Melbourne South-East North West City Fringe Net face rent ($ sqm) $110 $96 $96 $180 Incentive (%) 14.0 20.0 20.0 8.0 Yield (%) 3.9 3.9 3.9 3.8 Capital value ($ sqm) $2,826 $2,460 $2,460 $4,764 Melbourne prime industrial market indicators Victoria’s economy was hit especially hard by the pandemic, however, momentum picked up as the state moved beyond the use of lockdown restrictions. This impetus has held into 2022 as catch-up growth persists to help drive the state’s economy. In the long run, we still expect the state to outperform the national average, but by less than was expected pre-COVID. Leading into the pandemic, Victoria’s strong performance was partially driven by rapid expansions in higher education and tourism, and there will be permanent losses in these areas. 9 Industrial Market Monitor | 2nd Half 2022
RkJQdWJsaXNoZXIy MTI3ODI1