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1.Market Observations

27 Feb 2014 (AFR) – Sydney subletting space dips as tenants move back

(27 Feb 2014, AFR, p40, Mercedes Ruehl)

‘Sublease space in Sydney’s CBD has dropped below the historic average for the first time in more than a decade.’

‘New subleasing deals are not the key reason for the small decrease, which is actually due, in large part, to space being given back to landlords directly in exchange for longer leases and tenants withdrawing sublease space with a view to re-occupying it. Also, a large amount of labelled ­sublease space has a very short term remaining and is being treated as direct lease space. The latest sublease barometer for Sydney from CBRE shows the amount of available space dropped to 55,960 square metres in January, below the historic average for the first time since 2002.’

Read more at AFR.com (might need AFR login access)

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