Our Market Forecast: Coffee Will Remain Essential

So, for this update, we thought we would give everyone a brief break.

• No economic forecasts.
• No graphs pointing in uncomfortable directions.
• No predictions about what the Reserve Bank may—or may not—do next.

Instead, here is our slightly less serious commercial property outlook.

Sometimes, a little perspective is just as valuable as another market report. Here’s to better news, productive workplaces and fewer meetings about meetings.

The Things We Know for Certain

• A “quick lease review” is rarely quick.
• Every office has at least one meeting room that nobody can operate.
• The perfect tenancy is usually available approximately three weeks after you have committed elsewhere.
• A builder’s definition of “nearly finished” can vary considerably.
• Nobody knows where all the spare access cards have gone.
• The air-conditioning will always be too hot for one person and too cold for another.
• And no commercial property project has ever been delayed by having too many prompt approvals.

Green Shoots We Can All Believe In

Despite the challenging headlines, businesses are still growing, relocating, refurbishing, negotiating and finding new ways to use their space.

People are returning to workplaces. New businesses are opening. Old buildings are being reinvented. Deals are still being done—and occasionally, everyone even agrees on the wording of the lease.

Commercial property has always moved in cycles. The trick is to remain practical, patient and prepared—and to maintain a healthy sense of humour when the programme, budget and landlord’s solicitor all have other ideas.

Our Current Market Forecast

• There is a 100% chance that good advice will remain useful.
• There is a strong possibility that properly managed projects will run more smoothly.
• And there is an excellent chance that coffee will continue to play a critical role in most successful negotiations.