North Ryde.Competitive rents underpin leasing

Tenants are turning their sights to Sydney’s Macquarie Park office precinct, with more than 15,000 square metres of space leased in the first quarter, according to CBRE’s Sydney Metropolitan MarketView highlighting a significant shift in the second largest office market outside the CBD. CBRE Global Research and Consulting manager, Luke Nixon, said the area’s competitive rents had underpinned the continued growth of the Macquarie Park market, even during the global financial crisis. New space is available at gross rents of around $370 a square metre.