_Economy and Finance

MELBOURNE DOCKLANDS NEW HOME TO MARSH & MCLENNON COMPANIES' THIRD LARGEST OFFICE Australia, Melbourne Publication date: 17 June 2013 Melbourne is now home to Marsh & McLennan Companies’ (NYSE: MMC) third largest office worldwide, behind only New York and London. The relocation of the Melbourne headquarters of Mercer, Marsh, Guy Carpenter and Oliver Wyman to the newly-built Collins Square development at 727 Collins Street adds further support to Docklands’ claim of being Melbourne’s financial services hub. http://www.mercer.com/press-releases/office-move-docklands

Docklands, Victoria Docklands (also known as Melbourne Docklands to differentiate it from London Docklands) is a suburb of Melbourne, Victoria, Australia, 2 km (1.2 mi) west of Melbourne's Central Business District. Its local government area is the City of Melbourne. At the 2011 Census, Docklands had a population of 5,791. http://en.wikipedia.org/wiki/Docklands,_Victoria

Docklands: Shifting the market dynamic for Melbourne CBD office Australia ViewPoint ​SUMMARY Docklands has been the engine room of growth in the Melbourne CBD office market over the last decade or so and based on existing development will continue to be over 2013 and 2014. The historical strong growth has been well absorbed against a backdrop of strong conditions in the office occupier markets, which saw the Melbourne market outperform other capital cities in terms of space growth and yield. With occupier conditions now materially weaker, forthcoming supply in Docklands poses clear risks to CBD vacancy. To date, the market seems to be digesting this as part of a cyclical slowing, a rebalancing or “normalisation” after a period of strength, rather than posing a material risk to the long run performance of the Melbourne market. Yields have been relatively stable, particularly for premium assets. We think that is likely to remain the case through 2013 and 2014. Download full ...

Lend Lease drives office wedge in Docklands Date February 13, 2013 Read later Simon Johanson Property Editor for The Age LEND Lease is set to launch a nine-level commercial building into a tight office market in Melbourne's Docklands after gaining planning approval on Tuesday. http://www.smh.com.au/business/property/lend-lease-drives-office-wedge-in-docklands-20130212-2eazj.html

Established Melbourne office market faces short term headwinds from Docklands and interstate departees: CBRE By Alistair Walsh Wednesday, 29 August 2012 The office market in Melbourne faces strong short term headwinds with the landmark projects in the Docklands precinct coming to market soon while major Melbourne tenants contemplate moving interstate, according to CBRE. http://www.propertyobserver.com.au/news/established-melbourne-office-market-faces-short-term-headwinds-from-docklands-and-interstate-departees-cbre/2012082956286

Docklands pulls its weight August 20, 2012 Philip Hopkins DOCKLANDS, which is 48 per cent complete, has shifted the geographical heart of the Melbourne CBD to the west and is now the second-largest office precinct for prime-grade stock in the CBD. http://www.smh.com.au/business/property/docklands-pulls-its-weight-20120819-24gge.html#ixzz243o9lUuN

Docklands nears 20% of Melbourne’s Prime Market MELBOURNE, 8 August 2012 - The Docklands precinct is now larger than Melbourne’s Eastern Core and is the second largest office precinct for prime grade stock in the Melbourne CBD. According to Jones Lang LaSalle Research, Melbourne’s CBD office market is 4.27 million square meters of which 2.44 million square meters are prime grade. http://www.joneslanglasalle.com/Pages/NewsItem.aspx?ItemID=25855

Lack of 'soul' has Docklands tenant ready to leave September 28, 2011 Jason Dowling ONE of Docklands' cornerstone corporate tenants has threatened to quit, saying infrequent public transport and a lack of ''charisma'' and ''soul'' puts it at risk of losing staff. http://www.theage.com.au/victoria/lack-of-soul-has-docklands-tenant-ready-to-leave-20110927-1kvgz.html

Is Docklands sinking Melbourne @ 5 Million? ALAN DAVIES | AUG 12, 2010 7:26PM Docklands has been roundly and rightly criticised for its appalling urban design but it has nevertheless been spectacularly successful in attracting business to locate by the water. http://blogs.crikey.com.au/theurbanist/2010/08/12/is-docklands-sinking-melbourne-5-million/

Melbourne Water moving to Docklands 01 Apr 2010 Melbourne Water has committed to locate its new 12,100m² head office facility at 990 LaTrobe St, in the south east corner of Digital Harbour above the link road access to Etihad Stadium. http://www.docklandsnews.com.au/editions/article/melbourne-water-moving-to-docklands_5228/