Business property valuation procedures
The Myer Centre generates more retail spending and retail employment than any other building in the CBD, and the major modern office buildings provide the employment base that maintains the economic vitality of the city of Adelaide.

The reality is that it is the modern retail and commercial foundations of the city that drives Adelaide’s future, and it is the opportunity to purchase quality goods as well as to visit our cultural delights that attract visitors to the CBD", Mr Moulds said.

Adelaide’s future relies on the ability to value both the new and the old not to have a narrow and short-sighted view of a modern city", Mr Moulds said. In particular, the civic centre displayed a high degree of user satisfaction and efficient use of capital expenditure. After an extensive assessment, the project took out the prestigious Property Council Rider Hunt award, presented in Adelaide this evening by the Premier, Mr Olsen.

The development is of a contemporary nature in a deliberate attempt to reverse the conservative association of civic buildings. Adelaide core office vacancy rates have dropped by 2.9%, to 17.6%, the lowest since July 1992. Mr Bryan Moulds, Executive Director of the Property Council of Australia (SA) Division said that this was the third consecutive fall in vacancy rates in the Adelaide CBD.Real estate Appraisers can't be promoters for any client.

Mr Moulds said that the CBD vacancy rates also reflect an improved vacancy factor for the Adelaide frame which has experienced a decline of 3.6% since January 1998, resulting in the lowest level since January 1990, of 11.9%. Mr Moulds said that increased property interest is evident in the quality end on the property market, a fact reflected in there being only 1,400 square metres of office space available in premium grade office accommodation in Adelaide.

Analysis undertaken by the Property Council and PricewaterhouseCoopers has shown that Adelaide has well and truly entered into a strengthening phase in the property cycle. The latest Property Council of Australia research shows increased tenant interest in office location in the City of Adelaide.