Market Rent Reviews – The Need for expert valuation advice
Monday, July 30th, 2018It is well publicised that the commercial, industrial and retail property market has declined in recent years following a downturn in the Western Australian economy. In these conditions, it is important to obtain expert valuation advice for Market Rent Reviews. The commercial office market has been the hardest hit, with significant reductions in rents and a surplus of offices available for lease, particularly in the fringe CBD and inner suburban locations of Perth. This surplus provides tenants with many opportunities and an ability to negotiate favourable lease terms for new space. Examples have included significant rental abatement’s of between 25%-50% ...
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