Continued Changes to the Office Landscape
Our N&B team are always in step with the commercial landscape, gaining valuable insight into cost, risk, and return across a project’s lifecycle. Over the past few years, we’ve seen a surge in investment in the revitalisation of commercial office buildings and central business hubs.
This increased activity has been driven by tenant demand and landlords re-prioritising the human experience, as an incentive for a return to workplaces. Amongst the works that property owners have delivered are modernised facades and foyers, building facilities, new speculative fitouts, End of Trip facilities and the creation of “third spaces”.
The national housing shortage has also sparked increased activity around converting commercial office properties into residential assets.
Napier & Blakeley have worked on various commercial office revitalisation projects around Australia for clients including AFIAA, AREF, AXA, Juilliard Corporation, NewActon, PGA and W Property. We’ve included images to illustrate some of the projects involving the enhancement and refurbishment of commercial buildings. Continue reading
2023 was another intriguing year in the construction and property markets.
Construction cost escalation reduced on the previous year, the cost of debt stabilised, and there was positive population growth, all good fundamentals for our industry.
Property transactions across all sectors remained lower than normal, however we were still busy providing Technical Due Diligence on many of the major deals; Sheraton Mirage Gold Coast, Fitzroy Island, D’Albora Marina portfolio, the Healthscope portfolio of private hospitals, 555 Collins Street Melbourne and 1 Esplanade Perth, to name but a few.
Our construction and development services were in high demand all year. We advised on more than 600 projects ranging from $1M to $400M and over $5 Billion in cost.
Clients are the lifeblood of the construction, development and property markets, and as always we thank them for their trust in us as part of their team, creating and improving our shared liveable, economic, and sustainable futures.
Year in, year out, we thank all our N & B people for their continued reliability, dedication, professionalism, innovation and good cheer.
Our community includes our industry friends, suppliers, sub consultants, colleagues and organisations and we look forward to 2024 and to the future achievements we will make together.
In lieu of gifts, we have again donated throughout the year to charitable organisations, such as the Sydney Breast Cancer Foundation, SurfAid, and PIF.
Our last day of business for the year is Friday 22nd December and our first day back is Wednesday 10th January.
From everyone at Napier & Blakeley, have a great festive season and a successful 2024.