Trump role in Melbourne CBD office market's suburb-sized hole
Commercial real estate firm JLL research shows the city recorded its second straight quarterly improvement in increasing office space take up in the past quarter, with 11,900sq m more space filled at the end of June than at the end of March.
They've estimated rising demand chewed through 50,000sq m of vacant office buildings across the first half of 2025, dragging the CBD's total office vacancy rate back below more than a million square metres, where it peaked late last year.
Annabel McFarlane, Head of Strategic Research at JLL calculated that without any major changes to the available supply of office space, about 385,870sq m of it, an area bigger than the Botanic Gardens, still needed to be filled in order to recover to its 10-year average vacancy rate of 11.2 per cent.
Currently, about 18.2 per cent of the city's office space, or 983,830sq m is empty — bigger than some suburbs, including Ripponlea and Gardenvale, and close to the size of Cremorne and Deepdene.
'However, we are already seeing the best assets and locations start to fill up,' Ms McFarlane said.
'Melbourne's CBD prime net effective rental growth returned to positive in the second quarter of 2025 and secondary net effective rents have stabilised.'
If the city continued to fill another 50,000sq m of office space every six months, it would take most of four years to get back to its pre-pandemic self.
However, JLL joint head of leasing advisory Nick Drake said it was likely to be faster than this, with rising population driving increased demand for space in the CBD — as well as a trend of head offices for major firms heading to the city from the suburbs this year, including Coles, home builder Simonds and logistics firm Toll Group.
'Melbourne's demand factors are stronger than a lot of the rest of the country, and it's affordable compared to other cities,' Mr Drake said.
'There will also be some buildings that will be converted to other uses. And there's some sites that have just been shelved for now as development is hard to stack up, so we won't see a lot more coming up for the rest of the decade.'
He added that there could also be significant boosts to leasing activity as fallout from US President Donald Trump's tariff policies settles in the coming months, with the confidence boost that stability would bring potentially enough to fill another MCG or two of CBD office space.
With the past quarter's office uptake softer than the first three months of the year, Mr Drake noted many businesses were looking but not committing to leases amid the fallout of Trump's announcements.
Another major change of direction could come if more businesses set return to office mandates, with a growing share of CBD-based firms now requiring their staff to attend the building at least three days a week.
Melbourne became the most locked-down city in the world during the Covid-19 pandemic, and its office workers have been among the slowest in the nation to return to their buildings.
That lack of staff returning has led to a number of large operators downsizing office spaces in the city's centre, and to it having the highest vacancy rate in the nation.
By contrast to the Victorian capitals more than 18 per cent vacancy rate in June, less than 10 per cent of Brisbane's office space is currently seeking a tenant.
And while Melbourne's June quarter office space absorption covered 11,900sq m, the figure in Sydney was 23,500.
Further positives in the JLL market analysis included a 1.4 per cent increase in rents over the past three months.
There is also rising strength in the city's most popular destinations, with the east end of Collins St, also known as the Paris end of the popular strip, now becoming difficult for firms to find any space in.
Demand is also up at the west end of Collins, and improving in Docklands, but relatively flat around most other parts of the CBD.
