This Month
In central London, a big bet on a return to the office
Developers expect a forecast jump in jobs in London’s financial heart will support demand for office space regardless of whether hybrid work remains the norm.
- Eshe Nelson
Your office could double as a data centre – with free hot water
Liquid-cooled server racks can create opportunities in technology and real estate as demand for computing power grows with artificial intelligence.
- Michael Bleby
- Exclusive
- Commercial real estate
Australia’s first venue for exclusive London wine club’s about to open
Developer Ross Pelligra is counting on the country’s inaugural 67 Pall Mall to invigorate his closed 85 Spring Street office building in Melbourne’s CBD.
- Michael Bleby
Is now the time to buy REITs?
With the peak in interest rates in sight, it may be time to consider the listed property trusts again. But be careful which stocks you buy, experts say.
- Larry Schlesinger
- Opinion
- Superannuation
Super at risk from office valuations
Little attention has been given to the risk for superannuants of carrying office property in super funds at unattainable valuations.
- David Parker
Mirvac lures Optiver, tech unicorn into its offices despite weak market
From trading house Optiver to tech unicorn Advanced Navigation, large companies are upgrading offices to take advantage of a weak office market.
- Campbell Kwan
High land prices stalling office developments: Hines
Land values have yet to adjust to rising cost and the price of debt, the developer and fund manager says.
- Michael Bleby
November
- Exclusive
- Property development
Lendlease boss flags strategic pivot in Europe
As part of its shift from developer to investor, Lendlease will look to buy British buildings that need a green refurb or conversion from offices to housing.
- Hans van Leeuwen
The NYC neighbourhood where families now fill empty offices
Manhattan’s financial district is something of a misnomer as the neighbourhood, once empty after bankers commuted home, becomes a vibrant residential enclave.
- Matthew Haag
Lender fears around falling office values grow
Office volatility will push back the development of new offices as the number of construction loans will dwindle, according to a commercial real estate lender sentiment survey.
- Campbell Kwan
WeWork landlords push back as rent talks heat up
The embattled coworking company must argue its need for rent cuts and other concessions but not push so aggressively that landlords walk away.
- Eliza Ronalds-Hannon, Amelia Pollard and Reshmi Basu
Loan to London building that WeWork rents is for sale at discount
The sale of the loan exposes the fault lines created by soaring interest rates, the steep costs of renovating older buildings and WeWork’s bankruptcy.
- Irene García Pérez, Lucca de Paoli and Libby Cherry
Melbourne’s $200m ‘office tower for the rich’ gets green light
Developer Time & Place has already secured pre-commitments for almost a third of the 21 floors offered for sale above Melbourne’s famous Hotel Lindrum.
- Larry Schlesinger
Renewable energy investment plans surge, ACIF forecasts show
Even as the pipeline of projects jumps after new climate change legislation, Australia is unlikely to meet its renewable energy target.
- Michael Bleby
Only just over half of Melbourne has returned to the office
The return to office of workers in the Victorian capital remains slower than other CBDs, new occupancy figures show.
- Campbell Kwan and Patrick Durkin
I should have sold two years ago, says vendor of sold $1.33m property
An unusual dwelling failed to sell as an office. When pitched as an apartment, it achieved a different result – but still sold too cheaply for the owner.
- Michael Bleby
World’s best-performing office market has occupancy above 98pc
Competition for space in Korea’s office market is fierce. One reason is that the work-from-home trend that has been emptying office floors in Western economies doesn’t occur in Seoul.
- Shawna Kwan and Shinhye Kang
JPMorgan tower: Blackstone’s 32-level headache on Castlereagh Street
The building’s refi comes amid a reckoning in the commercial property sector as rising borrowing costs and the work-from-home trend crunch valuations.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Rush of new office towers for ‘Londhattan’
By 2030, the City of London financial district will have sprouted an entirely new crop of skyscrapers. And the difference will be striking.
- Feargus O'Sullivan
Lendlease, Google part ways on $23b Silicon Valley plan
The break-up is one of the biggest concessions to the post-pandemic environment for planned office developments. It also reflects changing capital demands.
- Michael Bleby
