Parramatta. CBD office market report

Some 34 per cent, or 229,967 square metres, of the Parramatta CBD total office space of 682,557 square metres, is A-grade stock, according to the Knight Frank’s latest Parramatta Office Market Overview. The average gross face rent for A-grade is $419 a square metre. That for the secondary market is $353 a square metre. The A-grade vacancy rate is 2.4 per cent, 13.5 per cent for the secondary market and 9.8 per cent for the market overall. The A-grade vacancy has redcued from 35,000 square metres four years ago to less thatan 5000 square metres currently, the report said.