The Sunshine Coast has recorded a significant drop in office market vacancy in what has been labelled a positive sign for the region’s economy.
The latest Property Council of Australia Office Market Report, released today, has found that vacancy rates on the Sunshine Coast fell from 21.9 percent in January 2019 to 16.7 percent in January 2020.
Healthy demand for local office space has driven the result, with over 10,000sqm of office space filled over 2019, explained Chris Mountford, Queensland Executive Director of the Property Council of Australia.
“After two years of increased office vacancy on the Sunshine Coast, it is extremely positive to see such a strong take up of office space over the course of 2019,” Mr Mountford said.
“Particularly in A Grade stock, we’ve recorded a very strong level of demand from Sunshine Coast tenants.
“With a significant amount of office space mooted to be delivered through the Maroochydore CBD project, the Property Council has been engaged with Council decision makers on how the future balance of the Sunshine Coast office market can best be managed,” concluded Mr Mountford.
