Well you know we are in a downturn and the mining boom has ended when 22% of offices in the CBD are empty in Perth. This is the worst result in 23 years, going back to 1993 when the vacancy rate was this high. Rent is down 40% from figures in 2012 and BIS Shrapnel are suggesting that there are two more years of downturn before there is any change in momentum in Perth.
Many of the landlords for office spaces around Perth are offering rent incentives and some renovating empty floors into state of the art end-of-trip facilities that even a professional gym would be proud of. Has your office undergone such upgrades? let us know.
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