Harrison McLean Commercial, 193-195 Parramatta Road, Annandale, Sydney (2026)

28/01/2024

Embracing Workspace Reinvention: Transforming Workspaces for Success

In the ever-evolving landscape of business, Australian companies are breaking free from the traditional office mold. Shifting away from cubicles, businesses are embracing innovative workspaces to prioritize staff wellbeing and engagement.

🍽️ Convenient lunchtime fare, rooftop gardens, and cutting-edge end-of-trip facilities are just the beginning. Today's workplaces are designed by a collaboration of architects, interior designers, and landscape architects to inspire creativity.

🏡 Creating environments that rival home offices, these spaces offer private and comfortable areas. At 477 on Pitt Street, a hub in Sydney's Tech Central precinct, businesses thrive in a community that fosters collaboration and innovation.

🌱 Corporate social responsibility takes center stage, with businesses prioritizing meaningful work. From environmental activities to community outreach events, companies are aligning with a deeper sense of purpose.

🌍 Sustainably designed buildings and commitments to zero carbon emissions define the new wave of contemporary workspaces. Places like 477 not only prioritize wellbeing but also offer custom areas for community connection and socializing.

🚀 The result? Talent retention becomes a top priority for businesses aiming to thrive in the competitive landscape. Creating spaces that encourage happiness, health, and engagement is key to attracting and keeping the best talent.

20/01/2024

Canva's Campus Chronicles: Unveiling the Sustainable Sydney Hub

Canva, a unicorn start-up valued at approximately $40 billion, has unveiled plans for a flagship Sydney campus set to open in 2026, signaling its next phase of growth ahead of a potential IPO on the New York Stock Exchange (NYSE) in 2025 or 2026. The company recently submitted a development application for a building it acquired for around $120 million in Surry Hills. The 10-story, 8568 sqm facility aims to play a crucial role in Canva's expansion plans, particularly in the enterprise sector for visual communication. Despite the absence of a return-to-office mandate, the 12,000 sqm development underscores Canva's commitment to team growth and hybrid work models.

The sustainable design of the new campus includes measures such as renewable energy usage, a green roof for biodiversity, and communal spaces to foster collaboration and community connection. Canva's expansion comes after a year of significant global growth, with new offices established in Melbourne, Austin, Texas, and London. The company emphasizes its dedication to sustainability and social responsibility in its campus development.

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09/01/2024

JUST LISTED - 260 Unwins Bridge, Sydenham

06/01/2024

Is 2024 shaping up as a big year for businesses?

In 2024, the commercial business sales market is poised for growth, rebounding from a lackluster 2023. Key trends include a surge in legacy businesses hitting the market as owners plan retirement, ranging from $1 million to over $50 million. Tourism and accommodation businesses are expected to thrive, driven by a domestic holiday preference however, challenges loom for the hospitality sector due to rising costs, leading to market consolidation.

Service industries like accounting and commercial cleaning are predicted to do well, while petrol stations may diversify into EV charging. Childcare centers remain strong, and vendor finance is becoming a popular method for business transactions. Non-qualified commercial businesses, online ventures, and certain niche markets like NDIS-based businesses are anticipated to be in high demand.

20/12/2023

Commercial real estate in 2023 witnessed industrial resilience amid challenges faced by the office and retail sectors.

In 2023, the commercial real estate market presented a mixed picture. Industrial real estate stood out as the most resilient, experiencing strong rental growth, while office rents declined, and the retail sector faced ongoing challenges. Positive developments included the unveiling of Melbourne's tallest mass timber tower and the transformation of Sydney's West Olympia Theatre into a multifaceted precinct.

Industrial assets proved robust against interest rate hikes, attracting investor interest, while living sectors like Build To Rent and student accommodation performed well due to rental shortages. The office market faced persistent challenges from COVID-19, leading to declines in various metrics, with a 9% drop in capital values over the past year.

The retail sector had an overall result of -3.8%, with uneven performance based on the type of goods sold. The tourism market experienced higher returns, leading to increased hotel construction and openings. Queensland's office market, particularly in Brisbane and the Gold Coast, stood out for its positive performance.

Developers focusing on high-quality, sustainable office buildings, like Hines, saw demand despite negative sentiment. While some areas in Melbourne struggled, the eastern core and northern part of Sydney's CBD performed well.

The retail sector continued its battle for survival, facing challenges from online shopping and international competition. Despite the difficulties, there's optimism for improvement in 2024, with hopes that questions around inflation and interest rates will be addressed, bringing more certainty to the market. Entering the market at this time is seen as an opportunity for better returns.

