Deloitte Moves to New Melbourne Office

In a deal that probably could not have been negotiated at a worse time in the last two decades, Deloitte signed on to

Alan Bond protesting that his purchase of Channel 9 was a better deal than Deloittes move to 550 Bourke St

Melbourne’s office vacancy rate at a record low, [and] the space [was] expected to be easily filled. According to the Property Council of Australia’s latest Office Market Report, the rate has plummeted in the CBD to 4.4% in the six months to December, from 5.9%.

Times have changed. Drastically.  At the time of the announcement, Deloitte boasted:

Exponential growth in recent years will require Deloitte to relocate its Victorian headquarters to one of Melbourne’s newest office towers, Cbus Property’s CBW development, from February 2009.

Today, mere weeks after its official relocation, Deloitte is fighting against the tide of redundancies implemented by PwC, KPMG and Ernst & Young. So far Deloitte has managed to escape the GFC with a firm-wide pay freeze, and is the only Big4 accounting firm not to sack workers.

But will this ill-timed deal be the straw that breaks the camel’s back? Is your job in the line?  Send the Firm Spy your news and views!