Coronavirus Commercial News

Australia’s retail record has been broken for the second time in two months after the sale of a shop in Sydney’s Circular Quay for $11.5m.

Ducati is set to open brand new showrooms in Australia’s largest cities on the back of riding a sales high throughout the pandemic.

As more businesses adopt sustainability targets, they are increasingly focused on the environmental impact of the spaces they own and occupy. In the commercial real estate space, proof of this can be seen in the growing demand for properties with high environmental ratings such as the National Australian Built Environment Rating System.

A Woolworths supermarket in suburban Melbourne has sold for $35 million as investors target pandemic-proof essential retailers.

Hospitality operators are in high demand as geelong’s biggest hotel and apartments projet emerges in central Geelong. The developer reveals when it’s expected to be open for business.

Despite the threat of rising interest rates, buyers continued to battle for pubs and essential service assets at this month’s Burgess Rawson’s portfolio auction, with big brands leading the sales.

The property developer has called for an overhaul of ‘outdated’ metrics defining office spaces, as hybrid work styles become the norm in the wake of the pandemic.

An array of federal budget measures will have positive repercussions for Australia’s commercial property market, with investments in infrastructure, a fuel excise reduction and tax offsets likely to have far-reaching knock-on benefits.

With the recovery from the pandemic crisis well underway, the federal government’s focus has been on cost of living and housing affordability in this pre-election budget.