10/12/2023

Thrilled to announce that the fantastic space on Canterbury Road has been successfully leased! This prime location, boasting 34 SQM of versatile space for retail or office setups, is now taken, and we extend our congratulations to the new tenant.

We thank everyone for their interest and congratulate the new tenant on securing this incredible opportunity. Stay tuned for more exciting opportunities with Kellys Property!

30/11/2023

JUST LEASED

Leases signed and new tenant moving in! Congratulations to our new business owners. We are all very excited how you transform the space and make it your own!

18/11/2023

Wooing workers: creating workplace FOMO

National CBD vacancy edged higher to 12.8 per cent in the six months to July, according to the Property Council of Australia’s latest Office Market Report, as the momentum behind a shift back to the office for staff appeared to stall in Melbourne and Sydney. Only in Brisbane did demand for space rise.

While vacancy rates have improved dramatically since the grim days of the height of the pandemic, choosing to lease floor space nevertheless remains a substantial cost for any operation.

Businesses must extract the highest possible productivity from each rented square metre, and that relies heavily on enticing workers back to the office.

Justin Rose, director of sales and leasing, city fringe at X Commercial, says it’s becoming more apparent that there are two tiers of commercial stock.

“We’ve got the newer built properties that in recent years have paid for nicer end-of-trip facilities, nicer foyers, outdoor areas, better-appointed kitchens. We’re finding there’s high demand for that stock.

“Whereas the older style offices, 15 to 20 years-plus [old], just aren’t leasing as well. They’re sitting on the market for a longer period of time.”

12/11/2023

High-end retail flies through economic turbulence

The Australian retail market is navigating post-pandemic challenges, but high-end brands in the luxury retail sector are thriving despite economic headwinds. Demand for luxury retailers remains strong in Sydney's CBD and high-end tourism hubs in south-east Queensland, even with increased construction costs for upscale store fit-outs. Limited space in Sydney and Melbourne's CBDs is leading retailers to explore opportunities in office towers, aiming to provide a holistic experience for consumers.

Colliers head of retail leasing, Michael Tuck, anticipates more luxury brands entering the market, driven by Australia's healthy population growth, economic stability, and high median wealth. The trend aligns with a global resurgence of flagship stores, with major brands opening in iconic locations. However, some brands are vulnerable to the downturn caused by rising living costs and fixed-rate mortgages up for renewal.

Despite challenges, investors are holding steady, and specialty vacancies in Melbourne's strip shopping hubs have decreased. Retail rents have remained stable, with CBD rents experiencing a slight drop. Market conditions, including monthly retail turnover, have softened, but a rebound is expected as business confidence improves. The national vacancy rate is at its lowest since late 2019, driven by suburban shopping centers' success during the pandemic.

Overall, the Retail Property Operators in Australia report predicts a market recovery as inflationary pressures ease, citing positive business confidence supporting retail property construction and investment. The increased supply of properties is expected to enhance income streams for retail property operators, fostering a positive outlook for the industry.

01/11/2023

DEPOSIT TAKEN - 3/100 Tennyson Road, Mortlake

Key Features of the premises include:

- Generous internal expanse spanning approximately 40sqm, complemented by an additional 11sqm of rear storage, coupled with the potential for an expansive 50sqm outdoor seating area.
- Securely allocated parking within an access-controlled facility.
- Equipped with a grease trap and ventilation provisions, catering to a range of culinary aspirations.

23/10/2023

FOR LEASE

- Location: 1/32 Rosehill Street, Redfern (Entrance from Margaret Street & Cornwallis Street)
- Prime 40 sqm Ground Floor Space with Street Exposure
- Parking: Secure car space included
- Bonus: 23 sqm storage cage for stock storage

Schedule a Viewing Today!
Ready to take your business to new heights? Don't miss this fantastic opportunity! Contact Philipp on 0498 388 338 or Harrison on 0498 988 005 now to schedule a viewing and envision your business thriving in this space.

11/10/2023

Commercial real estate sector primed for strong growth in 2024!

After a year of post-pandemic readjustment and recalibration, good times are just around the corner for the commercial real estate industry in Australia, one of the country’s leading investment bankers has forecast.

On Monday, Morgan Stanley Australia chair of investment banking Tim Church told the annual Australian Financial Review Property Summit – attended by most of the sector’s leaders – that the future looks extremely rosy.

“[This year] has been a planning exercise and a recalibration, and I think 2024 and 2025 are going to be the most productive years we’ve ever had,” he said.

Office assets now appear to have picked up in popularity as more people return to the workplace, retail is repositioning itself into more of an entertainment space to attract more customers, and industrial is simply roaring ahead, driven by the boom in e-commerce and accompanying demand for warehousing.

Harrison McLean Commercial

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