Parramatta. Large footplates 'all time low'

Large contiguous office space in the Parramatta CBD is at an all time low, with only three buildings able to offer over 3000 square metres of A grade space; current demand could see this contiguous vacancy very easily absorbed, according to John Siciliano, associate director – office leasing in Knight Frank’s Parramatta office. “The largest vacancy is 5000 square metres at 126 Church Street with GE’s 87 Marsden Street close behind with 3500 square metres vacant. There are only two properties able to offer a floor plate of over 1200 square metres, The Octagon and Denison Group’s 30 Cowper Street,” he said Organisations looking to expand having no other choice but to remain on short term leases in their current premises in anticipation of new development supply. While the majority of existing tenants are eager to stay put, some businesses have had to relocate simply because the market could not accommodate them at the time, he said.