Parramatta. Slight decrease in office vacancies

Office vacancies in Parramatta have reached their lowest levels in over four years, showing a slight decrease down from 7.4 percent to 7.3 percent, in the six months to July 2008, according to the Property Council of Australia. Ken Morrison, executive director, NSW said while the drop in vacancy rates was positive, the past half-year had been a flat period for the city. “For now, Parramatta’s only real worry is the competition posed by North Ryde as that market continues to expand and reap the benefits of the Chatswood to Epping rail line, which is due to open next year.” A Grade vacancy increased slightly from 2.9 per cent to 3.0 per cent, B Grade dropped from 8.9 per cent to 7.9 per cent, C Grade increased from 9.1 per cent to 10.2 per cent, and D Grade decreased from 9.8 per cent to 9.6 per cent. Some 16,023 square metres of new space is due to enter the market in the second half of 2008, with 23,000 square metres scheduled in 2009.

Oatlands. School buys site

The American International School, on Pennant Hills Road, has bought the site from a Malaysian developer, for $6.6 million. The 12,730-square-metre site comprises nine buildings totalling 3650 square metres plus tennis and basketball courts, according to CB Richard Ellis Parramatta. The school is registered by the New South Wales Board of Studies and offers the International Baccalaureate Diploma Program. The curriculum follows American curriculum standards.

Parramatta. Office building on the market

Expressions of interest have been called for the two-storey office building, at 30 Cowper Street, which has Woolworths, Mirvac, Glanville Architects and Focus Business Centre as tenants. Jones Lang LaSalle said it was being offered with significant under replacement value. It has a current FSR of 2.2:1, with 6:1 allowable, and a large footplate of over 2000 square metres. Basement parking is for 214 vehicles.

Parramatta. Restaurant in fire station

An application has been lodged with Parramatta City Council for a cafe/restaurant within heritage-listed former fire station building, in Church Street, opposite Westfield Parramatta. The building is located in the city’s so-called Chinatown. Council has recently completed a $2 million upgrading of the street in the precinct.

Rydalmere. Thales celebrates 20 years

Thales Underwater Systems, at Rydalmere, exported sonar and underwater systems design totalling $360 million, since the mid 1990s, according to Greg Combet, Parliamentary Secretary for Defence Procurement, at the facility’s 20th anniversary, The facility is capable of producing sonar systems in significant volumes which are supplied to the RAN and to the UK, French, Italian, Norwegian and Saudi Arabian navies. The Indian Navy’s Scorpene submarine program also makes use of components made in Australia. In R&D, the company is actively involved with national capability development through the Defence Science and Technology Organisation, universities, CSIRO and Australian industry. The facility employees some 300 workers.