Ask for two years rent free on a five-year fixed term
High-spec fitted offices are all the rage in Melbourne. It is accommodation inspired, supplied and fitted at great cost by landlords. These ready-to-occupy offices are a world away from run-of-the mill serviced offices.
For organisations with more than 10 people, landlords have stepped up their offer with offices available on leases that include meeting rooms, desks, computers, AV equipment, bar height tables and chairs, phone pods, work pods, a wide variety of finishes and textures, subdued lighting, coffee, entertaining areas, coffee machines.
When the working day has been done, there are well equipped gymnasiums in the basements and areas that were once car parks have now been converted into bike racks and end of journey facilities.
Additional meeting rooms are supplied for hire with friendly looking chairs with pastel colours and tartan floor coverings.
The whole ambiance created by landlords is a level up – a level where the occupiers’ well-being is at the heart of it. It is a clear reason not to work from home.
In a nutshell, it shows how collaborative working has moved on from the oppressive office environments – with personalities to match – of the 90’s where well-being were words spoken rather than experienced.
If the property world can contribute to ‘building back better’ it is here with its high spec offices, attracting even the most fundamentalist home workers back to a high value, high achieving environment.
Ask for two years rent free on a five-year fixed term and take it from there.
Industrial property
Industrial is functioning at a completely different level. There is land for design and build but the real bargains are in the Port of Melbourne with brilliantly located but ancient (50-year-old warehouses) adapted to today’s markets serving the city.
Rents have rocketed and will continue to escalate – driven by insatiable demand. In certain locations sheds are more expensive than offices which is a trend that must surely reverse as working-from-home is converted to work from anywhere – calling for a different type of distribution and therefore shed network.
SBM is continuing to extend its presence in Australia – as it has been since 2012 (note: my first job was for Knight Frank, based at 60 Margaret Street, Sydney in the 1980s; it’s still there – standing proud).
We are continuing to discuss options with our partners as we serve our clients in Australia – another member of the Comprehensive and Progressive Trans Pacific Partnership to which the UK joined earlier this year.
For more information about office and warehouse properties in Australia, email info@sbmcre.com
Stephen Bleakley
SBM