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The Advertiser
2 hours ago
- The Advertiser
Australian-developed electric Mini Moke now available
Australians can now buy a street-legal, all-electric Mini Moke, courtesy of Melbourne-based electric vehicle (EV) conversion company Jaunt Motors, but you'll have to pay handsomely for it. Jaunt's electric Moke conversion, which is now available for customer commission ahead of delivery in 2026, is priced from $140,000 – excluding the cost of the donor vehicle. The EV converter is also offering its new Moke EV conversion platform to independent workshops around Australia, including installation training and instruction, with trade prices starting at $90,000. CarExpert can save you thousands on a new car. Click here to get a great deal. Separately, Moke International is offering an electric Moke for the equivalent of about $69,500 including taxes, delivery and first registration fees in the UK, and has received approval to sell 1500 Mokes in the EU under that market's ultra-low volume vehicle regulations, as well as approval to sell 325 cars in the US this year. The company hopes it can make a similar case for ultra-low volume imports to Australia, where a significant proportion of customers are also expected to be high-end resorts that want to offer customers Moke EVs for complimentary use, short-term rental or as shuttle vehicles. However, Moke International's EV is yet to be confirmed for Australia while Jaunt says every component installed in its electric Moke is CAD designed and engineered to meet Australian Design Rules and local conditions, meaning its vehicles can be registered in every state and territory – a process it will complete before the car is delivered to you. Better known for creating battery-electric versions of the original Land Rover Defender as well as classic Mini Coopers and Porsche 911s, Jaunt also says it plans to extend its conversion platforms to other classic models such as the original Range Rover and Volkswagen Kombi, "making iconic vehicles more accessible, sustainable and engineered in a world moving toward zero-emissions". Based in Scoresby, Victoria, Jaunt specialises in converting classic and specialty vehicles to electric power with a focus on safety, compliance and craftsmanship, and says its engineered electric platforms and conversions "preserve the charm of iconic cars while making them safer, cleaner and better to drive". Jaunt's Moke EV is powered by a single front-mounted electric motor producing 72kW of power and 175Nm of torque, fed by a 19kWh battery pack that's mounted under the tub and takes between just two and three hours to recharge thanks to a 400-volt electrical architecture. Those numbers aren't big in a world of high-performance EVs, but Jaunt says its Moke can accelerate from 0-100km/h in just seven seconds – "even uphill" – in sport mode, while a regenerative braking system turns the motor into a generator to assist the mechanical brakes. Jaunt's electric upgrade retains the original Moke's low kerb weight, allowing it to be a four-seater without exceeding GVM, as well as its compact dimensions and nimble dynamics. However, it isn't being pitched as a high-performance EV, but one that's "ready for exactly what it was originally designed for: short, joyful, open-air drives". That said, a polished stainless steel-bodied version Jaunt built from the ground up and featuring LED lighting and CNC-machined badges is claimed to be lighter than the original Moke, while offering a better torque-to-weight ratio than a Tesla Model 3 Performance. In addition to the EV conversion and a 7.8:1 single gear ratio to suit larger 13-inch wheels, the retail version supplied directly to customers comes with upgraded brake, steering and suspension systems, plus ADR-compliant seats with seatbelts mounted to a new roll bar system covered by a custom canvas top. Based around a new BMH front sub-frame, the EV system bolts to existing mounting points under the bonnet and comprises the battery, electric motor and inverter, plus driveshafts, a motor cooling system, bi-directional charger and a completely new integrated 12-volt electrical system. It also comes with a new centre dash panel complete with modern digital gauges and controls, an electric parking brake, pop-up charge port and all of the necessary body block-out panels. Braking, steering and suspension systems can be further customised to meet customer needs, and additional custom parts are also available. Jaunt Motors CEO and co-founder Dave Budge says all of this gives the humble old Moke the ability to perform like a brand-new vehicle despite being originally built more than half a century ago. "Classic cars are charming," he said. "They've got stories, they've got soul. But they're also unreliable and are getting harder to maintain. What we're doing isn't about reinventing the car. It's about keeping what was great and fixing everything that wasn't. "This isn't just a loose collection of parts. It's a complete platform we've engineered, built and tested to ADR compliance and the latest EV safety standards. "Now we're making it available to others who care about doing conversions correctly. It allows restorers and auto specialists to deliver fully roadworthy electric Mokes that are safe, legal and will last another 50 years." MORE: Meet the