CBD Commercial Property News

Corporate Australia is making a push to get staff back into offices with landlords seeking to reassure them they will be safe due to extensive precautions taken against coronavirus.

Australians as they start their summer breaks are asking when or even if they will make a return to their traditional desks 9-5 next year.

More than a million commuters will be absent from CBDs across Australia’s capital cities as working from home emerges as one of the biggest social shifts due to the COVID-19 pandemic.

The listed Dexus and Canada’s CPP Investment Board are looking to offload Brisbane’s $300m Gold Tower in the city’s largest office sale of the year.

China’s sovereign wealth fund has boosted its stake in Sydney’s landmark $1.85bn Grosvenor Place by purchasing a half interest in the tower in a move expected to spark a flurry of deal-making across major central business districts.

A classic Collins Street building home to Louis Vuitton’s flagship city store has bagged a buyer after attracting mammoth international interest.

The rapid development of Adelaide is gathering pace with the $330m reopening of SkyCity casino­ on November 28, with the complex to include several high-profile bars and restaurants and shine a spotlight on the city which has benefited from early border reopenings.

Billionaire Andrew Forrest’s private Fiveight operation has snapped up a Perth office building for about $55m, flagging a push into commercial property at a time when many listed groups are selling down.

Workers are increasingly making the commute back to CBD offices, with most markets seeing a rise in occupancy last month.