Investment activity in the Perth office market remains almost non-existent, with very few office assets trading hands and institutional owners looking to sell assets. However, leasing conditions and activity are reasonably strong. As such, Dorado is cautiously optimistic that we are close to an attractive entry point for acquiring office.
For this reason, Dorado is closely monitoring market conditions, including rental absorption, rental growth prospects, the supply pipeline, and changes in tenant demands. We have assessed a number of interesting office acquisition opportunities over the last 12 months, and continue to assess new opportunities as they come to market.
Analysing the most recent data, this short briefing provides an evaluation of both the bull and bear cases for the Perth office market, focusing on key demand drivers such as population growth, economic diversification, and tenant preferences, as well as supply-side factors like new developments and construction costs.
Notwithstanding the macro factors discussed herein, it is Dorado’s opinion that not all assets will be attractive, and careful evaluation of the specific micro factors that affect each asset will be important in sifting out the best acquisition targets.
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