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Damian Stone says a focus on occupying larger, longer-term vacancies will help lower vacancy rates across Perth’s metropolitan region. Photo: Attila Csaszar

B-grade buildings in limbo

New research into Perth’s office market vacancies has highlighted the need to improve or repurpose larger, older B-grade office spaces as an effective means to lift occupancy rates by the end of the decade.

Y Research’s inaugural ‘Office Not Occupied Index’ outlines the number of Perth office properties with spaces larger than 1,000 square metres that have been vacant for more than 12 months.

It found more than 125 properties across 50 suburbs from Joondalup to Rockingham, in addition to West Perth and the CBD fell into this category. Despite representing just 4.9 per cent of Perth’s office buildings, these properties were found to contain 49 per cent of the 800,000sqm currently vacant across metropolitan Perth.

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