Professional Services

“The heart of Adelaide – its Central Business District – is moving from strength to strength,” says Property Council of Australia SA Executive Director Nathan Paine.

“Adelaide is currently enjoying a strong development trend with a range of new buildings constructed, including City Central Towers One and Two, the Flinders Link Buildings and 151 Pirie to name a few,” Mr Paine says. “In addition, there are almost a dozen more major buildings waiting to come out of the ground in the next five years.”

Adelaide continues to be identified as a competitive place to do business with international business advisory firm KPMG finding Adelaide to be the number one place to do business in the Asia Pacific region in a comparison of business costs in 98 cities.

The City provides a unique combination of a well-educated and highly skilled work force, excellent infrastructure, competitive costs and an enviable lifestyle that fosters creative thinking, high productivity and international success.

It provides a diverse spread of commercial accommodation in the CBD, offering businesses an appropriate and affordable base from which to operate. Additionally, Adelaide is at the forefront of providing environmentally-advanced office space for firms wanting a real “green edge” over their competitors.

But perhaps the most important role the City plays in this sector is hosting the State’s higher-order business services. These include specialised legal firms, investment bankers, brokers, management consultants, accounting firms and government policy makers. Critical success factors required by these firms include skilled workers, access to business networks (both formal and informal) and infrastructure. On all these factors, Adelaide’s CBD provides the best location in South Australia.

The strength of the market is demonstrated by the record low levels of office vacancies in the CBD, revealed in the Property Council’s Office Market Report which shows a vacancy rate of just four per cent in 2008.

“This is set to continue with new demand flowing from the resources and defence booms, coupled with interstate enquires back office functions in South Australia,” Mr Paine says.

Continual improvement in information communications technology – another industry showing signs of massive growth in Adelaide – has eliminated challenges once poised by the tyranny of distance. There is now a clear opportunity to attract more industries that live on ICT technologies – such as finance. The Rudd Government is making a play for Australia to become the financial services sector hub of the Asia-Pacific and Adelaide has an opportunity to be at the heart of this effort.

“The necessary infrastructure is all here in Adelaide and matches up with any other competing location,” Mr Paine says. “All Adelaide has to do now is to make sure everybody knows about it.”

Fast Facts

● Key business infrastructure in place
● Highly cost competitive
● Increasing demand based on industry growth

Links

● Business SA
● Property Oz

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