Figures

Figures Melbourne Industrial and Logistics 4Q24

January 16, 2025 10 Minute Read

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  • Gross take-up over the quarter increased compared to the previous quarter and totalled c.275,000 sqm. Total take-up levels across the Melbourne market remains healthy, albeit concerns about high lead times remain prevalent.
  • New floorspace added to the market in 4Q24 totalled c.327,000 sqm across 26 projects, with most of the supply delivered within the West precinct (45%).
  • Average super prime, prime and secondary rents showed continued normalisation in 4Q24, with marginal growth. Rents across Melbourne have stabilised following weakening lease enquiry.
  • Land values continue to see downward pressures, driven by economic feasibility concerns, combined with construction and holding cost increases.
  • A total of around AUD 475 million of investment sales (for transactions greater than and equal to AUD 5 million) was recorded in 4Q24 across 22 transactions.
  • Midpoint yields experienced no movement over the quarter across all asset grades.