The original LPC office was opened in Sydney in 1994, expanding nationally and into New Zealand.
A truly modern global city and home to over five million people, Sydney has a vibrant and expansive commercial property sector. It is a leading financial centre in the Asia Pacific region and home to the Australian Stock Exchange and Reserve Bank of Australia. Sydney’s CBD and surrounding commercial hubs at Parramatta, North Sydney and Macquarie Park are home to some 22,000 businesses including more than 300 corporate head offices.
Sydney - Office
The overall office market vacancy rate for Sydney CBD is currently sitting at 11.3% as of January 2023, being the highest vacancy rate for over the past decade. Leasing activity has slowed during Q4 2022 because of inflation, rising interest rates and the uncertainty in the overall global economy as these factors have damped business confidence.
Sydney - Industrial
To overview Sydney’s Industrial market, it is best to look at the Sydney west market where Net Face Rents continue to grow due to a lack of stock.
Sydney - Retail
Focusing on the Sydney CBD, retail space demand is underpinned by strong growth in luxury and premium brands. Food retailers also continue to grow and expand with supermarkets focusing on small-format convenience stores.