Tenants race for top towers as B-grade buildings empty
The amount of office space leased in the country’s best office towers is rising while demand for secondary buildings is contracting, as the divide between CBD winners and losers sharpens.
A breakdown of the overall take-up of CBD office space over the first quarter – described as “net absorption” in the commercial real estate sector – shows 190,300 square metres was leased in the prime office towers over the 12 months to the end of March. In contrast, negative 233,700sq m was leased in secondary buildings over the same period, according to a JLL analysis.
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