Perths sublease availability experiences first uptick in 2 5 years
Perth’s sublease availability experiences first uptick in 2.5 years
| 10 September 2018
Perth’s sublease availability has increased for the first time in 2.5 years, according to recent CBRE Research.
Reaching a low of 21,860sqm in March 2018, sublease availability in Perth has been on a steady decline since peaking at 98,304sqm in December 2015.
However, figures released by CBRE Research highlight in the three months to 30 June, sublease availability in Perth increased by 15.14% to 25,170sqm.
Sublease availability in Perth, September 2012 – June 2018
After nine consecutive quarters of a falling sublease rate, CBRE Senior Director, Office Leasing, Andrew Denny said it was inevitable an increase would occur at some point.
“Sublease availability represents just 1.4% of total CBD stock and these figures are the second lowest in six years,” Mr Denny said.
“A certain level of sublease availability is to be expected in any market given the normal changes that occur as businesses adjust their space requirements. This slight increase in sublease availability does not contradict our view that the Perth CBD leasing market is showing good signs of recovery, with further significant strengthening likely in the next 12 months.”
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