Figures Melbourne Industrial and Logistics 4Q22

January 23, 2023

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Key Points

‒Gross take-up in 4Q22 totalled 171,029 sqm, which is under half what was recorded the previous quarter due to a shortage of space available for lease.

‒The average vacancy rate stands stable at a record low of 1.1% (as at 2H22).

‒New floorspace added to the market over the quarter totalled 69,587 sqm across six projects, with most of the supply delivered within the West precinct (47%), followed by the South East (34%).

‒Average super prime and prime rents have grown by 6.4% and 5.6% q-o-q, respectively.

‒Average land values for 0.2 ha and 1.6 ha lot sizes have appreciated by 25.2% and 22.3% (y-o-y), respectively.

‒A total of AUD 605.8 million of investment sales (transactions greater than AUD 5 million) has been recorded in 4Q22 across 12 transactions.