2018亚太地区法律机构展望报告（英文版）-3mb

报告摘要

Summary of "LAW FIRM TRENDS AND OUTLOOK REPORT 2018" (APAC)

Introduction: Watch This Space

This report provides an overview of the current and future trends in the law firm sector across the Asia-Pacific region, focusing on legal talent demand, office space requirements, and market dynamics. It is a collaborative effort between Colliers and PageGroup, highlighting how law firms are adapting to economic changes, technological advancements, and evolving workplace expectations.

Legal Talent Trends: An Asia-Pacific Perspective

Key Sectors and Specialisations

China's growing regional role has increased the demand for Mandarin-speaking legal professionals.
Senior lawyers are moving from global to Chinese law firms, attracted by better financial incentives.
Commercial and industrial real estate is seeing increased investment, especially by Chinese firms, which is influencing the legal sector's need for real estate expertise.
The aviation market is expanding, leading to higher demand for aviation leasing and structured finance lawyers, particularly in Hong Kong.
Construction and infrastructure remain key areas in Sydney, where there is a talent shortage despite high demand for legal roles.
Work-life balance and flexible work arrangements are becoming more important to legal professionals, influencing how firms design their workspaces.

Attracting and Retaining Talent

Firms must offer clear career paths and transparency in promotions and relocations to retain top talent.
Repurposing talent within existing firms through internal transfers and training is a strategy to address skill shortages.
Innovative office designs and modern amenities are becoming essential to attract the current generation of legal professionals, who value a vibrant workplace culture.

Market Snapshots

Beijing

Preferred locations: Central Business District (CBD), particularly in CP Center, China World Trade Center, and Kerry Centre.
Market Outlook:
- Grade A office supply is expected to increase by 15.6 million sq ft from 2018 to 2021.
- Vacancy rates are projected to rise, with a 16.2% rate in 2018.
- Law firms are the main drivers of legal sector growth in Beijing.
Market Data:
- 6.0% of Grade A office space is occupied by law firms.
- 4.8% vacancy rate in 2017.
- Average Grade A rent: USD50.7 / sq m / month.
- 2018 rental forecast: -1.2%.
- Rent free period: 1–2 months for a 3-year lease.
Major Law Firms:
- Yingke Lawyer: 280,000 sq ft in CP Center.
- King & Wood Mallesons: 210,000 sq ft in World Financial Center.
- Zhonglun Law Firm: 210,000 sq ft in CP Center.

Brisbane

Preferred locations: Golden Triangle and Eagle Street, with a growing interest in the North Quarter for specialized legal practices.
Market Outlook:
- CBD vacancy rate increased from 15.3% to 16.2%.
- Market remains in tenant's control, with competition for space intensifying.
- Major mergers are expected to continue, increasing sub-lease availability.
Market Data:
- 4.0% of Grade A* office space is occupied by law firms.
- 13.2% vacancy rate in 2017.
- Average Grade A rent*: USD44.7 / sq ft / year.
- 2018 rental forecast: +2.5%.
- Rent free period: 33–35%.
Major Law Firms:
- Minter Ellison: 90,000 sq ft in Waterfront Place.
- Clayton Utz: 66,000 sq ft in Riparian Plaza.
- HWL Ebsworth: 56,000 sq ft in 480 Queen Street.
- Herbert Smith Freehills: 47,000 sq ft in 480 Queen Street.
- Allens Linklaters: 40,000 sq ft in Riverside Centre.

Hong Kong

Preferred locations: Central remains the primary hub, with Quarry Bay and Aberdeen emerging as new decentralised districts.
Market Outlook:
- Rental growth is expected to be strong, with 3–5% increases in 2018.
- Vacancy rates in CBD remain low at 1.5%.
- New supply is limited until 2020, creating intense competition for office space.
Market Data:
- 6.8% of Grade A office space is occupied by law firms.
- 2.3% vacancy rate in 2017.
- Average Grade A rent: USD182.92 / sq ft / year.
- 2018 rental forecast: +3.5%.
- Rent free period: 5–8% or 2–3 months for a 3-year lease.
Major Law Firms:
- Mayer Brown: 93,000 sq ft in Princes Building.
- Baker & McKenzie: 80,000 sq ft in Hutchison House.
- Deacons: 78,000 sq ft in Alexandra House.

Melbourne

Preferred locations: Collins Street, particularly Prime Grade developments, is becoming more attractive due to its prestige and modern amenities.
Market Outlook:
- Office space demand is strong due to population and economic growth.
- Vacancy rate is at 4.59%, with supply relief expected in 2019/2020.
- Rental growth is projected to be 9.3% for prime grade stock in 2018.
Market Data:
- 6.8% of Grade A* office space is occupied by law firms.
- 4.6% vacancy rate in 2017.
- Average Grade A rent*: USD44.9 / sq ft / year.
- 2018 rental forecast: +9.3%.
- Rent free period: 25–28%.
Major Law Firms:
- Allens Linklaters: 130,000 sq ft in 101 Collins Street.
- Herbert Smith Freehills: 127,000 sq ft in 101 Collins Street.
- Minter Ellison: 120,000 sq ft in Rialto, 525 Collins Street.
- Clayton Utz: 100,039 sq ft in 333 Collins Street.
- King & Wood Mallesons: 90,000 sq ft in 600 Bourke Street.
- Ashurst: 80,000 sq ft in 181 William Street.

Shanghai

Preferred locations: Jing'an District, Lujiazui, and Xintiandi are the top areas for law firms, especially international ones.
Market Outlook:
- Vacancy rates have created downward pressure on rents, with a -2.2% growth in 2017.
- A significant development pipeline is expected to increase supply, but rents are anticipated to remain stable in 2018.
Market Data:
- 1.9% of Grade A office space is occupied by law firms.
- 13.9% vacancy rate in 2017.
- Average Grade A rent: USD62.2 / sq ft / year.
- 2018 rental forecast: -0.1%.
- Rent free period: 2–3 months for a 3-year lease.
Major Law Firms:
- King & Wood Mallesons: 107,600 sq ft in 2 ICC.
- Baker & McKenzie: 38,736 sq ft in Jin Mao Tower.
- Ropes & Gray: 26,884 sq ft in Park Place.

Singapore

Preferred locations: Raffles Place and New Downtown are the core CBD areas with the highest concentration of law firms.
Market Outlook:
- Rental growth is expected to accelerate in 2018 and 2019 due to improved economic conditions.
- Premium and Grade A developments are projected to increase by 10–12%.
Market Data:
- 97% of international law firms in the core CBD are from the AM100 and UK Top 50.
- Market activity includes upgrades, flight to efficiency, and co-working trends.
Major Law Firms:
- King & Wood Mallesons: 107,600 sq ft in 2 ICC.
- Baker & McKenzie: 38,736 sq ft in Jin Mao Tower.
- Ropes & Gray: 26,884 sq ft in Park Place.

Key Trends and Future Outlook

Mergers and acquisitions are reshaping the legal landscape, with firms seeking to expand their international reach and improve service delivery.
Flexible workspaces and non-traditional legal hubs are becoming more common, offering competitive commercial terms.
Technology and AI are driving innovation in the legal sector, with automation reducing the need for physical space in some areas.
Talent shortages in sectors like real estate and infrastructure are prompting firms to consider internal transfers and training.
Office design is evolving to reflect the changing priorities of legal professionals, including work-life balance and a sense of purpose.
Physical office space is increasingly seen as a reflection of a firm's culture and brand identity, influencing hiring and retention strategies.