Saturday, 9 February 2008

Not many quality (office) options: CBRE

Frank Sassine, a director, of CB Richard Ellis, said not many quality options existed in the Parramatta office market. “We view the A-grade vacancy to be about 1 per cent. Until such time as new developments in Parramatta kick off, current supply is mainly refurbished B-grade stock,” he said in the Sydney Morning Herald. Mr Sassine was commenting on the Property Council’s report that said that the office vacancy rate had fallen from 8.2 in June to 7.4 per cent in December. The report noted the A-grade vacancy figure was 2.2 per cent, a significant drop from 10.8 per cent two years previously.