Melbourne startup turning old Land Rovers into electric vehicles Content originally sourced from: Australians can now buy a street-legal, all-electric Mini Moke, courtesy of Melbourne-based electric vehicle (EV) conversion company Jaunt Motors, but you'll have to pay handsomely for it. Jaunt's electric Moke conversion, which is now available for customer commission ahead of delivery in 2026, is priced from $140,000 – excluding the cost of the donor vehicle. The EV converter is also offering its new Moke EV conversion platform to independent workshops around Australia, including installation training and instruction, with trade prices starting at $90,000. CarExpert can save you thousands on a new car. Click here to get a great deal. Separately, Moke International is offering an electric Moke for the equivalent of about $69,500 including taxes, delivery and first registration fees in the UK, and has received approval to sell 1500 Mokes in the EU under that market's ultra-low volume vehicle regulations, as well as approval to sell 325 cars in the US this year. The company hopes it can make a similar case for ultra-low volume imports to Australia, where a significant proportion of customers are also expected to be high-end resorts that want to offer customers Moke EVs for complimentary use, short-term rental or as shuttle vehicles. However, Moke International's EV is yet to be confirmed for Australia while Jaunt says every component installed in its electric Moke is CAD designed and engineered to meet Australian Design Rules and local conditions, meaning its vehicles can be registered in every state and territory – a process it will complete before the car is delivered to you. Better known for creating battery-electric versions of the original Land Rover Defender as well as classic Mini Coopers and Porsche 911s, Jaunt also says it plans to extend its conversion platforms to other classic models such as the original Range Rover and Volkswagen Kombi, "making iconic vehicles more accessible, sustainable and engineered in a world moving toward zero-emissions". Based in Scoresby, Victoria, Jaunt specialises in converting classic and specialty vehicles to electric power with a focus on safety, compliance and craftsmanship, and says its engineered electric platforms and conversions "preserve the charm of iconic cars while making them safer, cleaner and better to drive". Jaunt's Moke EV is powered by a single front-mounted electric motor producing 72kW of power and 175Nm of torque, fed by a 19kWh battery pack that's mounted under the tub and takes between just two and three hours to recharge thanks to a 400-volt electrical architecture. Those numbers aren't big in a world of high-performance EVs, but Jaunt says its Moke can accelerate from 0-100km/h in just seven seconds – "even uphill" – in sport mode, while a regenerative braking system turns the motor into a generator to assist the mechanical brakes. Jaunt's electric upgrade retains the original Moke's low kerb weight, allowing it to be a four-seater without exceeding GVM, as well as its compact dimensions and nimble dynamics. However, it isn't being pitched as a high-performance EV, but one that's "ready for exactly what it was originally designed for: short, joyful, open-air drives". That said, a polished stainless steel-bodied version Jaunt built from the ground up and featuring LED lighting and CNC-machined badges is claimed to be lighter than the original Moke, while offering a better torque-to-weight ratio than a Tesla Model 3 Performance. In addition to the EV conversion and a 7.8:1 single gear ratio to suit larger 13-inch wheels, the retail version supplied directly to customers comes with upgraded brake, steering and suspension systems, plus ADR-compliant seats with seatbelts mounted to a new roll bar system covered by a custom canvas top. Based around a new BMH front sub-frame, the EV system bolts to existing mounting points under the bonnet and comprises the battery, electric motor and inverter, plus driveshafts, a motor cooling system, bi-directional charger and a completely new integrated 12-volt electrical system. It also comes with a new centre dash panel complete with modern digital gauges and controls, an electric parking brake, pop-up charge port and all of the necessary body block-out panels. Braking, steering and suspension systems can be further customised to meet customer needs, and additional custom parts are also available. Jaunt Motors CEO and co-founder Dave Budge says all of this gives the humble old Moke the ability to perform like a brand-new vehicle despite being originally built more than half a century ago. "Classic cars are charming," he said. "They've got stories, they've got soul. But they're also unreliable and are getting harder to maintain. What we're doing isn't about reinventing the car. It's about keeping what was great and fixing everything that wasn't. "This isn't just a loose collection of parts. It's a complete platform we've engineered, built and tested to ADR compliance and the latest EV safety standards. "Now we're making it available to others who care about doing conversions correctly. It allows restorers and auto specialists to deliver fully roadworthy electric Mokes that are safe, legal and will last another 50 years." MORE: Meet the Melbourne startup turning old Land Rovers into electric vehicles