Parramatta. Office market report

There has been very little activity in the Parramatta office market on both the leasing and investment fronts over the past six months, according to the latest CBRE Sydney Metropolitan Office Marketview report. Sydney Water’s relocation from the Sydney CBD showed the potential for Parramatta to attract tenants from larger office markets. The global financial crisis, however, has stopped and momentum that this deal could have created. The total office space in the Parramatta CBD is 682,595 square metres. Vacancy is 9.6 per cent. Average net face rent is $326 per square metre.