“Hub and Spoke” model to support the office market
According to Ray White Commercial, businesses are increasingly adopting a “Hub and Spoke” working model, whereby employees are offered a hybrid working solution with a combination of remote and face-to-face working.
Ray White Commercial said there are signs of this model coming to fruition, as suburban cities such as Parramatta in Sydney’s west recording growing signs of interest.
Parramatta’s CBD is home to nearly one million square metres of quality office space, soon to overtake other Sydney suburban markets such as Macquarie Park and North Sydney. According to Ray White Commercial, these recent completions are setting new benchmarks in quality for this suburban CBD office market.
This is not just a Sydney phenomenon, as markets such as Brisbane Fringe, Gold Coast and West Perth also have recorded growing enquiry, capitalising on an easy commute for staff, and affordable, yet attractive accommodation options.