The shift to working from home is hitting landlords of larger companies harder than smaller ones, with some CBD towers sitting near-empty while fringe offices enjoying 90 per cent-plus occupancy rates, property executives say.

The exodus from workplaces that began with the COVID-19 pandemic had turned the tables on the office sector’s long-standing arrangement, and Cbus Property now had a 12-year-old tower in Melbourne’s Docklands that was “probably empty,” Adrian Pozzo, the chief executive of the major developer and landlord, said.