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Hi, Anna Lynch here at Perth Commercial Property.
In the update I’ve put together for you this fortnight, we’ll touch on the most expensive office markets in the world. You’ll be surprised where Perth actually comes in.
Why, as a result of recently introduced Sunday trading, you may be paying too much as a retail business!
A name change for a major group of national shopping centers, along with the introduction of a massive discount supermarket chain to WA, Aldi bringing up to 60 new stores.
According to CBRE’s December report, The top five most expensive prime office space markets are,
- At number one, Hong Kong,
- Number two, London,
- Followed by Tokyo,
- And then Beijing
- And New Delhi.
Sydney comes in at number 14, while Perth comes in, in the top 20 at number 20. This is up 10 percent on the prior year.
Changes to the retail trading hours in 2012, mean that from the 26th of August, all general retailers may now open from 11:00am to 5:00pm on a Sunday. It is to be remembered though, that it is the decision of the retailer whether or not they remain open on a Sunday.
Further, the Commercial Tenancies Agreement Act ensures that tenants can only be charged for operating expenses on a Sunday if they’re actually open on a Sunday.
German discount supermarket Aldi has announced a plan to set up 50 to 60 supermarkets across WA. Aldi predicts it could create up to 1,200 jobs in the WA market, as well as injecting significant funds into the commercial market.
In other news, shareholders have approved the name change of shopping center chain ‘Centro’ to ‘Federation Centers’.
Federation Centers currently has 41 stores across Australia.
Now, if you’d like to do your own sales research, head on over to the Landgate website, you’ll find the link under this video, and there, for less than $6.00, you’ll be able to find sales reports for individual properties streets and even suburbs.
Okay, that’s it for this week. If you have any questions, feel free to give me a call, and remember, I answer all emails personally.