Double Bay retail rents tumble 10%, but Sydney super-prime not immune either

Jonathan ChancellorFeb 5, 2012

Sydney CBD super-prime net face retail rents fell 6.2% in the December quarter to an indicative $7,560 per square metre, but landlords have a very low vacancy rate of 0.6%.

Regional shopping centre rents rose by about 3.2% in part due to council approval delays for new retail space.

Prime strip retail is typically showing a 5.5% vacancy rate, with rents down 1.2% in the December quarter.

Oxford Street and Double Bay were the weakest, with CBRE saying Double Bay gross face rents fell 10% in the December quarter.

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Jonathan Chancellor

Jonathan Chancellor is one of Australia's most respected property journalists, having been at the top of the game since the early 1980s. Jonathan co-founded the property industry website Property Observer and has written for national and international publications.