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Office landlords confident of market turnaround
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Office and industrial landlords have survived the COVID-19 pandemic and are looking to thrive as people return to workplaces, albeit under more flexible working arrangements that they split between home and the office.
Outgoing Stockland chief executive Mark Steinert said on Thursday at the group’s interim results there were signs of a turnaround in the office sector, with new leasing deals signed at “solid rents”.
Mr Steinert, who retires from Stockland after seven years at the helm, said the pandemic had given rise to a structural shift in office design but that shared workplaces would continue to be relevant.