Parramatta. Office rents 'attractive'

Average prime gross face rents in Parramatta were currently under $380 per square metre annually said, Chris Gilbert, NSW head of commercial leasing, with Jones Lang LaSalle, when commenting on the 9.57 per cent vacancy rate in the first quarter 2009. Prime grade vacancy was relatively low at 6.27 per cent. He said the rental was attractive relative to the Sydney CBD and other non-CBD markets. Leighton Properties, Grosvenor Australia, St Hilliers and Becton Property Group all have quality office projects on the drawing board ready to be developed, subject to tenant pre-commitments, he said.