Sydney CBD commercial market may reduce by 6%: Savills

Sydney CBD commercial market may reduce by 6%: Savills
Sydney CBD commercial market may reduce by 6%: Savills

Up to 300,000 square metres of office building space in Sydney's CBD will be withdrawn from the market over the next three years given the trend of converting commercial space into residential living or hotel use.

According to Savills, the potential change may shrink the size of the Sydney CBD market by 6%.

The July 2015 Savills Sydney office briefing noted the commercial towers, International Towers Sydney T1, T2 and T3 in Barangaroo will meet the bulk of future supply  

 

 

Michael Crawford

Michael Crawford

Michael is the real estate reporter for western Sydney and loves writing about homes and the people who live in them. A former production editor and news journalist, he enjoys writing about real-world property purchases as well as aspirational buys and builds. Following a recent move from Sydney’s northern beaches, Michael now actually enjoys commuting.

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Sydney Cbd

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