Parramatta. Office development activity

Following the completion of the Sydney Water headquarters in 2009 there have been no new development starts in the Parramatta market, according to Knight Frank’s latest Parramatta Office Market Overview. The key future development sites are all actively seeking pre-commitments to trigger construction. These include 150 Phillip Street, 111 George Street, 2 Fitzwilliam Street and 60 Station Street. Following previous legal issues, Grocon is now set to commence site works on the [Parramatta City Council’s $1.6 billion] mixed-use development in early 2011, with Stage I constisting of 35,000 square metres of office accommodation, of which the major portion is pre-committed to by Parramatta Council, the report said.