 13:43
Retailers needed to fill expanded malls
Shopping centre owners will need to fill 1,784 new shops by 2020, if an estimated $4.5 billion wave of mall development in Perth comes to fruition.
Established in 2010, Y Research is an independent Western Australian property information and research firm. The Company has a wealth of experience with all four major commercial property markets – office, retail, apartment, industrial and tourism.
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Shopping centre owners will need to fill 1,784 new shops by 2020, if an estimated $4.5 billion wave of mall development in Perth comes to fruition.
Tenants willing to shift from the suburbs to the city are emerging as rare winners in Perth’s patchy commercial property market.
Commercial landlords in West Perth are coming under increasing pressure to retain tenants, as the near-city suburb’s office vacancy rate hits all-time highs.
Perth’s commercial property sector is reeling from the simultaneous downturn in iron ore and oil and gas, but the WA capital is not alone among global resources hubs.
An increase in office vacancies in Perth’s CBD has shifted the market dynamic clearly in favour of tenants, but despite a historically high level of empty floors, there is little choice for companies that need a lot of space.
SPECIAL REPORT: Perth’s suburban office market is becoming as patchy as that in the CBD, with Joondalup and Fremantle emerging as the only upcoming opportunities for new developments.
Law firm Gilbert + Tobin is the latest company in Perth to shift address, as firms with expiring leases take advantage of the most tenant-friendly market in 25 years.
A new report assessing the diversity of property use across the city has provided some surprising results.
Downsizing in the resources sector is outstripping emerging demand from technology, medical and education businesses for CBD office space according to a new report by independent property research firm Y Research.
Office vacancies in Perth’s CBD have peaked, according to some in the commercial property sector, with markets expected to stabilise as construction of new offices slows.
Striking a balance between CBD and suburban office markets is becoming crucial in a post-boom economy.
A recent flurry of leasing deals by oil and gas-related firms has provided hope that Perth’s CBD office market has hit the bottom, despite further downsizing expected in the energy sector throughout 2017.
Office tenants are favouring properties owned by listed trusts and superannuation funds over private owners, as competition to fill vacant buildings along the terrace intensifies.
Theoretically speaking, office workers in Subiaco have to wait about seven times as long as their Claremont counterparts for a morning coffee, an analysis of amenity levels across 50 suburban office markets has revealed.
More than 40,000 square metres of space in suburban office buildings have been vacated during the past 12 months, a result driven more by companies downsizing rather than growth in the number of firms moving to the CBD.
SPECIAL REPORT: Developers remain bullish on plans to evolve shopping centres into community, lifestyle and entertainment hubs.
A new vacancy index has provided a different perspective on vacant office space across Perth’s metropolitan region.
SPECIAL REPORT: Developers and investors are looking beyond office buildings to explore a variety of property opportunities across Perth.
Several initiatives have emerged in a bid to reduce Perth’s office vacancies and revitalise the city’s older buildings.
New research paints a more optimistic view of traditional retailers’ future following the local arrival of Amazon.
SPECIAL REPORT: New retail property developments are driving offerings that capitalise on lifestyle needs, but five of the biggest projects are yet to push the button.
A-grade buildings in suburban locations are the best-performing office stock in Perth, according to fresh research which found that just more than 20 per cent of all commercial office buildings in the metropolitan area are vacant.
Seven West Media is understood to have gauged market interest for its Osborne Park property assets, but any sales process has likely been placed on hold because of continuing economic turmoil.
Just 37 per cent of shops at Western Australia’s biggest malls and main street retail strips are open for trade, laying bare the impact of the COVID-19 crisis on the retail sector.
Major commercial construction jobs have been derailed by the novel coronavirus crisis, with neither the public nor the private sector stepping up to provide certainty for contractors.
Nearly half of Western Australia’s major shopping centre retailers are operating on reduced hours despite relaxed COVID-19 restrictions, according to a study conducted by Y Research.
The pandemic has accelerated existing issues and trends facing the retail property sector.
It will take a mix of planning, marketing and property redevelopment initiatives to resuscitate Perth’s ailing CBD retail market.
Will working from home reshape the role of the office? Business News explores the potential impact on Perth’s commercial property sector as part two of the Working From Home Series.
Although the pandemic has emphasised business can be done from anywhere, commercial property players are banking on the value of four walls.
Floors of a Hay Street building left empty for 35 years will be revitalised as Hames Sharley’s new corporate headquarters.
Compared to other resources-driven cities around the world, the Perth office market has performed relatively steady over the past five years.
Perth may have the highest office building vacancy rate nationally, but that’s done little to dampen the confidence of investors, developers and real estate agents.
Health care assets are becoming increasingly attractive to commercial property investors seeking to diversify and de-risk their portfolios.
Businesses are overcoming uncertainty to commit to Perth’s office space, recent data suggests.
Shopping centre owners are increasingly exploring ways to incorporate residential components into retail districts.
Changes in worker habits and spending patterns due to COVID-19 means Perth stands to lose up to $128 million a year.
Perth’s office market is showing signs of strengthening.
New research has found that offices outside of the CBD are thriving as people shift their working patterns.
Retail property owners are looking for ways to capitalise on the surplus land around their shopping centres.
Workplace Design trends can be a useful tool to prepare organisations for future business transformation and assess its impact on their prospective workplace fitout.Here are our Top 3 influences trending in the Perth Workplace Design Scene for 2019.
Name | Position | Year Started |
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Director
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2010 |