Macquarie Park. Parramatta market overtaken

Macquarie Park/North Ryde comprises 683,842 square metres of office stock, making it the third largest office market in NSW, having overtaken Parramatta, with 647,537 square metres, during 2007. By the end of 2009, the market will be approximately 50,000 square metres shy of pipping North Sydney as the largest office market in NSW after the CBD, said Selina Poyner Knight Frank’s NSW research manager. A majority of new tenants is relocating from North Shore office markets. A further 82,384 square metres was due for completion in the second half of 2008. At present 53 per cent of this stock is pre-committed,