Commercial Property in Perth – From Offices to Warehouses

Perth’s commercial property market is undergoing a quiet transformation in 2025. Driven by post-pandemic work trends, rising consumer demand, and global supply chain shifts, investors are rethinking how to position themselves in this diverse sector. From high-rise offices in the CBD to sprawling industrial estates, opportunities are emerging for those willing to adapt.

CBD Office Trends – Quality Over Quantity

The Perth CBD has experienced elevated vacancy rates for several years, with remote and hybrid work models reducing overall demand. However, the narrative isn’t all doom and gloom. Businesses that are keeping offices are moving away from older B- and C-grade stock and upgrading to premium spaces.

Tenants are looking for buildings with sustainability ratings, end-of-trip facilities, and collaborative spaces to attract employees back into the city. This “flight to quality” means that while some towers sit half-empty, top-tier spaces in prime locations are enjoying stronger leasing activity and rental resilience.

For investors, the key lies in identifying premium-grade assets or repositioning older buildings through refurbishments.

Industrial & Logistics – The Star Performer

If there’s one sector outperforming all others, it’s industrial property. Demand for warehouses and distribution hubs in Malaga, Kewdale, Jandakot, and Perth Airport precinct is booming.

The e-commerce surge shows no sign of slowing, and WA’s geographical isolation makes efficient logistics infrastructure essential. From cold storage facilities to last-mile delivery hubs, tenants are signing long-term leases, often with upward rental pressure due to limited supply.

Yields for well-located industrial assets remain attractive, and the land value in Perth’s outer industrial estates is appreciating as developers struggle to keep pace with demand.

Retail Shifts – Community Over Mega-Malls

The retail sector has been mixed, but smaller-format centres are showing resilience. Neighbourhood shopping centres anchored by supermarkets, medical centres, and essential services are performing far better than large malls, which still struggle with declining foot traffic.

Consumers in 2025 continue to value convenience and necessity-driven retail, especially in growing suburbs like Ellenbrook, Alkimos, and Byford. These centres offer investors steady rental income with less exposure to fashion and discretionary spending downturns.

The Outlook – Balanced but Dynamic

Perth’s commercial property sector is no longer a one-size-fits-all investment market. Instead:

• Offices are bifurcating between struggling secondary stock and resilient premium-grade towers.

• Industrial remains the powerhouse, offering long-term growth opportunities for investors.

• Retail is evolving, with suburban centres thriving while large malls pivot towards mixed-use redevelopment.

• 
  

For investors and business owners alike, adaptability is key. Those who understand shifting tenant demands and WA’s unique logistics needs will be best positioned to take advantage of Perth’s next wave of commercial growth.