Parramatta. Demand for office space

Solid demand for quality office space in Parramatta was not enough to stop office vacancies jumping from 7.3 to 10.1 percent in the six months to January, according to the Property Council of Australia’s latest Office Market Report. However these figures mask healthy demand for A Grade space, suggesting the impact of the financial crisis had yet to bite in Parramatta. “The Parramatta CBD is a tale of two cities: solid demand for quality office space and negative demand for lower grade stock,” said Property Council NSW, executive director, Ken Morrison.