Commercial Sector - opportunity amid uncertainty

"Australia’s commercial building sector is set to emerge as an area of opportunity over coming years as the boom in residential work subsides," - a new forecast suggests.

Disruption is driving waves of change across every major industry. The real estate industry which has been the least disrupted industry so far, seems to be showing accelerated signs, thanks to rapid developments in work dynamics, demographic shifts and ever increasing needs for sustainable infrastructure as well as better and faster data access to technology.

Australian cities today, are no longer driven by just the mining and tourism sectors. Technology companies have started to drive unprecedented growth over the last five years and it seems this growth is here to stay. Moving forward, as the industry prepares for smart cities and mobility, commercial services companies seem to have no choice but to be constantly aware of new developments in this demanding ecosystem.

Donald Cant Watts Corke has been at the forefront of construction and development in the Australian commercial sector over the past decade, offering professional services to both large and small operators as they continually expand and modernise their operations. It has been our ethos to always ensure the most optimal project outcomes for our clients and their stakeholders. Our portfolio comprises of a number of prestigious and mega scale projects nationally:

Our Victorian Project Management and Quantity Surveying teams have recently commenced work on the prestigious 405 Bourke Street project. This is an exceptional, prime grade office development in the mid-town precinct of Melbourne’s CBD - encompassing new generation workspaces, generous car parking and a new retail arcade. The 156 metre tower will comprise 61,500 square metres of net lettable area over 28 office levels and will integrate the latest in workplace design to create a modern, inter-connected building.

The Donald Cant Watts Corke WA team proudly partnered with Woods Bagot, to deliver a multi-award winning studio in Perth. Featuring a re-design of the mezzanine atrium into a shared social area, the new studio boasts high ceilings, enclosed meeting areas, communal lounge spaces and flexible free-desk arrangements. Not surprisingly, the Perth Studio received a number of Design Institute of Australia (WA) Excellence Awards.

In addition, our Adelaide team has successfully been providing strategic commercial advice, Quantity Surveying and Engineering Services Cost Management Services to Santos, for the 50 Flinders Street office consolidation project. The exceptionally high quality fit-out incorporates open plan, meeting and conference facilities and key breakout areas, all of which are supplemented with the necessary supporting functional spaces.

Some of our other commercial project include: the Fuji Xerox fitout in Canberra, the ATO Headquarters fitout in Brisbane, the Charles Darwin Centre fitout in NT and the Sydney Water Corporate Headquarters where our NSW team provided Quantity Surveying and Independent Certification services.

What’s in store for 2018?

According to a recent forecast report, the commercial leasing cycle is only just getting started, which is expected to drive more office development. Sustainable buildings and the increasing millennial workforce are driving companies to invest in environmentally friendly and socially savvy workplaces.

Some of the key trends which are likely to affect commercial construction over the next 12 months are:

• Amazon has been a major disruptor of many industries. With its foray into the Australian market, it is already changing the shopping habits of Australian shoppers. Most businesses are now scrambling to change their space and business strategies. As a result, there will be a higher demand for construction related to office space and resort and hotel accommodations.
• At the moment, Australia continues to show solid economic growth and a strong commercial property market. However, it’s unlikely we will remain immune to what is occurring overseas. Whether this will be because of the increasingly uncertain political affairs in the US, or disruption to global trade, the threat of geopolitical risk will continue.

For more information about the various services we offer across the Commercial sector, Paul Tomsic - our Sector Lead, is available to assist you.

“Many things have changed over the last 50 years, but we have never lost our drive towards being a trusted advisor; a real partner with our clients. This commitment is our foundation for the future.”   Glenn Corke

Pictured above: ANZ Headquarters, Docklands, VIC