INTRO 01
RESHAPING THE CITY: PERTH
Clustering defines the tenant base, with mining, government, financial institutions, and professional services each reinforcing distinct footprints in the city.
KEY TAKEAWAYS
Centralisation remains powerful, with demand pulling toward the Statistical Division 3 area. Flight to quality continues, as tenants gravitate toward higher-floor, better-equipped buildings that deliver on amenity and value. Clustering defines the tenant base, with mining, government, financial institutions, and professional services each reinforcing distinct footprints in the city. Perth’s market is smaller and more balanced in its distribution of core and non-core stock, but the fundamentals are clear: the best-located and best-designed space still outperforms. Even as many major occupiers adopt flexible Return to Office (RTO) policies, their CBD presence remains sticky. The CBD’s top 50 tenants by occupied area account for one-third of total space and over half of prime stock, underscoring the enduring role of the CBD in housing Perth’s most critical industries. As the market recalibrates, the question is less whether Perth’s CBD will reshape, but more on how its core, quality assets and sector clusters will define the city’s next chapter.
DYNAMICS SHAPING DEMAND | CENTRALISATION | FLIGHT TO QUALITY SECTOR CLUSTERING PERTH’S OFFICE RESET
DUCTION
STATISTICAL DIVISION 3 | LOWER VACANCY | STRONGER ABSORPTION ELEVATION RESILIENCE CORE ADVANTAGE
BUILDING QUALITY INDEX TIERS WEAKER A-GRADE AT RISK QUALITY DIVIDE
Perth’s CBD is entering a new phase of evolution. Shaped by the same forces transforming office markets across Australia – centralisation, flight to quality, densification – its dynamics are playing out on a more concentrated stage.
HIGH ATTENDANCE, SOFT MANDATES
CBD BUSY TODAY | FUTURE DEMAND FLUID | FIRMS TRIAL NEW MODELS
275,000 SQM OF PRIME CBD SPACE BY 2026–28 60% ON LOWER FLOORS STRESS TEST FOR CORE VS FRINGE LEASE EXPIRY TEST
CUSHMAN & WAKEFIELD | 5
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