Our Eastern Seaboard Industrial Vacancy Report for Q4 2020 is now available. The report provides industrial vacancy rates for buildings over 10,000m2 across three capital cities on the Eastern Seaboard.
Overall, we’re seeing vacancy rates come down in Melbourne and Sydney, yet creeping up in Brisbane on the back of significant speculative activity. The statistics are 2.5% in Melbourne, 3.4% in Sydney and 5.6% in Brisbane.
The Q4 2020 statistics resulted in a slight increase in the overall vacancy rate over the past quarter. The level of increase has been contained with a number of speculative developments paused in the early months of Covid – this, coupled with overall demand, has been quite strong with expansionary growth in a number of sectors, most notably medical.
We expect a number of the paused speculative developments will soon re-commence, if they haven’t already. Pre-commitment demand remains very strong, led by the major retailers and rapidly growing e-commerce businesses. Land supply constraints in the key sub markets and continued larger format user demand is likely to ensure vacancy levels remain contained in the short to medium term.
Click on the thumbnail below to download a copy of the report.