Parramatta. Preferred place for business

Information released by the Property Council of Australia showing Parramatta had the biggest growth in demand for office space was further evidence that the capital of Western Sydney continued to be the new preferred destination for business, said Mike Thomas, Parramatta City Council’s manager, economic development. He was commenting on the report that the Parramatta CBD had the biggest growth in demand for office space in the country. Office vacancies fell from 10.1 per cent to 9.6 per cent in the six months to July 2009. The vacancy rate for A-grade space fell from 3.1 percent to 2.4 percent

Norwest. Wattyl may be turning around

A raft of management changes and cost cutting may finally have turned around the Wattyl Group, based at Norwest Business Park, positioning the paint maker to tap into Federal Government spending on schools and first-home owners, according to The Australian Financial Review. Wattyl has withstood two failed takeover attempts, a sagging housing and home improvement market and about seven management appointments in the past year.

Parramatta. Demand for office space

The Parramatta CBD had the biggest growth in demand for office space in the country, driving vacancy rates back into single digits over the six months to July 2009, according to the Property Council of Australia’s latest Australian Office Market Report. Driven by strong demand, Parramatta office vacancies decreased from 10.1 per cent to 9.6 per cent in the six months to July 2009. The vacancy rate for A-grade space decreased from 3.1 percent to 2.4 percent. Parramatta seems to have shrugged off the global financial crisis and the last six months has seen it outperform every other office market in the country in terms of demand for space. Overall, this result would be good news for Parramatta City Council’s plans for the renewal of Civic Place, the market report said.