Content originally sourced from: Australians can now buy a street-legal, all-electric Mini Moke, courtesy of Melbourne-based electric vehicle (EV) conversion company Jaunt Motors, but you'll have to pay handsomely for it. Jaunt's electric Moke conversion, which is now available for customer commission ahead of delivery in 2026, is priced from $140,000 – excluding the cost of the donor vehicle. The EV converter is also offering its new Moke EV conversion platform to independent workshops around Australia, including installation training and instruction, with trade prices starting at $90,000. CarExpert can save you thousands on a new car. Click here to get a great deal. Separately, Moke International is offering an electric Moke for the equivalent of about $69,500 including taxes, delivery and first registration fees in the UK, and has received approval to sell 1500 Mokes in the EU under that market's ultra-low volume vehicle regulations, as well as approval to sell 325 cars in the US this year. The company hopes it can make a similar case for ultra-low volume imports to Australia, where a significant proportion of customers are also expected to be high-end resorts that want to offer customers Moke EVs for complimentary use, short-term rental or as shuttle vehicles. However, Moke International's EV is yet to be confirmed for Australia while Jaunt says every component installed in its electric Moke is CAD designed and engineered to meet Australian Design Rules and local conditions, meaning its vehicles can be registered in every state and territory – a process it will complete before the car is delivered to you. Better known for creating battery-electric versions of the original Land Rover Defender as well as classic Mini Coopers and Porsche 911s, Jaunt also says it plans to extend its conversion platforms to other classic models such as the original Range Rover and Volkswagen Kombi, "making iconic vehicles more accessible, sustainable and engineered in a world moving toward zero-emissions". Based in Scoresby, Victoria, Jaunt specialises in converting classic and specialty vehicles to electric power with a focus on safety, compliance and craftsmanship, and says its engineered electric platforms and conversions "preserve the charm of iconic cars while making them safer, cleaner and better to drive". Jaunt's Moke EV is powered by a single front-mounted electric motor producing 72kW of power and 175Nm of torque, fed by a 19kWh battery pack that's mounted under the tub and takes between just two and three hours to recharge thanks to a 400-volt electrical architecture. Those numbers aren't big in a world of high-performance EVs, but Jaunt says its Moke can accelerate from 0-100km/h in just seven seconds – "even uphill" – in sport mode, while a regenerative braking system turns the motor into a generator to assist the mechanical brakes. Jaunt's electric upgrade retains the original Moke's low kerb weight, allowing it to be a four-seater without exceeding GVM, as well as its compact dimensions and nimble dynamics. However, it isn't being pitched as a high-performance EV, but one that's "ready for exactly what it was originally designed for: short, joyful, open-air drives". That said, a polished stainless steel-bodied version Jaunt built from the ground up and featuring LED lighting and CNC-machined badges is claimed to be lighter than the original Moke, while offering a better torque-to-weight ratio than a Tesla Model 3 Performance. In addition to the EV conversion and a 7.8:1 single gear ratio to suit larger 13-inch wheels, the retail version supplied directly to customers comes with upgraded brake, steering and suspension systems, plus ADR-compliant seats with seatbelts mounted to a new roll bar system covered by a custom canvas top. Based around a new BMH front sub-frame, the EV system bolts to existing mounting points under the bonnet and comprises the battery, electric motor and inverter, plus driveshafts, a motor cooling system, bi-directional charger and a completely new integrated 12-volt electrical system. It also comes with a new centre dash panel complete with modern digital gauges and controls, an electric parking brake, pop-up charge port and all of the necessary body block-out panels. Braking, steering and suspension systems can be further customised to meet customer needs, and additional custom parts are also available. Jaunt Motors CEO and co-founder Dave Budge says all of this gives the humble old Moke the ability to perform like a brand-new vehicle despite being originally built more than half a century ago. "Classic cars are charming," he said. "They've got stories, they've got soul. But they're also unreliable and are getting harder to maintain. What we're doing isn't about reinventing the car. It's about keeping what was great and fixing everything that wasn't. "This isn't just a loose collection of parts. It's a complete platform we've engineered, built and tested to ADR compliance and the latest EV safety standards. "Now we're making it available to others who care about doing conversions correctly. It allows restorers and auto specialists to deliver fully roadworthy electric Mokes that are safe, legal and will last another 50 years." MORE: Meet the Melbourne startup turning old Land Rovers into electric vehicles Content originally sourced from: Australians can now