West Perth proves a CBD alternative

Tuesday, 30 March, 1999 - 22:00
WEST Perth has become the major alternative office market to the CBD.

Located within a kilometre of the CBD fringe, its reputation as a CBD alternative, combined with outgoings and parking efficiencies, makes it attractive to both tenants and potential investors, according to a market summary by Chesterton International.

It found the current and future demand for office accommodation is dictated by a factors including the general economy, the state of the resource sector, levels of cost efficiency analysis and space consolidation activity.

And, although the economy is in a sound starting position for 1999, a short-term slow-down is expected followed by further periods of growth.

The Chesterton research found mergers and acquisitions historically and at present were resulting in reduced space requirements.

“The synergies of amalgamating has allowed various companies to trim their space requirements and sub-lease space that is no longer needed,” it said.

“Economic and resource uncertainties are adversely affecting the West Perth office market with firms tending to remain in their current premises, sub-lease excess space and delay negotiations for additional space.”