CBRE: Logistics rents in Melbourne up 1% in 2016
In its Asia Pacific Market Outlook 2016, CBRE highlighted how growth in rents on prime logistics property across the region will likely slow in 2016. CBRE noted that it is looking for rents on prime logistics property in Melbourne to rise by 1% in 2016. In 2015, such rents fell by 3%, which meant that Melbourne was an unusual market in a regional context. Supply of new prime logistics space in Melbourne over 2016 and 2017 is expected to amount to about 7.5 million square feet. Over the five years to the end of 2015, an average of just over 5 million square feet of prime logistics space became available each year.
Source : CBRE/ February 2016/Melbourne/IND