City centre offices are viewed as prime locations. CBD’s are generally well serviced by public transport, making these offices most accessible by the largest cross-section of staff; allow for connections with other firms, organisations and even government to be maintained due to proximity; and are usually home to a city’s most modern and advanced buildings.
Demand for top quality workspaces in the Canberra CBD is currently so strong, the A-Grade vacancy rate is just 2.6 per cent – compared to a Territory wide vacancy rate of 8.5 per cent.
Canberra’s economy recorded the fastest growth of any state or territory last financial year. This strong economic growth is translating to strong jobs growth particularly in full time jobs. According to Deloitte white collar employment forecasts, there will be an additional 1,700 employed persons to June 2019, which equates to approximately 9,520sqm of additional space required in the ACT.
This means demand for CBD space will not wane, yet limited new stock is coming to market.
One of only two new office buildings under construction in the CBD, Civic Quarter will be completed by December 2019 and bring an additional 16,000sqm of workspace into Canberra’s city centre.
Civic Quarter Canberra will be a new landmark address for companies ready to embrace the workplace of the future. With state-of-the-art technology, flexible floorplates, 5-star NABERS Energy rating targets and business class amenities throughout, this truly is a 21st century building.
In the heart of the city’s employment hub, Civic Quarter is close to major public transport interchanges, the ACT Legislative Assembly, shops, restaurants, and green space.
It will also be the first building in the ACT to seek a WELL Rating. Civic Quarter has been designed to meet the standards for a WELL Silver Core and Shell rating.
Colliers International Director Office Leasing, Michael Ceacis said, “Because the space we work in impacts on our productivity, there has been a real push to better understand how buildings affect health and well-being and influence positive changes.
“Internationally, the WELL Building Standard is being embraced as the leading tool for advancing health and well-being in buildings globally.
“Being able to demonstrate achievements in occupant health, comfort and well-being will become increasingly expected. When we are leasing buildings we already see demand for ‘health’ contributors such as end of journey facilities that support active travel to work.”
“Civic Quarter will not only bring much needed additional space to the Canberra CBD, but it will raise the bar in terms of quality and innovation,” Colliers International Director Office Leasing, Aaron Bruce added.
“Companies eyeing the Canberra CBD for office space need to move quickly or risk missing out as demand and supply continue to keep vacancy rates low.”
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