Welcome to Grace Commercial’s September Market Update. As always, this update highlights recent activity across our business, shares market insights, and draws on live data from our tenant brief tracker to keep you informed of the latest trends shaping the Sydney office market.

At the coalface, tenant engagement remains somewhat subdued, and the office search and negotiation process continues to be protracted. Many occupiers and advisers are citing elevated fit-out and make-good costs, together with broader economic uncertainty at both the local and global level, as barriers to relocation. Encouragingly, the significant increase in tenant requirements this spring leasing season gives us confidence that many of these briefs will convert into transactions during the final quarter of the year as occupiers seek to secure outcomes before the year-end break.

On the company front, we are pleased to share that Grace Commercial has been appointed by Investa to lease 6 O’Connell Street. It is a welcome addition to our growing portfolio of assets and select client base, and we look forward to working closely with the Investa team on the campaign.