North Ryde. Office space overtakes Parramatta

North Ryde, which includes Macquarie Business Park, has pushed the Parramatta CBD into third place in office space, after Sydney and North Sydney. In the 12 months to July 2008, the amount of space in North Ryde had risen to 683,842 square metres, up 23.6 per cent, compared to 647,537 square metres in Parramatta, up 6.4 per cent. Space in Parramatta is expected to increase by 16,023 square metres in 2008, with 23,000 square metres scheduled for 2009 and 25,000 square metres in 2010 and beyond, according to Parramatta City Council's latest Biz Facts publication.

Blue Mountains. Hydro Majestic sold for $10.5m

The Mah family, which bought the 84-room Hydro Majestic, at Medlow Bath, suffered a $15 million loss after selling the heritage-listed property for $10.5 million in the mid-1960s. The Malaysian family bought the hotel in the mid-1960s for $10 million and spent $15 million refurbishing it. A local syndicate is the new owner.

Parramatta. Construction falls in the city

The total value of construction in the Parramatta local government area fell by 23.3 per cent in the year ending June 2008, from $354.9 million to $227.3 million. Building approvals in the non-dwelling sector fell by 36.3 per cent, from $147.4 million to $93,9 per cent, and approvals in the dwellings sector fell by 14 per cent, from $207.5 million to $178.4 million, according to council's latest quarterly publication, Biz Facts.

Parramatta. Office vacancies marginally lower

The total vacancy factor for all useable office space in the Parramatta CBD was 7.3 per cent in July 2009, 0.9 percentage points lower than the level recorded in July 2007. The fall in vacancy rates was despite a considerable increase in the total office stock over the previous 12 months, according to council's quarterly Biz Facts publication. Vacancy rates in Parramatta were lower than other major areas of Sydney, for example, the North Shore 8.6 per cent, North Ryde 8.7 per cent and Chatswood 12.8 per cent