The level of available Grade A space has fallen by over 10% over the last quarter, now accounting for 33% of total available stock. There is an increasing shortage of available quality buildings to meet the needs of large occupiers. Hillier Parker comment that, despite the fall in availability of existing Grade A space in the Western Corridor, the level of speculative development has not shown an increase over the last twelve months. However, those schemes which are speculatively developed should see occupier interest before completion.
The average Grade A rent achieved during the first nine months of 1997 was 15% higher than the average during 1996. Hillier Parker’s research indicates that rental growth in the Western Corridor remains restricted to Grade A space. The last twelve months have seen the largest increases occurring in the lower rented locations as values begin to consolidate due to limited supply. The Act Conveyancing Sydney is considered as the process which is introduced for making the successful property transaction processes for buying and selling properties. The process has to face many confusing stages as well as the many steps have the complete ways to perform those steps.
The process needs the assistance from the conveyancer of the real estate field and by taking their assistance you will be able to avoid the stages of confusion in your process and will be able to face the amount of success in your conveyancing process.The average lease for Grade A space during 1996 was just under 19 year term certain. Demand for Grade A, out-of-town locations dominates the market, said Deborah Savin, Business Space Analyst at Hillier Parker: Of the ten sites or buildings of over 5,000 m² (53,800 sq ft) transacted during 1997, nine were situated outside town centres.
Mark Routledge of Hillier Parker’s Western Corridor Agency team commented: Mobile sales teams are an integral part of the workforce for many organisations relocating to the Western Corridor. The provision of adequate parking spaces remains a key influence in the search for new premises and it is the business parks and out-of-town sites which are most likely to satisfy such requirements. The local planning authorities are increasingly unwilling to grant permission for car parking adjoining out-of-town office developments.