The report provides an overview on the performance of each Metro office market while also covering key themes, including:
- Decentralisation and hub-and-spoke – deal activity tells us that these occupancy trends predicted to play a major part in tenant’s re-occupancy strategies have not come to fruition at the levels expected 12 months ago.
- Relocation drivers – the factors of workforce demographics, requirements for connectivity to client and stakeholder locations, company culture and brand and the desired location for a company’s longer-term strategy and growth projections are still driving tenant relocation.
- SME deal activity – a robust quarter from the sub-1,000sqm occupiers is pointing to positive signs that these occupiers are still invested in leasing office space given their more agile nature and ability to uproot more easily to a work-from-home model.
- Metro markets have remained an attractive investment with the continued weight of capital looking to be placed in the office sector.