buy a street-legal, all-electric Mini Moke, courtesy of Melbourne-based electric vehicle (EV) conversion company Jaunt Motors, but you'll have to pay handsomely for it. Jaunt's electric Moke conversion, which is now available for customer commission ahead of delivery in 2026, is priced from $140,000 – excluding the cost of the donor vehicle. The EV converter is also offering its new Moke EV conversion platform to independent workshops around Australia, including installation training and instruction, with trade prices starting at $90,000. CarExpert can save you thousands on a new car. Click here to get a great deal. Separately, Moke International is offering an electric Moke for the equivalent of about $69,500 including taxes, delivery and first registration fees in the UK, and has received approval to sell 1500 Mokes in the EU under that market's ultra-low volume vehicle regulations, as well as approval to sell 325 cars in the US this year. The company hopes it can make a similar case for ultra-low volume imports to Australia, where a significant proportion of customers are also expected to be high-end resorts that want to offer customers Moke EVs for complimentary use, short-term rental or as shuttle vehicles. However, Moke International's EV is yet to be confirmed for Australia while Jaunt says every component installed in its electric Moke is CAD designed and engineered to meet Australian Design Rules and local conditions, meaning its vehicles can be registered in every state and territory – a process it will complete before the car is delivered to you. Better known for creating battery-electric versions of the original Land Rover Defender as well as classic Mini Coopers and Porsche 911s, Jaunt also says it plans to extend its conversion platforms to other classic models such as the original Range Rover and Volkswagen Kombi, "making iconic vehicles more accessible, sustainable and engineered in a world moving toward zero-emissions". Based in Scoresby, Victoria, Jaunt specialises in converting classic and specialty vehicles to electric power with a focus on safety, compliance and craftsmanship, and says its engineered electric platforms and conversions "preserve the charm of iconic cars while making them safer, cleaner and better to drive". Jaunt's Moke EV is powered by a single front-mounted electric motor producing 72kW of power and 175Nm of torque, fed by a 19kWh battery pack that's mounted under the tub and takes between just two and three hours to recharge thanks to a 400-volt electrical architecture. Those numbers aren't big in a world of high-performance EVs, but Jaunt says its Moke can accelerate from 0-100km/h in just seven seconds – "even uphill" – in sport mode, while a regenerative braking system turns the motor into a generator to assist the mechanical brakes. Jaunt's electric upgrade retains the original Moke's low kerb weight, allowing it to be a four-seater without exceeding GVM, as well as its compact dimensions and nimble dynamics. However, it isn't being pitched as a high-performance EV, but one that's "ready for exactly what it was originally designed for: short, joyful, open-air drives". That said, a polished stainless steel-bodied version Jaunt built from the ground up and featuring LED lighting and CNC-machined badges is claimed to be lighter than the original Moke, while offering a better torque-to-weight ratio than a Tesla Model 3 Performance. In addition to the EV conversion and a 7.8:1 single gear ratio to suit larger 13-inch wheels, the retail version supplied directly to customers comes with upgraded brake, steering and suspension systems, plus ADR-compliant seats with seatbelts mounted to a new roll bar system covered by a custom canvas top. Based around a new BMH front sub-frame, the EV system bolts to existing mounting points under the bonnet and comprises the battery, electric motor and inverter, plus driveshafts, a motor cooling system, bi-directional charger and a completely new integrated 12-volt electrical system. It also comes with a new centre dash panel complete with modern digital gauges and controls, an electric parking brake, pop-up charge port and all of the necessary body block-out panels. Braking, steering and suspension systems can be further customised to meet customer needs, and additional custom parts are also available. Jaunt Motors CEO and co-founder Dave Budge says all of this gives the humble old Moke the ability to perform like a brand-new vehicle despite being originally built more than half a century ago. "Classic cars are charming," he said. "They've got stories, they've got soul. But they're also unreliable and are getting harder to maintain. What we're doing isn't about reinventing the car. It's about keeping what was great and fixing everything that wasn't. "This isn't just a loose collection of parts. It's a complete platform we've engineered, built and tested to ADR compliance and the latest EV safety standards. "Now we're making it available to others who care about doing conversions correctly. It allows restorers and auto specialists to deliver fully roadworthy electric Mokes that are safe, legal and will last another 50 years." MORE: Meet the Melbourne startup turning old Land Rovers into electric vehicles Content originally sourced from:
West Australian
4 hours ago
- West Australian
