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Occupiers have started to look further out of the CBD for accommodation as vacant space becomes insufficient for larger occupiers and rents rise. Several corporates have expressed interest for new office blocks within the fringe precinct. Tenant demand is expected to accelerate in the future, as office space becomes even more limited in the CBD market.
Investors have likewise been active in the market and as a reulst investment yields have compressed over the last 6 months.
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22 February 2015