Pete Wargent blogspot

CEO AllenWargent Property Buyers, & WargentAdvisory (institutional). 6 x finance author.

'Huge fan of your work. Very impressive!' - Scott Pape, The Barefoot Investor, Australia's #1 bestseller.

'Must-read, must-follow, one of the finest analysts in Australia' - Stephen Koukoulas, ex-Senior Economics Adviser to Prime Minister Gillard.

'One of Australia's brightest financial minds, must-follow for accurate & in-depth analysis' - David Scutt, Business Insider.

'I've been investing 40 years yet still learn new concepts from Pete; one of the finest young commentators' - Michael Yardney, Amazon #1 bestseller.

'The most knowledgeable person on Aussie real estate - loads of good data & charts...most comprehensive analyst I follow in Oz' - Jonathan Tepper, Variant Perception, 2 x NYT bestseller.

Friday, 3 February 2017

Sydney office shortage

I've had a look around one of Australia's most ambitious commercial projects - both through the construction phase and after completion - Lend Lease's Barangaroo project in Sydney.  

I have to admit it's impressive stuff.

Despite the addition of this quality supply, Savills have reported chronic shortages in office space and rapid increases in rents. 

The new A-grade stock is doing fine, but there's a desperate shortage of secondary stock (if you've ever worked in Sydney CBD you'll know only too well how dated some of the office space can be). 

See Savill's reported figures for changes in net effective rents here