WA to be thunderstruck as AC/DC, Ed Sheeran, Ashes and WWE head to town from September
Bryan Adams might well claim the summer of '69 as the greatest, the summer of 2025 in WA is shaping as one to remember for sporting and musical diehards. AC/DC, Metallica, Ed Sheeran, the Ashes, and WWE are just some of the events scheduled for Optus Stadium and RAC Arena from September through to the end of January. Tourism representatives and the State Government this week salivated at the potential economic and social spinoffs to WA because the events. 'We want WA to remain the strongest economy in the nation. That's why we're diversifying our economy for the future by bringing big-name events to Perth that will attract thousands of visitors and pump millions into the local economy,' Acting Premier Rita Saffioti said. 'For every dollar spent on these events, we have a return of $3.50 — that's money going straight into the pockets of WA businesses. 'Importantly, these events put us on the global stage, positioning WA as an event destination. 'WA's summer of entertainment is going to be huge — and with a great line up to look forward to, there's something for everyone.' Optus Stadium chief executive Mike McKenna said the venue was preparing for its biggest ever summer, which followed its biggest ever month in June. 'From October to March, Optus Stadium will host concerts featuring three huge acts, the return of the blockbuster Bledisloe Cup, the hotly anticipated first Test of the NRMA Insurance Men's Ashes series, a One Day International between Australia and India and another big BBL season,' he said. 'Before the 2026 winter AFL season commences, the AFC Asian Women's Cup kicks off with the opening game at the Stadium, along with a semi final match.' Mr McKenna said Optus would stage some massive concerts in coming months. 'The stadium will transition to concert mode when heavy metal band Metallica brings their signature sound on November 1 as part of the M72 World Tour, with special guests Evanescence and Suicidal Tendencies,' Mr McKenna said. 'This will be Metallica's first visit to Australia in a decade and tickets have already sold out. 'AC/DC will then bring their global Power Up tour to the stadium . . . delivering a career spanning setlist packed with iconic anthems like Stadium favourite Thunderstruck. 'As soon as the BBL season ends, we will welcome global singer-songwriter Ed Sheeran back to Optus Stadium for the third time on January 31, 2026, as part of the Loop Tour.' Tourism WA managing director Anneke Brown said .enticing big events to Perth was part of 'a plan to grow the WA tourism sector'. 'Events are a key part of our plan to grow the WA tourism sector, as they drive bookings to our Dream State, add vibrancy to a destination and drive awareness of Western Australia as an incredible holiday and events destination through media coverage,' she said. Tourism Council WA boss Evan Hall said not all events were money spinners, but some were big economic boons for the State. 'For every 1000 interstate fans we entice to WA for major tourism events we create an additional $2.5M in the economy creating more than 15 jobs,' he said.
News.com.au
8 hours ago
- News.com.au
Mount Waverley home stuns with $2.33m auction result
A Mount Waverley home has fetched $2.33m after a six-way bidding war — smashing reserve by $280,000 — as desperate downsizers beat out younger families for one of the suburb's only move-in ready homes this weekend. The single-level four-bedroom home at 38 Windsor Ave, was one of 16 properties to go under the hammer in the prized school zone on Saturday, but stood alone in offering a fully renovated, single storey move-in-ready lifestyle with pool, alfresco deck and luxe interiors. Heavyside Boroondara auctioneer Steven Zervas said the campaign drew more than 80 inspections, with 30 people attending the auction and six active bidders vying for the keys. Where Melb homes sell in 22 days 'Bidding opened at $1.9m, right at the bottom of the guide, and once it hit the $2.05m reserve it just didn't stop,' Mr Zervas said. 'We had really strong depth and competitive energy.' Mr Zervas said the eventual buyers, a semi-retired couple who had been renting just around the corner after relocating from the UK had already missed out on two properties and weren't going to let this one go. 'The underbidders were also downsizers, and they were gutted,' he said. 'The rest of the competition came from younger families who were just as keen, this was a home that really crossed demographics.' Featuring a deluxe kitchen with dual ovens, multiple living zones, a designer ensuite, and a seamless indoor-outdoor layout anchored by a salt-chlorinated pool, the home was marketed as a luxury family entertainer with zero renovation required. 'This was the only turnkey house on the market this weekend,' Mr Zervas said. 'Everything else that went to auction for this type of asset was a unit, townhouse or a knockdown.' Mr Zervas said the result showed strong demand from buyers with 'zero appetite' for major renovations, especially among those chasing access to Mount Waverley Secondary College, Avila, Huntingtower and Wesley. 'With school enrolments on parents' minds, people are planning now, not waiting for spring,' he said. 'August and September are sweet spots. 'Once spring hits, your home could be one of 30 auctions on the same day.'
