what on earth is going to happen to commercial property in the SYD CBD?

so many for lease signs.
So many cafes/food places closed. No one is going to open a new one.
Yes people starting to come back into the city. but not in very big numbers. And many will just come back a few days per week.

 

Thank ‘hide at home’ mentality… it will take another year or so to unwind.. younger people still need to make life long relationships in person. For older people they have all their relationships kicked in so easier to be a zoomer. Sad.

 

Working arrangement have changed BIGTIME. The ppl who disagree with that are either not in the workforce or are not actively hiring anyone and the demands that employees are asking for.

I've just hired 3 ppl for my team. We are a technical team and lets just say the most common question and ask after interviewing all of them was "what are your working from home arrangements" and "is there any drive to go back to the office"?

The candidates were quite frank and I'm thankful for that but they all pretty much said if there is no work from home they are not interested in the role even though the money was around $200k per/annum.

 

200k Are you still hiring lol

 

I will be again when I get this years funding released. We have huge projects in the pipeline and cant find good talent.

If you are well versed with low level design, network architecture, cloud and automation PM me your resume and I'll keep in mind when the next round happens.

You need to be able to actually get designs into a working state. Not after ppl that just talk - need to turn business requirements into technical solutions. (i.e) you would be expected to be able to design a global MPLS network from scratch.

 

I guess it's not easy to find people with that skillset, who are looking for a job and can actually deliver post hiring.
Most of the ones I've interviewed lately were everything on the paper, but hardly delivered in real life. Not many today like to get their hands dirty.

I believe I have probably most of those skillsets and offers are coming thick and fast (not looking to move ATM though)

 

That's just for the barrista, they still get their share of the tips

 

Slowly old habits will return. Or cost cutting. Pick which side you want to be on. Many food outlets in the city were staffed by non-residents or temp residents, students etc. When the people return the food outlets will return. Its like cruise ships....Soon everyone will forget the fuss.

Deaths from COVID here were vastly over estimated. Maybe they got it and the vaccines right cause places like USA were much worse. But deaths for COVID here in 2+ years is still less than the 2017 or 2019 year influenza deaths. And they were huge numbers compared to averages

 

A bit of both really.

We're relocating offices for an 50% saving on the current expenditure (splitting up the office to two locations, better utilisation of space, closer to home etc)

 

Yes, COVID certainly changed a lot of mindsets. In the past a CBD 5-star office is a status but now I would not rent a office which windows can't be opened for fresh air. Also, I no longer wear a suit just something smart casual as it doesn't affect my ability to deliver. Oh, by the way, with technology and network speed improved, I do zoom as much as possible, saving the face to face bit to non-work activities or just networking.

 

My 'main' is Integration architecture but sort of backup PM in a lot of projects also - work with a global top 20 company.. A lot of cloud migrations atm.

Yes, its all about delivery a working product/solution in the end, even with some non-show stopper challenges..

Way better than talking perfection and delivering a mess

 

yes, plenty of offices for lease in Sydney CBD, a glut even.
But, on the for sale side, not so much for sale, and no obvious discounting on price.