Business Services Industry
Prestige tenants ready to pay a premium for life at the top.
Australasian Business Intelligence, September, 2006
Byline: Sue Fitzgerald
Sep 27, 2006 (The Australian Financial Review - ABIX via COMTEX) -- The demand for the top floors in big city buildings has risen in Melbourne and Sydney. The top floors command the highest rents, because of the prestige and the panoramic views. The demand for such offices declined after the terrorist attacks on the World Trade Center in New York on 11 September 2001. However, this fear has lessened and wealthy tenants want the top floors. The firms which rent these offices tend to be in financial services or fund management. The top floors of the Rialto Towers in Melbourne command a rent of $A600 per sq m. The demand for such space in Sydney and Melbourne is very high, so supply is limited.
Publication Date: 28 September...
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